Automotive Sensors Market To Reach $ 37.65 Billion By 2027:

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Portland, June 18, 2020 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the automotive sensors market generated $ 16.40 billion in 2019 and is estimated at reach $ 37.65 billion by 2027, the registration of a 10.2% CAGR from 2020 to 2027. The report offers in-depth analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

The increase in the use of automotive sensors in electric and hybrid cars and the growing demand for custom designed electronic devices are driving the growth of the global automotive sensors market. However, the high cost associated with the development of automotive sensors is holding back the growth of the market. In addition, increasing technological innovations in the automotive industry are expected to create new growth opportunities for market players during the forecast period.

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Covid-19 scenario:

  • Demand for auto sensors is likely to decline during the Covid-19 pandemic, as several auto makers around the world halted production operations amid the lockdown.
  • Sales of auto sensors are expected to fall during the coronavirus pandemic due to the supply chain negatively affected amid the lockdown.
  • In countries like China and India, governments are lifting lockdown restrictions to start industrial activities. This is probably a huge opportunity for growth and maximum revenue generation for several automotive sensor manufacturers present in these countries.

The report offers detailed segmentation of the global automotive sensors market on the basis of type, application, and region.

On the basis of type, the temperature sensors segment contributed the largest share in 2019, accounting for more than a quarter of the total share, and is expected to maintain its dominant position during the forecast period. However, the gas sensors segment is estimated to represent the highest CAGR of 14.7% during the forecast period.

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On the basis of applications, the powertrain segment accounted for the largest share in 2019, holding almost a quarter of the total share, and is expected to retain the largest share throughout the forecast period. However, the body electronics segment is expected to register the highest CAGR of 12.7% from 2020 to 2027.

Based on region, Asia-Pacific contributed the highest share, accounting for almost half of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is expected to grow at the highest CAGR of 11.3% from 2020 to 2027. The research also addresses regions such as North America, Europe and LAMEA.

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Major market players analyzed in the research include DENSO Corporation, Robert Bosch, Continental AG, Autoliv Inc, Delphi Automotive Company, Valeo, NXP Semiconductor, Sensata Technologies, Infineon Technologies AG and STMicroelectronics NV.

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About Us:

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.


        
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