The global automotive sensor market is projected to reach $26.4 billion by 2027, at a CAGR of 5% during 2021-2027. The growth of automotive sensor market is driven by increasing electronic content per vehicles and various government regulations for fuel emission and vehicle safety.
Some of the Key Questions answered in
this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the automotive sensor market by application
(engine and transmission, safety and security, chassis applications, body
applications, and driver support) and region (North America, Europe, Asia Pacific,
and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the automotive sensor market?
Q.4 What are some
changing demands of customers in the automotive sensor market?
Q.5 What are the new
developments in the automotive sensor market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this automotive sensor area and how big
of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this automotive sensor market?
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing usage of sensors in ADAS application, development of advanced magnetic position sensors in electric power steering application, advancement of silicon-based sensors and development of wireless sensing for automotive application.
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Market Segmentation:
Based on application,
the automotive sensor market is segmented into engine and transmission, safety
and security, chassis applications, body applications, and driver support. The
driver support segment accounted for the largest share of the market in 2021
and is expected to register the highest CAGR during the forecast period, due to
autonomous braking, forward collision avoidance systems, adaptive cruise
control, adaptive headlights, lane departure warning, blind spot detection,
parking assistance, backup camera, reverse sensors, and side view assist among
other driver assistance systems that will also lead the market in the future.
Asia Pacific is expected
to remain the largest market, whereas Europe and Rest of the World are expected
to witness significant growth over the forecast period because of continuous
government regulations on fuel emission and safety of vehicles, strong recovery
in vehicle production and sales along with continuous demand for safety and
comfort features and gradually increasing awareness regarding safety of
vehicles.
Key Players in the
automotive sensor market are Continental AG, Denso Corporation, Aptiv PLC, ZF
TRW Automotive Holdings Corp, Honeywell International Inc.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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https://www.lucintel.com/automotive-sensor-market.aspx.
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Lucintel
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Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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