Automotive Sensors Market Size To Grow At A CAGR Of 9.50% In The Forecast Period Of 2023-2028.

30 NORTH GLOUD STREET, WYOMING, UNITED STATES, September 14, 2023/EINPresswire.com/ -- Automotive Sensors Market Outlook

According to a new report by Expert Market Research titled, “Automotive Sensors Market Size, Share, Analysis, Report and Forecast 2023-2028″, the automotive sensors market is projected to grow at a CAGR of 9.50% between 2023 and 2028. Aided by the increasing demand for advanced vehicle safety systems, fuel efficiency, and vehicular comfort, as well as the broadening applications of sensors in automotive manufacturing, the market is expected to grow significantly by 2028.

Automotive sensors are essential parts that keep track of and report on a variety of vehicle factors, including pressure, temperature, speed, and other important metrics. The powertrain, chassis, body electronics, safety, and control, among other vehicle systems, all employ them. These sensors increase overall vehicle performance, comfort while driving, and fuel efficiency in addition to assuring the safe functioning of vehicles.

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The escalating consumer demand for safer, more efficient, and comfortable vehicles is driving the growth of the global automotive sensors market growth. There has been a significant shift towards automobiles outfitted with cutting-edge sensor technologies as a result of growing legal regulations pertaining to vehicle emissions and increased awareness of vehicular safety. The introduction of electric and hybrid vehicles has also increased demand for automotive sensors as these vehicles significantly rely on a variety of sensors for efficient operation.

Broadening applications of automotive sensors across various vehicle systems also significantly contribute to the automotive sensors market expansion. For instance, in engine management and transmission control, sensors aid in optimising fuel efficiency and reducing emissions. They are used in safety and control systems, such as Anti-lock Braking System (ABS), Electronic Stability Control (ESC), and airbags, to enhance vehicle safety. Further, the application of sensors in comfort features like automatic climate control, seat adjustment, and lighting control enhances the overall driving experience.

Moreover, the increasing popularity of autonomous and connected vehicles has put automotive sensors in the spotlight. These vehicles rely on a multitude of sensors like LiDAR, radar, ultrasonic, and camera modules to perceive their surroundings and make intelligent decisions. This trend, coupled with the advancements in sensor technology, is expected to provide a significant boost to the automotive sensors market demand in the forthcoming years.

The incorporation of technologies like the Internet of Things (IoT) and artificial intelligence (AI) in the automotive industry is also set to revolutionise the automotive sensors market. These technologies enable real-time data collection and analysis, predictive maintenance, and vehicle-to-vehicle (V2V) and vehicle-to-infrastructure (V2I) communication, thereby increasing the importance of sensors in vehicles.

Explore the full report with the table of contents@ https://bit.ly/3sZj3BW

Automotive Sensors Market Segmentation

The market can be divided based on sensor type, application, sales channel, vehicle type, and region.

Market Breakup by Sensor Type

Temperature Sensors
Pressure Sensors
Level/Position Sensors
Speed Sensors
Gas Sensors
Magnetic Sensors
Others

Market Breakup by Application

Powertrain
Chassis
Vehicle Body Electronics
Safety and Control Systems
Telematics Systems
Exhaust Systems
Others

Market Breakup by Sales Channel

Original Equipment Manufacturer (OEM)
Aftermarket

Market Breakup by Vehicle Type

Passenger Car
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global automotive sensors companies. Some of the major key players explored in the report by Expert Market Research are as follows:

Infineon Technologies AG
Robert Bosch GmbH
NXP Semiconductors N.V.
Continental AG
Littelfuse, Inc.
Others

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Expert Market Research
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