Automotive Sensors Market 2019 by Company Share, Regional Analysis, Types, Applications, Growth Trends, Revenue Statistics, Global Forecast 2025
The automotive sensors market is growing due to development in LiDAR and RADAR components. Light detection and range-sensing methods are used to aid automated and self-driving car systems.
Selbyville, United States – June 27, 2019 /MarketersMedia/ —
Global Market Insights, Inc. Add New 2019-2025 Automotive Sensors Market Report to its research database presenting an informative study covering the market with detailed analysis. The Global automotive sensors market research report is a professional and in-depth study on the current state of global Industry.
Automotive Sensors Market size is anticipated to grow exponentially during the forecast period impelled by increasing consumer awareness about safety & comfort systems in automobiles. Comfort & driving assistance systems deployed in passenger & autonomous vehicles comprise several sensing units such as ultrasonic, thermal, and vision sensors. These systems offer optimum driver safety and enhanced passenger experience as compared to the traditional car systems.
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An increase in the government regulations and compulsory standards related to the driver, vehicle, and road safety will further create opportunities for the automotive sensors market growth. For instance, the National Highway Traffic Safety Administration (NHTSA) set a regulation on the compulsory deployment of backup cameras in automobiles from May 2018. The regulatory standard was the result of increasing accident cases in the U.S. due to the careless reversing of vehicles.
The automotive sensors market is growing due to development in LiDAR and RADAR components. Light detection and range-sensing methods are used to aid automated and self-driving car systems. LiDAR provides ADAS with a 360-degree visibility and accurate depth information about nearby obstacles. Major autonomous vehicle manufacturers including Baidu and Uber are deploying RADAR and LiDAR components in their ADAS systems. Another trend in the automotive sensors market is the quick response time for other automotive applications such as lighting & energy management systems.
In the automotive sensors market, proximity sensing components are witnessing a high demand due to their implementation in parking assistance and adaptive cruise control systems. These components deployed in the parking assist systems to aid the driver in detecting the distance of an object from the vehicle and provides alerts before crashing.
The powertrain application in the automotive sensors market is expected to grow rapidly over forecast years due to the provisioning of level, position, and speed data to these systems. Sensor manufacturers have developed a specific powertrain segment in their product portfolio, which will offer application-specific components.
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Passenger cars in the automotive sensors market have witnessed a rapid growth due to applications in several basic and advanced vehicle systems such as the chassis, safety, telematics, etc. These cars have a high demand across the globe owing to improvements in the consumer lifestyle and price flexibilities suitable for all consumer segments.
Europe is expected to cover a substantial share in the automotive sensors market in the coming years. This growth is attributed to the presence of major luxury car manufacturers in the region including Audi and BMW, among others. Key players operating in the automotive sensors market include Continental AG, TE Connectivity, Delphi Automotive PLC, NXP Semiconductor, Denso Corporation, Samsung, Infineon Technologies, Bosch Group, ZF Friedrichshafen AG, and Analog Devices.
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