With a CAGR of 8.3%, the market for automotive crash sensors is projected to increase in value from USD$37.01 billion in 2022 to USD$73.48 billion by 2032.
Increased adoption of automotive collision sensors in a variety of cars is one of the key drivers of this phenomenal expansion. Major corporations in the automotive industry are becoming more interested in vehicle crash sensors as a result of their dependability and capacity to operate under demanding conditions. These tools are frequently used to gauge environmental changes. Pressure, speed, and control changes are detected by automotive crash sensors, which translate them into signals.
| Report Attribute | Details |
|---|---|
| Automotive crash sensors market Value (2022) | US$ 37.01 Billion |
| Automotive crash sensors market Anticipated Value (2032) | US$ 73.48 Billion |
| Automotive crash sensors market Growth Rate (2022 to 2032) | 8.3% CAGR |
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Increasing consumer desire for comfort, safety, and convenience, as well as bettering governmental safety regulations, are some of the reasons driving the global market for automotive crash sensors. Additionally, the new generation of sensors' high efficiency and low cost is anticipated to promote market expansion.
The research evaluates the major variables impacting the market for vehicle crash sensors. In our global market research study, we thoroughly & in-depth discuss elements that have a significant impact on market demand as well as restraint factors that have an impact on the market's development.
Asia Pacific (China, Japan, India, and the rest of Asia Pacific), North America (the United States, Mexico, and Canada), Europe (the United Kingdom, Germany), and the rest of the world are all considered in studies of the worldwide automobile crash sensors market. Due to increasing demand for safer vehicles, a growing automobile industry, and a growing population in emerging economies like China and India, During the projection period, Asia Pacific is anticipated to have the biggest market share and grow at the highest CAGR. The region was able to maintain its economy during the financial crisis and has thus been at the forefront in terms of vehicle sales and production globally.
Due to the infrastructural improvements that are accelerating the market expansion for automobile crash sensors in the anticipated years, North America is anticipated to experience substantial growth over the future years. Over the past few years, Mexico's growing economy has led the way in terms of inbound foreign direct investments in the automobile sector. However, because of the rising need for safer and more fuel-efficient automobiles, Europe is one of the emerging markets for automotive sensors. The demand for automotive sensors is anticipated to increase significantly during the projected period due to the rising popularity of vehicle automation and the rising demand for connected automobiles in the area.
The vehicle crash sensor industry is fragmented on a global scale. The fact that there are so many established competitors in this sector indicates that there is the fierce rivalry. As a result, in order to survive in this fierce competition, new players in the automobile crash sensor market will need to employ a variety of tactics. Concentrating on research initiatives can aid both new and seasoned players in raising the calibre of the goods they provide.
Demand for more advanced technology in the automotive crash detection industry has increased the automotive sensor industry's CAGR each year, with the upsurge in the demand for advanced safety vehicles an important driver. Large automotive sensor firms are increasing their varieties of advanced vehicle safety features regularly to maintain their competitive edge.
Automotive crash sensors are gaining in popularity as governments have mandated deployment of such systems and sensors for use in railway lines, buses, and defense vehicles, among other sectors.
Automotive crash Sensor market has witnessed historic growth rate of 2.8% through the 2017 to 2021.
COVID-19 has badly impacted the electronic, semiconductor, automotive industries. European and Asian countries faced huge losses because of the shutdown of manufacturing units and disrupted global supply chains.
The potential for this industry to earn robust revenue in the coming years is anticipated. Furthermore, it's predicted that the need for automotive collision-avoidance sensors and assist-driving solutions will improve based on accelerated adoption of electric cars, ADAS, and Autonomous driving technology vehicles.
For the past few years, the automotive industry has witnessed significant innovation, development, and utilization of sensor technologies. Moreover, various technological innovations such as wireless technologies, machine integration with the IoT, technological competency, AI, and awareness about health and safety are major growth-inducing factors that will boost the market growth in the coming years.
Principal Consultant
Governments strengthening rules and regulations in passenger vehicle safety and rising awareness are key drivers for the automotive crash sensor market. Other factors contributing to the adoption of automotive sensors include Consumer’s inclination toward luxury and premium vehicles, the shifts in the consumer’s lifestyle, the push for electric vehicles from local government-sponsored programs, the multipurpose uses of crash sensors in the vehicle, and prevention from crashes preventing the need for costly repairs and improving the life of vehicles.
Embodiments of vendor innovation in sensor architectures for end-users is enhancing sales prospects for automotive crash sensor methods. The expanding automotive market will correspondingly generate lucrative opportunities for the product.
Onboard sensors that govern auto collisions stop the vehicle in the instance of a non-responsive driver, whose shortcomings are somewhat regarded. The sensor embedded in automobiles combines the functions of many hardware and software components to function. Its reliability is called into question during certain situations, such as when a camera is trying to detect an obstacle during bad weather or due to incorrect calibration.
It is essential to successfully detect the intersection markings to keep the vehicles with the lane detection function of the road safe and better on the track. Bad road condition and missing intersection markings are the biggest barrier to the crash sensor working successfully. The system allows an individual to be saved only when it's functioning efficiently.
Moreover, shortage of raw materials and sub-components, like semi-conductor shortage, are hindering the supply of raw materials. Unstandardized vehicle crash sensor design and use across vehicles are also making it difficult for sensor installations to be completed rapidly in automotive crash safety technology.
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North America remains prominent region in the crash sensor market globally. The government is implementing strict rules and regulations for the safety of passengers. Crash sensing technology is an advanced and innovative technology that is usually seen in developed nations. Road infrastructure, IoT, AI, and technological proficiency are all available in a developed country for ADAS and autonomous driving technology vehicles.
The government in South Asian countries is introducing new rules and standards related to passenger vehicles for commuters’ safety. Rising disposable income in the nations, and the government's support for hybrid and electric vehicle adoption, end users are demanding premium vehicles with increased safety features which are expected to boom the market for crash sensor systems. South Asian countries are key manufacturing hub for manufacturing of automobiles, components and the technologies, thus expected to capture significant share in global crash sensors market.
Key market players, including Bosch, Continental AG, Denso, Delphi Automotive, and Hella KGaA Hueck & Co., are using different strategies, such as product launches, collaborations, acquisitions, partnerships, agreements, and contracts, to offer better products and remain at the top of the market.
Continuous R&D coupled with growing automobile fleet in the market is estimated to create significant opportunities for the market. The automotive crash sensor market is dominated by OEM manufacturers owing to lack of aftermarket installation incidences.
The automotive sensor market will remain demanding and attractive, specifically in terms of volume, reliability, innovation, and cost.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.90% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Product, Technology, Function type, Application type, Vehicle type, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy, France, UK, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN, ANZ, GCC Countries, Turkey, South Africa, North Africa |
| Key Companies Profiled | Bosch; Continental; Denso; Delphi Automotive; Hella KGaA Hueck & Co. |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Automotive sensor market reached over US$ 1306.6Mn
The Automotive sensor market is projected to reach US$ 2272.7 Mn by the end of 2032.
North America region is projected to lead the Automotive sensor market in the forecast period.
During the forecast period, Automotive sensor market is estimated to expand at a CAGR of 4.90% during 2022-2032.
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Automotive Crash Sensor Market
