Automotive Sensors Market Size, Share, Statistics and Industry Growth Analysis Report by Sales Channel (OEM, Aftermarket), Type (Temperature, Pressure, Oxygen, Position, Speed, Inertial, Image, Level, Chemical Sensors), Vehicle Type (Passenger Car, LCV, HCV), Application, Region - Global Forecast to 2028
[354 Pages Report] The global automotive sensors market size is projected to grow from USD 30.8 billion in 2023 and is anticipated to be USD 62.2 billion by 2028, growing at a CAGR of 15.0% from 2023 to 2028. Growing focus on implementing vehicle authentication to ensure driver safety and comfort, Minimizing driver stress through adoption of advanced driver-assistance systems drives market growth during the forecast period. Factors such as growing adoption of EVs and HVs to reduce CO2 emissions, increasing investments by automobile manufacturers in LiDAR technology provide market growth opportunities for the automotive sensors industry.
Automotive Sensors Market Forecast to 2028
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Automotive Sensor Market Dynamics
Driver: Advancements in sensor technologies to meet customer requirements
Sensors have become more compact, energy-efficient, and cost-effective, enabling seamless integration into various applications. Innovations, such as solid-state LiDAR, CMOS image sensors with enhanced resolution and low-light capabilities, and susceptible microelectromechanical systems (MEMS) accelerometers, have redefined the data collection and analysis landscape. These advancements have empowered businesses to gather real-time insights with unprecedented accuracy, driving efficiency gains, process optimization, and developing cutting-edge products and services that cater to evolving customer demands. The rise of electric and hybrid vehicles requires sensors to monitor battery health, temperature, charging status, and other critical parameters for optimal performance and safety. The demand for in-car infotainment, navigation, and connectivity features necessitates sensors, such as GPS and accelerometers, to provide accurate navigation data and enhance user experience.
Restraint: High cost of LiDAR automotive sensors
Automotive sensors come with a relatively high price tag, which can limit their widespread use. The cost is driven up due to the expensive raw materials, complex manufacturing processes, and increased demand for these sensors. This makes developing and implementing advanced sensor technologies difficult, especially in price-sensitive markets where the high cost can negatively impact adoption rates. Sensors are essential in vehicles for various functions, including safety, engine management, and comfort features. This diversity drives up costs due to the need to manufacture and integrate multiple sensor types within a single vehicle. Developing advanced sensor technologies demands substantial research, testing, and prototyping investment. Costs are incurred in exploring innovative sensor designs, materials, and functionalities to meet the evolving demands of the automotive industry. Rapid technological advancements lead to frequent updates and iterations of sensor designs. This ongoing innovation can inflate costs as manufacturers strive to stay at the forefront of sensor capabilities.
LiDAR sensors have become indispensable for advanced driver assistance systems (ADAS) and autonomous vehicles due to their accurate 3D mapping and object detection capabilities. However, their integration into the automotive industry has been limited due to the high cost of production. The automotive industry relies on mass production, whereas LiDAR sensors are typically manufactured at lower volumes, resulting in higher unit costs. Extensive investment in research and development, customization for automotive use, compliance with regulatory requirements, and adherence to performance standards all contribute to elevated expenses. Despite these barriers, industry efforts and innovations, such as solid-state LiDAR technology and increasing competition, are gradually driving cost reductions, promising more accessible LiDAR solutions for a broader spectrum of vehicles and applications in the future.
