Automotive Sensor Market to Reach $37.65 Billion, Globally, by 2027 at 10.2% CAGR: Allied Market Research

Increase in use of pressure sensors in the automotive industry, surge in demand for automotive sensors in hybrid and electric cars, and rise in use of custom designed electronics devices fuel the growth of the global automotive sensor market.

PORTLAND, Ore., Oct. 28, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Global Automotive Sensor Market by Type (Temperature Sensors, Pressure Sensors, Motion Sensors, Speed Sensors, and Gas Sensors) and Application (Powertrain, Chassis, Body Electronics, Safety & Security, and Telematics): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global automotive sensor industry was estimated at $16.40 billion in 2019, and is anticipated to hit $37.65 billion by 2027, registering a CAGR of 10.2% from 2020 to 2027.

Drivers, restraints, and opportunities-

Increase in use of pressure sensors in the automotive industry, surge in demand for automotive sensors in hybrid and electric cars, and rise in use of custom designed electronics devices fuel the growth of the global automotive sensor market. On the other hand, high development cost of automotive sensors impedes the growth to some extent. Nevertheless, technological advancement in the automobile industry and growing automotive sector are expected to create lucrative opportunities in the near future.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/725 

Covid-19 scenario-

• During the first phase of the lockdown, a number of regulations were imposed on the transportation sector and accordingly, there was a significant decline in the demand for automotive sensors from the automobile vertical.
• Also, huge disruptions in the supply chain affected the market negatively.
• However, with the government bodies across the world coming up with several relaxations, the global market is projected to go back to its stance soon.

The temperature sensor segment to maintain the lion's share-

Based on type, the temperature sensor segment accounted for around one-fourth of the global automotive sensor market revenue in 2019 and is anticipated to retain its dominance till 2027, owing to rise in demand for self-propelled temperature sensor in the automotive industry. Simultaneously, the gas sensor segment would grow at the fastest CAGR of 14.7% from 2020 to 2027. There has been a significant rise in the use of gas sensors in order to detect different types of harmful gases in the atmosphere. This factor has fueled the segment growth.

Industry Analysis Post COVID: https://www.alliedmarketresearch.com/request-for-customization/725?reqfor=covid 

The powertrain segment to dominate by 2027-

Based on application, the powertrain segment contributed to around one-fourth of the global automotive sensor market share in 2019 and is expected to rule the roost by the end of 2027. This is attributed to its better fuel economy. The body electronics segment, on the other hand, would portray the fastest CAGR of 12.7% during the study period. Increase in demand for high-end technologies such as collision avoidance, driver assistance, and premium audio systems drives the segment growth.

Asia-Pacific, followed by North America, garnered the major share in 2019-

Based on geography, Asia-Pacific, followed by North America, garnered the major share in 2019, holding nearly half of the global automotive sensor market. The same region would also manifest the fastest CAGR of 11.3% throughout the forecast period. Rapid growth of industrialization, low operating cost, and increase in population are some of the key factors responsible for the market growth in the region.

Enquire For More Details: https://www.alliedmarketresearch.com/purchase-enquiry/725 

Key players in the industry-

• DENSO Corporation
• Infineon Technologies AG
• AUTOLIV INC
• Continental AG
• STMicroelectronics N.V
• Valeo
• Sensata Technologies
• Robert Bosch
• Delphi Automotive Company
• NXP Semiconductor

Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports:

Automotive Electronics Market by Vehicle Type (Passenger Car, LCV and HCV), Component (Sensors, Actuators, Processors, Microcontrollers, and Other), Application (ADAS, Infotainment, Body Electronics, Safety System, Power Train and Others), and Distribution Channel (OEM and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026

Automotive LiDAR Sensors Market by Technology (Solid State and Mechanical), by Application (Autonomous Cars and Semi-autonomous Cars) - Global Opportunity Analysis and Industry Forecast, 2020-2027

Automotive Catalytic Converter Market by Type (Two-Way Oxidation Catalytic Converter, Three-Way Oxidation-Reduction Catalytic Converter, and Diesel Oxidation Catalyst), Catalyst (Platinum, Palladium, and Rhodium) - Global Opportunity Analysis and Industry Forecast, 2020-2027

Pressure Sensor Market by Type (Absolute Pressure Sensor, Gauge Pressure Sensor, and Differential Pressure Sensor), Technology (Piezoresistive, Electromagnetic, Capacitive, Resonant Solid State, Optical, and Others), and Application (Automotive, Oil & Gas, Consumer Electronics, Medical, Industrial and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com 
Follow Us on LinkedIn and Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg