US Automotive Sensors Market Outlook
The US Automotive Sensors Market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031 expanding at a CAGR of 10% during 2023 – 2031. The growth of market is attributed to the constant investments of automotive industries in smart sensor technologies, shifting focus towards artificial intelligence and machine learning, and micro and on-chip system available in wide range.
With the growing demand for safety and comfort by the consumers demand for technologies such as anti-lock braking system (ABS), lane changing warning, adaptive cruise control (ADS), and electronic stability control are some of the features that offer safety and assurance to the driver and provide a stress free driving environment.
Several automotive manufacturers are on the planning to introduce a new feature in their upcoming projects which prevent children and pets that are being left unattended in the vehicle.
Sensors play a very important role in electronic control system in vehicles. Several sensors such as temperature sensor, mass airflow, speed sensor, and more are demanded and are used extensively in automotive segment, theses sensors ensure the safety operations of the vehicles through detecting, analyzing, and managing the performance of vehicle based on internal and external environment.
The COVID-19 pandemic has had a severe impact on automotive industry, causing several industries in temporary closure, great disruption in supply chain, and international trade barriers due to imposition of lockdown protocols by the government of the countries.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing focus on artificial intelligence and machine learning in vehicle is expected to boost the market during the forecast period.
- Growing investment and demand for smart autonomous technology and EV’s is estimated to propel the market during the forecast period.
- R&D and technological advancement towards various feature in the vehicles which ensure the safety of the children and pets left unattended drives the market in the coming years.
- Rising adoption of electric, hybrid, and fuel efficient vehicles by the consumers is anticipated to augment the market during the projected period.
- Increasing government initiatives and favorable framed policies about passenger security and safety is estimated to propel the market during projected period.
- Strict fuel emission regulations and safety drivers is expected to impel the market in the coming years.
- Cost of production of automotive sensors act as a factor that can hamper the growth of the market during the forecast period.
Scope of US Automotive Sensors Market
The report on the US automotive sensor market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Sensors Market – US Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Pressure Sensors, Temperature Sensors, Speed Sensors, Magnetic Sensors, Gas Sensors, Level/Position Sensors, and Inertial Sensors), Application (Power train, Vehicle Security system, Telematics, Body Electronics), Vehicle Types (Commercial Types, Passengers Cars, and Motorcycles)
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Country
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United States
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Robert Bosch GmbH; Continental AG; Nxp Semiconductors; Texas Instruments Incorporated; TE Connectivity.
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US Automotive Sensors Market segment insights
The pressure segment is expected to exhibit high CAGR
Based on types, the market is segregated into pressure sensors, temperature sensors, speed sensors, magnetic sensors, gas sensors, level/position sensors, and inertial sensors. The pressure segment is expected to exhibit high CAGR in the coming years owing to the sensors ensures the safety of passenger and the vehicles with the features such as with an impact swift deployment of airbags, improves efficiency, and effectively controls which sparks the diesel and gas engines, thus improving the engines performance.
The power train segment is estimated to hold large share of the market
On the basis of applications, the market is fragmented into power train, vehicle security system, telematics, and body electronics. The power train segment is estimated to hold large share of the market during the forecast period owing to the sensors which optimizes the fuel consumption and monitors the vehicles parameters such as pressure and temperature and accordingly control the engine unit, hence the components act as a main feature which improves the fuel efficiency.
The commercial segment is anticipated to accounts for a major market share
In terms of vehicles, the market is categorized into commercial types, passenger cars, and motorcycles. The commercial segment is anticipated to accounts for a major market share in the coming years due to the significant boom in construction and transportation industry, thus truck fleets are compel to invest in performance upgrade to improve fuel efficiency & comfort, increasing adoption of autonomous sensors and penetration of ADAS sensors in the automotive industry drives the market.
Segments
US automotive sensors market has been segmented on the basis of
Types
- Pressure Sensors
- Temperature Sensors
- Speed Sensors
- Magnetic Sensors
- Gas Sensors
- Level/Position Sensors
- Inertial Sensors
Applications
- Power train
- Vehicle Security system
- Telematics
- Body Electronics
Vehicles
- Commercial Types
- Passengers Cars
- Motorcycles
Country
Key players
Competitive Landscape
Key players competing in the US automotive sensors market include Robert Bosch GmbH; Continental AG; Nxp Semiconductors; Texas Instruments Incorporated; TE Connectivity.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance
In 2019, the subsidiary of TE Connectivity has acquired Silicon Microstructures Inc. (SMI) from Elmos Semiconducto AG.
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