Opportunity: Rising demand for automotive aftermarket services
Aftermarket opportunities in the automotive sensors market referred to the potential for selling and installing sensor-based products and solutions in vehicles not equipped initially with those sensors by the manufacturer. This growth is driven by increased demand for safety features, the rising popularity of aftermarket car modifications, and the growing popularity of electric vehicles. Some specific aftermarket opportunities in the automotive sensor market are Blind spot monitoring systems, Lane departure warning systems, Parking sensors, Battery monitoring systems, and Solar charging systems. Older vehicles lack the advanced safety features that are now becoming standard in newer models. Aftermarket sensors can be installed to add features, such as lane departure warning, blind-spot detection, and collision avoidance systems. Retrofitting telematics devices can add connectivity features to older vehicles, enabling features, such as remote diagnostics, vehicle tracking, and mobile app integration. As Technology advances and consumer demand increases, the aftermarket automotive sensors market continues to grow as a viable business opportunity
Challenge: Need for high-performance sensors
The increasing automation of vehicles has led to a significant rise in the need for high-performance sensors. These sensors must possess a high level of sophistication to gather and analyze data rapidly and precisely. However, this demand has put a considerable burden on sensor manufacturers who are grappling to meet the requirements. The development of high-performance sensors is a challenge for sensor manufacturers. These sensors must be able to collect and process data quickly and accurately while being reliable and durable. In addition, it must operate in various conditions, including extreme temperatures, vibrations, and dust. They must be able to withstand the harsh environment of the automotive industry. Sensor manufacturers are working to develop new technologies that can meet these challenges. Sensor manufacturers are investing in research and development to meet this demand.
Automotive Sensors Market Ecosystem
The automotive sensors market is competitive. It is marked by the presence of a few tier-1 companies, such as Robert Bosch GmbH (Germany), ON Semiconductor (US), OMNIVISION (US), TE Connectivity (Germany), and Continental AG (Germany),. These companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable automotive sensors.
Original equipment manufacturer (OEM) segment to witness the highest growth during the forecast period
The original equipment manufacturer (OEM) refers to the manufacturers of original parts assembled and installed during the construction of a new vehicle. OEMs adopt the latest, mature products to meet the new AI and IoT technology-based sensor requirements. The automotive sensor manufacturers are highly focused on providing advanced sensors for vehicle safety and control applications. Automotive manufacturers are obliged to install automotive sensors during the manufacturing process due to government mandates regarding vehicle and road safety, fuel efficiency, and emission control worldwide. As a result, the market for technologically advanced automotive sensors is expected to proliferate, particularly in the context of autonomous vehicles.
Position sensors segment to hold the largest share of market between 2023 and 2028.
The growth of the position sensors segment can be attributed to the rising demand for autonomous cars and autopilot applications. Advanced technologies are increasingly being adopted in passenger and commercial cars because of the improving standard of living and rising consumer preference for better safety standards and comfort. Position sensors have become integral to vehicles, from vehicle seats and pedals to gear shifters. They ensure the safety and proper functioning of all vehicle components. Thus, innovation in automotive technology has increased the use of position sensors in vehicles.
Light commercial vehicle (LCV) segment to grow at second fastest CAGR during the forecast period
The rising focus of automobile manufacturers on adding safety features, such as ABS and EBD, along with infotainment systems, in LCVs helps the automotive sensors market flourish in this vehicle segment. The cyclic growth in the sales of LCVs due to the surging demand for goods and carriage vehicles is further driving the sales of LCVs. This increase in the sales of LCVs is expected to impact the automotive sensor market positively.
Powertrain systems segment held the largest share of the automotive sensor market during the forecast period
The powertrain system of any vehicle defines its performance, comfort, and safety. Powertrain systems/components manufacturers have been adopting hybrid powertrain systems to reduce fuel consumption. The need for sensors in powertrain systems is driven by governments and automobile manufacturers worldwide' strong focus on lowering emissions, improving fuel economy, meeting onboard diagnostic requirements, and offering best-in-class drivability.
Asia Pacific to grow at the fastest CAGR during the forecast period.
Government initiatives are pivotal in fostering sensor adoption and innovation. In Japan, the government actively promotes autonomous driving technology, stimulating the demand for sensors related to advanced driver assistance systems (ADAS) and autonomous vehicles. The strong push toward electric vehicles, backed by substantial government incentives, propels the demand for sensors related to EV batteries and charging infrastructure in China. Additionally, South Korea's focus on fifth-generation (5G) and sixth-generation (6G) network technologies catalyzes the development of connected vehicles, further boosting the market.
