The size of the global automotive sensors market will increase USD 11 billion between 2016-2021, accelerating at a CAGR of 7% during the forecast period. This growth in market size will be attributed to the introduction of stringent emission norms. With growing health and environmental concerns, governments across the globe are focusing on implementing stringent emission norms and since emission sensors play a major role in decreasing the emission of toxic gases from vehicles, the introduction of such automotive emissions, will drive the growth of automotive sensor market.
The implementation of HDR camera sensors is the major emerging trend expected to gain traction within in the automotive sensors market space during the forecast period. Since self-driving cars primarily use radars, LiDAR sensors, and video cameras for tracking road signs, vehicles, pedestrians, and other obstacles, sensors that are being used in most self-driving vehicles face challenging situations such as flickering LEDs or a sudden transition into a tunnel on a sunny day. To combat these challenges, HDR sensors are being designed to withstand all extreme conditions. For example, Sony's latest automotive camera sensor has high sensitivity, high dynamic range (HDR) capability and anti-flicker technology that is designed specifically to help autonomous vehicles function in less than ideal conditions. Other insights provided within our automotive sensors market reports include:
View more automotive sensor market research insights: Download a free sample report now
Within our automotive sensors industry analysis, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market by automotive sensors types, vehicle types, and applications. By application, the powertrain sensors segment owns the largest market share within the automotive sensors industry, holding a lead behind the automotive chassis sensors segment.
The global automotive powertrain sensors market will grow at a CAGR of 6% between 2017-2021, reaching USD 26.5 billion in market size by the end of the forecast period. This growth in market size will be attributed to owing to rising demand for fuel-efficient, low emissions, and safe vehicles. Process sensors are the largest segment, accounting for approximately 48% of the automotive powertrain sensors market share. These sensors are typically used to monitor temperature and pressure for applications about passenger safety and vehicle security. We forecast the size of the global process sensors market to reach nearly USD 13 billion by 2021.
During the forecast period 2017-2021, the global automotive chassis sensors market is expected to grow at a CAGR of around 3%, owing to the growing acceptance of sensor technology and the implementation of stringent regulations for emission control. Regionally, the Asia-Pacific (APAC) dominates the automotive chassis sensors market, accounting for nearly 50% of the market share in 2016. The growing demand for vehicles from APAC countries like China, South Korea, and India is attracting global automotive manufacturers to invest and run operations in these countries, which will further drive the growth of the automotive chassis sensors market in the region.
Our automotive sensors market segmentation research offerings include:
We at Technavio, with our comprehensive understanding of the automotive sensors market, have been monitoring the latest industry trends and developments to create an in-depth portfolio market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our automotive sensors market reports offer the following insights: