Automotive Ultrasonic Sensors Market Analysis and Opportunities 2030

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Automotive Ultrasonic Sensors Market Growth
Rate, Developments In Major Areas, Market Size,
Dynamics, Opportunities, Forecast With
Demographic Data Till 2030
According to the market research report published
by PS Intelligence, the global automotive
ultrasonic sensors market share is expected to
reach revenue of 6,096.2 million by 2030. It
was valued at 3,461.9 million in 2019, from
where it is predicted to witness a CAGR of 5.1
during 20202030 (forecast period). On the basis
of vehicle autonomy, the fully-autonomous
vehicle bifurcation, due to the increasing
adoption of such automobiles in shared mobility
services worldwide, is predicted to witness
faster growth during the forecast period.
The biggest trend being witnessed in the
automotive ultrasonic sensors market is the
regular technological innovations taking place in
such vehicle components. For instance, the
increase in the efforts being undertaken to
maintain the accuracy of these sensors at
driving speeds above 10 km/ hour are a reflection
of such measures.
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rt-sample The rise in the safety concerns, with
regard to vehicles, are driving the governments
of numerous countries to enact stringent
policies for the installation of various safety
features, such as blind spot detection (BSD), in
vehicles. The biggest example of this is the
European Unions (EU) mandatory policy of
equipping all new lorries, since 2007, and older
lorries, since 2009, with blind spot mirrors. The
dependence of these safety features on
ultrasonic sensors for their functioning is
driving the growth of the automotive ultrasonic
sensors market. Asia-Pacific (APAC) is predicted
to be grow the fastest in the automotive
ultrasonic sensors market over the forecast
period. On the basis of country, China is
expected to register the highest demand for
advanced sensors, such as ultrasonic sensors, in
the coming years. This is mainly due to the
rapid rise in the technological innovations in
autonomous vehicles in the country. There are no
major dominating players in the global automotive
ultrasonic sensors market, and as a result, the
market has multiple key players, such as Baumer
Holding AG, Honeywell International Inc., Magna
International Inc., Autoliv Inc., Aptiv PLC,
Elmos Semiconductor AG, TE Connectivity Ltd.,
Valeo SA, Texas Instruments Inc., First Sensor
AG, and TDK Corp.