The global automotive sensors market was valued at USD 24.3 billion in 2020 and is estimated to reach USD 47.5 billion by 2026, registering a CAGR of 13.6% during the forecast period. Growing inclination of consumers toward alternative fuel vehicles to reduce GHG emissions, propelling the demand for automotive sensors worldwide.
The key players operating in the automotive sensors market are Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Infineon Technologies AG (Germany), BorgWarner, Inc. (US), Sensata Technologies (US), Allegro Microsystems, Inc. (US), Analog Devices, Inc. (US), ELMOS Semiconductor SE (Germany), Aptiv plc (Ireland), NXP Semiconductors N.V. (Netherlands), STMicroelectronics N.V. (Switzerland), CTS Corporation (US), Autoliv, Inc. (Sweden), TE Connectivity (Switzerland), ZF Friedrichshafen (Germany), Valeo S.A. (France), Magna International (Canada), Melexis N.V. (Belgium), ON Semiconductor (US), Amphenol Advanced Sensors (US), LeddarTech (Canada), Velodyne LiDAR (US), Quanergy (US), and Innoviz Technologies (Israel). These players have adopted various growth strategies, such as product launches, collaborations, expansions, partnerships, agreements, acquisitions, joint ventures, and contracts to retain their presence in the automotive sensors market. Product launches has been the most dominating strategy adopted by the key players from January 2018 to November 2021 to help them strengthen their product portfolio and broaden their customer base.
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Robert Bosch GmbH, held the leading position in the automotive sensors market as one of the key providers of automotive sensors. The company held 10.0–12.0% of the automotive sensors market in 2020. To strengthen its market position, the company is focusing on several organic and inorganic growth strategies, such as product launches, joint ventures, collaborations, partnerships, and agreements. It focuses on investing in R&D to sustain its position in the market.
Continental AG and DENSO Corporation have fortified their positions primarily through product launches, collaborations, partnerships, acquisitions, expansions, and agreements. Their revenues have been growing faster than that of other market players. As these companies adopt a mix of organic and inorganic growth strategies, their profit margins may continue to grow over the next few quarter.
Infineon Technologies AG and Sensata Technologies are the leading players in the automotive sensors market. Infineon and Sensata generate most of their revenues from Asia and the Americas, respectively. Moreover, the companies have been focusing on organic and inorganic growth strategies and significantly investing in R&D during the research period.
Automotive Sensors Market with COVID-19 Impact Analysis by Sales Channel (OEM, Aftermarket), Type (Temperature Sensors, Pressure Sensors, Position Sensors), Vehicle Type, Application (Powertrain Systems, Chassis), Region - Global Forecast to 2026
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