The region's growing middle-class population and youthful demographics contribute significantly to the surge in automobile demand, spurring innovation and adoption of sensor technologies across countries like India and China. As Asia Pacific continues to lead the global automotive industry in adopting advanced technologies and fostering a conducive regulatory environment, it is poised to be the largest automotive sensors market size in the coming years.
Automotive Sensors Market Statistics by Region
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Automotive Sensors Market Key Players
The automotive sensor companies is dominated by globally established players such as Robert Bosch GmbH (Germany), ON Semiconductor (US), OMNIVISION (US), TE Connectivity (Germany), Continental AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands), Denso Corporation (Japan), Panasonic (Japan), Allegro MicroSystems, Inc. (US), Sensata Technologies,Inc (US), BorgWarner, Inc. (US), Analog Devices, Inc. (US), ELMOS Semiconductor SE (Germany), Aptiv. (Ireland), CTS Corporation (US), Autoliv, Inc. (Sweden), STMicroelectronics (Switzerland), ZF Friedrichshafen AG (Germany), Quanergy Solutions, Inc. (US), Innoviz Technologies Ltd (Israel), Valeo S.A. (France), Magna International Inc. (Canada), Melexis (Belgium), and Amphenol Advanced Sensors (US). These players have adopted product launches/developments, contracts, collaborations, agreements, and acquisitions for growth in the market.
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Report Metric |
Details |
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Estimated Value |
USD 30.8 billion |
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Expected Value |
USD 62.2 billion |
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Growth Rate |
CAGR of 15.0% |
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Market size available for years |
2019–2028 |
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Base year considered |
2022 |
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Forecast period |
2023–2028 |
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Forecast units |
Value (USD Million/Billion) and Volume (Million) |
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Segments Covered |
By Sales Channel, By Sensor Types, By Vehicle Types, By Application, and By Region |
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Region covered |
North America, Europe, Asia Pacific, and the Rest of the World |
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Companies covered |
The key players in the automotive sensor market are Robert Bosch GmbH (Germany), ON Semiconductor (US), OMNIVISION (US), TE Connectivity (Germany), Continental AG (Germany), Infineon Technologies AG (Germany), NXP Semiconductors (Netherlands), Denso Corporation (Japan), Panasonic (Japan), Allegro MicroSystems, Inc. (US), Sensata Technologies,Inc (US), BorgWarner, Inc. (US), Analog Devices, Inc. (US), ELMOS Semiconductor SE (Germany), Aptiv. (Ireland), CTS Corporation (US), Autoliv, Inc. (Sweden), STMicroelectronics (Switzerland), ZF Friedrichshafen AG (Germany), Quanergy Solutions, Inc. (US), Innoviz Technologies Ltd (Israel), Valeo S.A. (France), Magna International Inc. (Canada), Melexis (Belgium), and Amphenol Advanced Sensors (US). |
Automotive Sensors Market Highlights
The study categorizes the automotive sensor market-based sales channel, sensor types, vehicle types, application, and region.
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Segment |
Subsegment |
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By Sales Channel |
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By Sensor Types |
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By Vehicle Types |
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By Application |
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By Region |
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Recent Developments
- In May 2023, ON Semiconductor (US) launched its Hyperlux automotive image sensor family, featuring industry-leading 150dB ultra-high dynamic range (HDR) and LED flicker mitigation (LFM).
- In June 2022, Allegro MicroSystems, Inc. (US) launched magnetic position sensors, A33110 and A33115, designed for advanced driver assistance systems (ADAS) applications..
- In May 2022, Infineon Technologies AG (Germany) launched the XENSIV 60 GHz radar sensor for automotive applications.
Frequently Asked Questions (FAQs):
Which are the major companies in the automotive sensors market? What are their major strategies to strengthen their market presence?
