Automotive Sensors Market by Growth Opportunities and Key Trends Analysis by Regional Players to 2030

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Automotive Sensors Market 2021 2030 Key
Developments Factors and Demand Insights

• Automotive sensors market expansion is expected
  to be driven by the growing incorporation of
  advanced technologies in automobiles to
  consolidate vehicles and passengers safety and
  enhance fuel efficiency. According to Global
  Market Insights, Inc., global automotive sensors
  market size is slated to cross over USD 55
  billion by 2030.
• The trending automotive technologies include
  airbags, child safety systems, pre-tension
  seatbelts, and occupant sensing systems. These
  systems are lashed with a wide range of
  automotive sensors, such as pressure sensors,
  LiDAR sensors, image sensors, and temperature
  sensors to effectively track and monitor
  essential safety features and prevent road
  crashes.
• With rising automotive penetration, the demand
  for these safety systems is likely to accelerate
  in the coming years. As per the International
  Organization for Motor Vehicle Manufacturers,
  nearly 77.62 million cars and commercial vehicles
  were manufactured in 2020 worldwide.

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• Automotive radar sensors are expected to witness
  strong demand in the coming years, as leading
  automotive makers, including Tesla Inc, AB Volvo,
  Waymo LLC, and BMW are focusing on introducing
  highly automated cars to dominate the competitive
  market scenario. For instance, in March 2021,
  Honda Motor introduced its new level-3 autonomous
  luxury sedan in Japan.

• Automotive radar sensors held around 11 market
  share in 2020 and is anticipated to grow at 10
  CAGR through 2030. There has been growing
  incorporation of various sensor-based advanced
  safety, tracking, and autonomous systems, such as
  ADAS in automobiles to provide a safe and
  pleasant driving experience to riders. Radar
  sensors utilize echolocations and the time of
  flight technique to optimize the performance and
  detection capabilities of automotive safety
  systems.

• The incorporation of pressure sensors in various
  important components of heavy commercial vehicles
  (HCVs), such as suspension systems, chassis
  systems, powertrain systems, engine frames, and
  interior exterior systems plays a crucial role
  in maintaining vehicle balance, withstanding
  impacts, and enhancing the overall efficiency.

• The automotive sensors industry witnessed a
  market share of 30 from battery electric
  vehicles (BEV) in 2020 and is predicted to grow
  at 8 CAGR in the forthcoming years. Several
  stringent emission norms from fossil fuel
  automobiles are propelling the penetration of
  battery electric vehicles worldwide.

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• Regional Analysis

• Europe automotive sensors industry in the global
  market is projected to witness a CAGR of 6
  through 2030. The growth is attributed to several
  government norms to promote the integration of
  advanced safety systems in automobiles. Citing an
  instance, in June 2019, European Commission
  introduced the Vision Zero program for EU road
  safety.
• This program aims to mandate the integration of
  various safety features, such as automatic
  emergency braking, lane departure warning, and
  drowsiness attention detection systems in new
  vehicles by 2022. Additionally, the presence of
  various favorable policies promoting the adoption
  of EVs and clean fuel options would complement
  the automotive sensors business across Europe.

• Competitive Analysis

• Prominent automotive sensors market participants
  include Robert Bosch GmbH, Infineon technologies,
  Continental AG, Magna International, Inc., Texas
  Instruments Incorporated, NXP Semiconductor N.V.,
  among others.

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