Automotive Sensors Market Top Companies Trends and Future Details for Business Opportunity 2023-2028

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Global Automotive Sensors Market Research Report:

The latest report by IMARC, titled “ Automotive Sensors Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2 023-2028

” the global automotive sensors market size reached US$ 23.6 Billion in 2022. Automotive sensors are electronic devices that monitor, detect, and respond to various aspects of a vehicle's performance and environment, including emissions, fuel efficiency, and safety systems such as anti-lock brakes (ABS) and airbags. Some of the most common types of automotive sensors include temperature, proximity, pressure, speed, position, and oxygen sensors. These sensors are essential components in modern automotive systems as they provide real-time data to the vehicle's electronic control unit (ECU) and allow it to make necessary adjustments to ensure optimal functioning, safety, and efficiency. Apart from this, automotive sensors have enabled the development of autonomous driving technology and advanced driver assistance systems (ADAS), which rely extensively on sensor data for safe and efficient operations.

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Global Automotive Sensors Market Trends :

The expanding employment of automotive sensors to provide information on various parameters, ensuring safety, security, and comfort, is primarily driving the market growth. For instance, automotive sensors are extensively used to monitor wheel speed, occupant position, tire inflation, anti-lock braking system (ABS), engine temperature, exhaust gas and fuel pressure, blind spots, and vehicles in an adjacent lane, which is contributing to the market growth. Moreover, the bolstering expansion of the automotive industry, the rising number of vehicles equipped with automotive sensors, and the increased demand for convenience and fuel efficiency among consumers are impelling the market growth. In addition to this, widespread product utilization in self-driving cars due to surging requirements for smart data processing devices to enable autonomous decision-making is creating a positive outlook for the market. Furthermore, innovative technological advancements, such as the advent of advanced driver assistance systems (ADAS), consisting of lane departure warnings, adaptive cruise control, and automated parking features, are presenting remunerative growth opportunities for the market. Concurrent with this, escalating demand for connected vehicles with vehicle-to-vehicle communication, vehicle-to-infrastructure communication, and navigation elements are aiding in market expansion. Looking forward, the market value is projected to reach US$ 46.4 Billion by 2028, expanding at a CAGR of 12.10% during 2023-2028.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

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Market Summary:

Type Insights:

• Level/Position Sensors

• Temperature Sensors

• Pressure Sensors

• Speed Sensors

• Gas Sensors

• Magnetic Sensors

• Others

Vehicle Type Insights:

• Passenger Cars

• Commercial Vehicles

Application Insights:

• Powertrain

• Chassis

• Vehicle Body Electronics

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• Safety and Security

• Telematics

• Others

Sales Channel Insights:

• Original Equipment Manufacturer (OEM)

• Aftermarket

Regional Insights:

• North America

• United States

• Canada

• Asia Pacific

• China

• Japan

• India

• South Korea

• Australia

• Indonesia

• Others

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• Europe

• Germany

• France

• United Kingdom

• Italy

• Spain

• Russia

• Others

• Latin America

• Brazil

• Mexico

• Others

• Middle East and Africa

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Competitive Landscape with Key Players:

Analog Devices Inc.

BorgWarner Inc.

Continental AG

CTS Corporation

DENSO Corporation

Hitachi Ltd.

Infineon Technologies AG

Littelfuse Inc.

NXP Semiconductors N.V.

Robert Bosch GmbH

Sensata Technologies Inc.

• TE Connectivity

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