Robert Bosch GmbH (Germany), ON Semiconductor (US), OMNIVISION (US), TE Connectivity (Germany), and Continental AG (Germany) are some of the major companies operating in the automotive sensor market. Partnerships were the key strategies these companies adopted to strengthen their automotive sensor market presence.
What are the drivers for the automotive sensors market?
Drivers for the automotive sensor market are:
- Growing inclination of consumers toward alternative fuel vehicles to reduce GHG emissions
- Growing focus on vehicle authentication to ensure driver safety and comfort
- Minimizing driver stress through adoption of advanced driver-assistance systems
- Government incentives and grants to support R&D in automotive sensor technology
- Advancements in sensor technologies to meet customer requirements
What are the challenges in the automotive sensors market share?
Safety and security threats in autonomous vehicles, need for high-performance sensors, and reliance on associated technologies are among the challenges faced by the automotive sensor market.
What are the technological trends in the automotive sensors market?
Magnetic sensors, time-of-flight (ToF) sensor, and advanced driver assistance systems (ADAS) are a few of the key technology trends in the automotive sensor market.
What is the total CAGR expected to be recorded for the automotive sensors market from 2023 to 2028?
The CAGR is expected to record a CAGR of 15.0% from 2023-2028.
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The study involved four major activities in estimating the size of the automotive sensor market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
Revenues of companies offering automotive sensors worldwide have been obtained based on the secondary data accessed through paid and unpaid sources. They have also been derived by analyzing the product portfolios of key companies, rated according to the performance and quality of their products.
In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the automotive sensor market. Secondary sources considered for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. Secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.
Secondary research has been mainly used to obtain key information about the supply chain of automotive sensors to identify the key players based on their products and the prevailing industry trends in the automotive sensor market according to sensor type, sales channel, vehicle type, application, and region. It also includes information about the key developments undertaken from market- and technology-oriented perspectives.
Primary Research
Extensive primary research has been conducted after understanding and analyzing the current scenario of the automotive sensor market through secondary research. Several primary interviews have been conducted with key opinion leaders from the demand and supply sides across four regions—North America, Europe, Asia Pacific, and RoW. Approximately 25% of primary interviews were conducted with demand and ~75% with supply side. Data was collected through questionnaires, emails, and phone interviews..
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Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the automotive sensor market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
- Identifying the number of automotive sensors shipped at the global level.
- Determining average selling prices of automotive sensors shipped globally.
- Conducting multiple discussion sessions with key opinion leaders to understand different automotive sensors and their deployment in various products and applications; analyzing the break-up of the work carried out by each key company.
- Verifying and crosschecking estimates at every level with key opinion leaders, including chief executive officers (CEO), directors, and operation managers, and finally, with the domain experts of MarketsandMarkets.
- Analyzing various paid and unpaid sources of information such as annual reports, press releases, white papers, and databases of the company- and region-specific developments undertaken in the automotive sensor market.
Market Size Estimation Methodology-Bottom-up Approach
Market Size Estimation Methodology-Top-Down Approach
Data Triangulation
After arriving at the overall size of the automotive sensor market through the process explained above, the total market has been split into several segments and subsegments. Where applicable, market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from the demand and supply sides. The market has also been validated using top-down and bottom-up approaches.
The main objectives of this study are as follows:
- To segment and forecast the global automotive sensor market, by sales channel, sensor type, vehicle type, and application in terms of value and volume
- To describe and forecast the market size of various segments across major regions, namely, North America, Europe, Asia Pacific, and Rest of World (RoW), in terms of value and volume
- To provide industry-specific information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the automotive sensor market
- To provide an overview of the supply chain of the automotive sensor ecosystem, along with the average selling prices of automotive sensors
- To strategically analyze the ecosystem, tariffs and regulations, patent landscape, Porter’s five forces, technology trends, regulations, import and export scenarios, trade landscape, and case studies pertaining to the market under study
- To strategically analyze micromarkets1 concerning individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders by identifying high-growth segments
- To provide details of the competitive landscape for market leaders
- To analyze competitive developments such as product launches, collaborations, expansions, partnerships, agreements, acquisitions, joint ventures, and contracts in the automotive sensors market
- To profile key players in the automotive sensor market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies.
