Automotive Sensors Market Share: In-Depth Coverage And Various Important Aspects by 2030

Automotive Sensors Market Opportunity
Analysis and Growth Forecast to 2030
While vehicles have had a huge positive impact on lives of human beings, their safety
has always been a cause for concern. The rising number of road accidents, most of
which are related to the inattentiveness of the driver, have made things worse across
the globe. Because of this, governments of several countries have implemented strict
laws regarding the integration of safety features in vehicles, which, in turn is resulting in
the increasing demand for automotive sensors. These intelligent sensors can be utilized
for controlling and processing the temperature, coolant levels, pressure of oil, and level
of emission. Moreover, automotive sensors effectively recognize a problem and solve
the ones that can be solved.
The major function of automotive sensors is to make the vehicle and roads safer for
drivers as well as pedestrians. Owing to these factors, the global automotive sensors
market is expected to attain a value of $58,215.3 million in 2030, growing from
$25,723.8 million in 2019, advancing at a 7.4% CAGR during the forecast period (2020–
2030). Different types of automotive sensors are level sensors, pressure sensors, gas
sensor, torque sensors, optical sensors, oxygen sensors, motion sensors, position
sensors, and temperature sensors.
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Out of all these, the demand for position sensors was the highest in the past, which is
due to the wide usage of these sensors in several vehicle parts, including clutch,
chassis, brakes, transmission, and engine, for determining motor rotor position, throttle
position, positions of different actuators, valves, and knobs, steering wheel position,
gear position, seat positions, and pedal positions. Apart from this, the demand for
optical sensors is also predicted to grow at a significant pace in the near future, as their
adoption in autonomous vehicles is projected to grow.
Among the different vehicle types, the largest demand for automotive sensors was
created for passenger vehicles in 2019 in order to increase the safety and security of
these vehicles. Furthermore, various technological advancements are being made in
the automobile industry when it comes to autonomous driving and electrification of
vehicles, which is why sensors are being implemented in these vehicles.
Geographically, Asia-Pacific has been the largest automotive sensors market, which
can be attributed to the fact that China is the major producer of automobiles and

accounts for more than 50% of the worldwide vehicle production, thereby creating high
volume demand for automotive sensors.
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In conclusion, the demand for automotive sensors is growing for increasing the safety
on roads and providing an improved driving experience.