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What Growth Rate is the Automotive Sensors Market Anticipated to Experience from 2025-2034?

The size of the automotive sensors market has experienced swift expansion in previous years. The market size is projected to escalate from $31.94 billion in 2024 to $36.06 billion in 2025, marking a compound annual growth rate (CAGR) of 12.9%. This remarkable growth in the historic period can be linked to factors such as regulatory policies, an increase in sales of passenger cars, economic prosperity, and government incentives.

In the coming years, the market size of automotive sensors is predicted to undergo swift expansion. It’s anticipated to reach a value of $59.05 billion in 2029, with a compound annual growth rate (CAGR) of 13.1%. This growth during the forecast period can be credited to rising concerns for vehicle safety, increasing vehicle sales, growing number of connected vehicles, enlarging urbanization, and elevated disposable income. Key trends expected during this forecast period encompass advancements in lidar technology, the rise of in-cabin sensing, 5g connectivity, the development of solid-state sensors, and sensor fusion.

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What Are the Significant Influencers of Growth in the automotive sensors Market?

The anticipated surge in the utilization of driverless vehicles is predicted to fuel the expansion of the automotive sensors market. Autonomous vehicles, which are engineered to function independently without any human input, utilize automotive sensors which have been instrumental in reducing driver fatigue and enhancing vehicle efficiency. For example, a report released in August 2022 by the US-based road safety non-profit organization, Insurance Institute for Highway Safety, predicted that American highways will be populated by 3.5 million self-operated vehicles by 2025, and this number will rise to 4.5 million by 2030. The expected economic and societal influence of interconnected and autonomic vehicles in the UK is estimated to reach approximately £51 ($ 66.79) billion annually by 2030. Therefore, the accelerating adoption of driverless vehicles is significant in driving the expansion of the automotive sensors market.

What Key Segments Define the Automotive Sensors Market?

The automotive sensors market covered in this report is segmented – _x000D_

_x000D_

1) By Type: Temperature Sensors, Pressure Sensors, Speed Sensors, Level/Position Sensors, Magnetic Sensors, Gas Sensors, Inertial Sensors_x000D_

2) By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle_x000D_

3) By Technology: Nano-Electro-Mechanical Systems, Micro-Electro-Mechanical Systems_x000D_

4) By Application Type: Powertrain, Chassis, Exhaust, ADAS, Other Applications_x000D_

_x000D_

Subsegments:_x000D_

1) By Temperature Sensors: Thermocouples, Thermistors, Infrared Temperature Sensors _x000D_

2) By Pressure Sensors: Piezoelectric Pressure Sensors, Strain Gauge Pressure Sensors, Capacitive Pressure Sensors _x000D_

3) By Speed Sensors: Hall Effect Speed Sensors, Inductive Speed Sensors, Optical Speed Sensors _x000D_

4) By Level/Position Sensors: Ultrasonic Level Sensors, Capacitive Level Sensors, Linear Position Sensors _x000D_

5) By Magnetic Sensors: Hall Effect Sensors, Magnetoresistive Sensors, Fluxgate Sensors _x000D_

6) By Gas Sensors: Oxygen Sensors, Carbon Dioxide Sensors, Nitrogen Oxide Sensors _x000D_

7) By Inertial Sensors: Accelerometers, Gyroscopes, Inertial Measurement Units (IMUs)

What Are the Key Developments Shaping the Automotive Sensors Market?

An emerging trend in the automotive sensor market is the increasing utilization of pressure sensors within the automotive industry. These sensors prove valuable in early detection of faults in hydraulic brakes, adjusting the fuel blend to meet air pressure demands, automatic exhaust filter cleaning, monitoring exhaust recirculation, conducting crucial fluid tests, detecting vapour leaks, accelerating airbag deployment, and activating pedestrian airbags. Highlighting this trend, Melexis Microelectronics Engineering Company unveiled a new range of PCB-less pressure sensor ICs in November 2022, namely MLX90824 and MLX90822. These sensors are designed for high precision and enduring stability, with a maintained accuracy of ±0.5%FS throughout their lifetime. The MLX90824 outputs digital data using the SENT protocol, while the MLX90822 outputs analog data, making it suitable for applications needing quick response times, such as motorcycles and small engines. Both sensors offer robust overvoltage and reverse voltage protection, are functional in temperatures ranging from -40°C to 160°C, and adhere to ISO 26262 safety regulations.

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What Regions Are Driving Expansion in the Automotive Sensors Market?

Asia-Pacific was the largest region in the automotive sensors market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive sensors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Automotive Sensors Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the automotive sensors market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Automotive Sensors Market Include

1. Automotive Sensors Market Executive Summary

2. Automotive Sensors Market Segments

3. Automotive Sensors Market Size And Template Market Growth Rate

4. Key Automotive Sensors Market Trends

5. Major Automotive Sensors Market Drivers

……

25. Key Mergers And Acquisitions In The Automotive Sensors Market

26. Top Automotive Sensors Companies

27. Automotive Sensors Market Opportunities And Strategies

28. Automotive Sensors Market, Conclusions And Recommendations

29. Appendix

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