Market Definition
Automotive sensors transform (or transduce) physical variables, such as pressure or acceleration, into electrical output signals that serve as inputs for control systems. Sensors are essential components of automotive electronic control systems. Various sensors monitor and control several parameters in an automobile, such as speed, position, level, pressure, inertia, temperature, oxygen level, nitrogen oxide (NOx) level, and position. The data collected by these sensors is provided to the electronic control unit (ECU) for control actions. This data helps improve vehicle performance, passenger and road safety, comfort, and travelers' convenience.
The car dictionary defines automotive sensors as sensors that are the sensory organs of a vehicle. They are a fundamental component of electronic control systems and must record physical or chemical variables and convert them into electrical signals.
Automotive sensors are intelligent systems that control different aspects, such as temperature, coolant levels, oil pressure, and vehicle emission levels. Over the past 30 years, electronic systems for vehicles have changed significantly. With advancements in automotive technology, more automobile manufacturers are integrating automotive sensors to offer higher vehicle control and safety levels.
Stakeholders
- Raw material suppliers
- Original equipment manufacturers (OEMs)
- Technology solution providers
- Research institutes
- Market research and consulting firms
- Governments and financial institutions
- Analysts and strategic business planners
Research Objectives
- To define, describe, and forecast the automotive sensor market size, sales channel, sensor types, vehicle types, application, and region in terms of value and volume
- To forecast the market size, in terms of value, for various segments with respect to four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To strategically analyze the micro markets with respect to individual growth trends, prospects, and contributions to the overall market
- To identify the drivers, restraints, opportunities, and challenges impacting the growth of the market and submarkets
- To analyze the automotive sensor supply chain and identify opportunities for the supply chain participants
- To provide key technology trends and patent analysis related to the automotive sensor market
- To provide information regarding trade data related to the automotive sensor market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the automotive sensor ecosystem
- To strategically profile the key players in the automotive sensor market and comprehensively analyze their market shares and core competencies in each segment
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio
- To analyze competitive developments such as product launches, alliances and partnerships, joint ventures, and mergers and acquisitions in the automotive sensor market
Available Customizations:
MarketsandMarkets offers the following customizations for this market report:
- Further breakdown of the market in different regions at the country-level
- Detailed analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Automotive Sensors Market
I'd be grateful if I have sample pages on (2.1.1. Automotive Sensor Market Value, By Application) and (2.1.2 Automotive Sensor Market Value, By Product Type)
Dear Sir/Madam...I am a journalist in the process of finalizing an article for the October issue of Electronic Products Magazine (US) on automotive sensors. I would appreciate receiving your forecast for automotive sensors from 2012 to 2020 with the CAGR noted.
Interested in temperature, climate, oxygen, air quality, humidity sensor cluster trends and future technology roadmap.
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I know this market well, I want to see if this would be helpful to me. For instance I would be interested in the view of wheel speed sensors or steering angle sensors.
Need information on sensors for auto market, with focus on emissions and fuel econ. Has this report been updated to capture the regulation changes / delays by North America and Europe that occurred late 2018?
We are reviewing where to take our auto sensors business. In particular, we're interested in purchasing a company that can manufacture a full array of automotive sensors. Should we purchase someone with these capabilities or partner with them on the development and marketing of these sensors? Need as much data (up to date). As this is a document using 2016 data, an updated one would be appreciated.
Interested in ME sheet of the report only.
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I am looking at: automotive sensor market continuous technological advancements, supportive government and environment regulations, increasing vehicle production, and customer preferences. I am trying to understand end market trends, opportunities for TAM expansion, etc.
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Special interested in commercial vehicles (trucks and heavy duty), development trends, sensors price erosion and sensors supply chain analysis.