According to “Global Markets for Automotive Sensor Technologies Report”, new research estimates that global market for automobile sensors reached nearly $23.5 billion in 2015, $26.3 billion in 2016, and should reach $43.4 billion by 2021, a five year compound annual growth rate (CAGR) of 10.6% from 2016 to 2021.
Modern automobiles rely on many electronic systems to meet efficiency and security standards as well as environmental regulations. Automotive electronics systems per vehicle is on the rise, to satisfy the U.S. government regulations of safety and emissions and the consumer demand for safety, comfort, infotainment applications and fuel efficiency. As the electronics systems increase in automobiles, the number of automotive sensors used in vehicles is also increasing as these sensors are vital components of automotive electronic systems. Worldwide increase in vehicle production, technology developments, customer preference and the U.S. government’s mandates are increasing the market for automotive sensors.
In modern automobiles, different types of sensors are needed for many important tasks, ranging from engine performance and passenger safety to comfort and vehicle dynamic behavior. The need for sensors is continuously evolving and growing. The application market for automotive sensors covers power train, body electronics, vehicle security system, safety and control. The increasing demand of Advance Driver Assistance Systems (ADAS) and hybrid and electric vehicles are the future opportunities for automotive sensors. Sensor technologies like micro-electromechanical systems (MEMS) sensor, wireless sensor, radar, etc., are the future of automotive sensors. Of these, MEMS is the most promising and is likely to emerge as a leader in the automotive world.
Increased demand for convenience, comfort, safety, efficiency and environmental protection drives the automotive sensor market. Sensors integrated with electronics, communications and computer intelligence are poised for a growth surge. “Smart sensors” or “intelligent sensors” are integrated sensors with intelligence and will be used in conjunction with all types of devices. The advent of the “smart car” has major implications for the automobile industry as well as the sensor industry. This report will study the route, which is being taken by various automobile and sensor manufacturers, in achieving the ultimate goal of the “smart car.”
The report should attract the attention of engineering technologists and make them more aware of how sensors can contribute to system control and monitoring in an automobile. This report is intended to serve as a valuable resource for all personnel involved in the design and production of automobile sensors, associated systems and automobiles; for researchers working in the development of new sensor technologies for use in various automobiles; and for manufacturers of different types of automobile sensors.
Automotive Sensor Technologies and Markets