Automotive Sensors Market Demand, Share, Report 2022-2028

1. Automotive Sensors Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2022-2028

2. Global Automotive Sensors Market, 2028 – Industry Trends & Forecast BlueWeave Consulting, a leading strategic consulting and market research firm, in its recently published report, estimated the size of Global Automotive Sensors Market at USD 23.14 billion in 2021. Also, BlueWeave expects Global Automotive Sensors Market to expand at a double-digit CAGR of 11.3% between 2022 and 2028 to reach a value of USD 48.31 billion by 2028. Major growth drivers for Global Automotive Sensors market include an increasing demand for autonomous vehicles across major world economies.

3. Growth Drivers Rapidly Increasing Demand for Pressure Sensors To meet passenger car safety regulations, contemporary vehicle restraint systems include side airbag pressure sensors. The central airbag unit receives digital collision signals from the pressure sensor, which is built into the side doors of the car. The air pressure sensor also increases engine efficiency in gasoline and diesel engines by efficiently managing spark advance. As a result, global automotive sensors market is expected to grow as pressure sensors are increasingly used in engines and car safety systems.

4. Restraints  High Costs and Restrictions during Bad Weather The cost of the sensors employed in Advanced Driver Assistance Systems could not be brought down to goal levels due to the tiny production volumes. Furthermore, it is increasingly challenging to discern between system noise and signals, such as road impediments, because most modern sensors have a constrained signal bandwidth and measuring range. Additionally, monitoring moving objects is more difficult in less-than-ideal conditions, such as rain or blizzards. This, in turn, could impede the growth of global automotive sensors market.

5. Impact of COVID-19 on India Electric Bicycle (E-Bike) Market Several automotive sensor companies were significantly hit by the lockdown and economic crisis brought on by the COVID-19 outbreak. Significant resource bottlenecks in the worldwide supply and logistics chains have affected many automotive sensor manufacturers' companies in a noticeable unfavorable way in 2020. Most global supply chains were disrupted in Q1 2020, small and medium-sized firms were financially depleted, and automobile sales declined. Due to the pandemic's effects, there is less demand for automotive sensor testers, automotive sensor connectors, and automotive sensor simulators. Reduced output directly leads to a huge loss in sales and profitability in 2020, lowering R&D investments by key market competitors.

6. Regional Insights Geographically, Global Automotive Sensors Market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. Among the major regions, APAC holds the highest market share in global automotive sensors market. The APAC market expansion is fueled by rising personal disposable income levels and readily available cheap labor. Efforts by governments across the APAC countries to improve road safety standards are also expected to boost the regional market expansion during the period in analysis. For example, the Indian Ministry of Road Transport has made it mandatory to install airbags, seat belt reminders, alarm systems, and reverse parking sensors in vehicles travelling at speeds greater than 80 km/h.

7. Competitive Landscape Major players in the global automotive sensors market include 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), and Aptiv plc (Ireland). Sample Copy: https://www.blueweaveconsulting.com/report/automotive-sensors-market/report-sample

8. Recent Developments VitescoTechnologies, the powertrain branch of Continental AG, partnerships with ROHM Semiconductor, a manufacturer of silicon carbide power components in June 2020 to employ the Automotive Sensor technology in high-power electronics for electric vehicles. Infineon Technologies acquired Cypress Semiconductor in April 2020. The acquisition will broaden its application portfolio, including automotive semiconductors, sensors, and microcontrollers.

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