Automotive Sensor Market – Analysis and Forecast To 2024 | Continental AG, Delphi Technologies, Denso Corporation, Robert Bosch GmbH.

The global automotive sensor market is expected to reach USD 42.0 billion by 2024, growing at a CAGR of 7.0% during the forecast period. The market is growing at a remarkable rate with rise in vehicle production, growing inclination towards automated vehicle, and several government initiatives towards safety and security vehicle. Further, there is increase in number of sensors deployment in vehicle with the concern towards safety and comfort. Among the vehicle type segment, passenger cars being the largest in terms of volume contribute major share to the market. This as a result will boost the demand for automotive sensor in the vehicle sector.

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Growing demand of electric cars will increase the sensor integration in vehicle. Along with that, ADAS (Automated Driver Assistant System) and inclination towards safety and security will act as an addition factor driving the market. All these factors will impact the automotive sensor progression in the market in near future.

Geographically, APAC, mainly China is the largest automotive sensor market with largest number of electric vehicle production. Besides, the country is home for some of the major automotive manufacturers, this will further up surge the growth of the China automotive sensor market in years to come.

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Key players in the in the automotive sensor market includes automotive OEMs who are making huge investments in development of new sensor technologies. Further, partnership and collaboration are other key strategies adopted by the vehicle OEMs. For instance, Delphi has collaborated with TomTom and Audi has Partnered with ON Semiconductor to grow their technical expertise.

Some of the key players operating in the market automotive sensor market are Analog Devices, Inc., Continental AG, Delphi Technologies, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, APTIV, Melexis, Sensata PLC, and CTS Corporation.

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