The North America automotive sensors market accounted for US$ 1.63 Bn in 2018 and is expected to grow at a CAGR of 5.7% over the forecast period 2019-2027, to account for US$ 2.66 Bn in 2027.
📚𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐋𝐢𝐧𝐤 – https://www.businessmarketinsights.com/reports/north-america-automotive-sensors-market
The automotive giants are constantly focusing on the electric vehicle (EV) segment as it has attracted several customers. Major players catalyzing the market for electric vehicles worldwide include Tesla, BMW, Nissan, Ford, and Volkswagen, among others. Electric vehicles consist of several types of sensors that enhance the reliability, safety, and performance of the vehicles. The electrification of automobiles is driving the automotive industry and associated industries to a greater extent. Automobile manufacturers, along with semiconductor manufacturers, are continuously innovating and developing advanced semiconductor and electronic solutions to deliver the safest, most reliable, and high-performance vehicles to their customers.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞 – https://www.businessmarketinsights.com/sample/TIPRE00005047
Automotive OEMs are integrating their vehicle dashboards, seats, heating systems, and mirrors with advanced sensors and embedded computers, facilitating sensor industry players to design and develop robust technologies. Sensors are also integrated into areas such as braking systems, induction motors, and battery management systems, among others. The growth of the electric vehicle market is expected to be exponential due to increasing concerns related to the environment and stringent laws by regulatory bodies such as the Worldwide Harmonized Light Vehicles Test Procedure (WLTP).
In addition to electric vehicles, the rise of autonomous and connected vehicle technologies is significantly influencing the automotive sensors market. Autonomous vehicles require an array of sensors, including LiDAR, radar, ultrasonic sensors, and cameras, to enable advanced driver assistance systems (ADAS) and self-driving capabilities. The increasing adoption of these technologies by automotive OEMs is expected to propel the demand for sensors in the coming years.
Furthermore, advancements in artificial intelligence (AI) and machine learning (ML) are driving the development of smart sensors capable of real-time data processing and predictive maintenance. These innovations are particularly crucial in fleet management and commercial vehicles, where predictive analytics can help reduce downtime and improve operational efficiency.
The integration of the Internet of Things (IoT) in vehicles is another critical trend shaping the automotive sensors market. IoT-enabled sensors can collect and transmit real-time data, improving vehicle diagnostics, driver safety, and fuel efficiency. The deployment of 5G technology is expected to further enhance vehicle-to-everything (V2X) communication, thereby expanding the scope of automotive sensors.
With the growing emphasis on sustainability, the demand for energy-efficient sensors and semiconductor solutions is rising. The industry is witnessing increased investments in research and development to enhance sensor accuracy, miniaturization, and durability. Additionally, strategic partnerships between automotive manufacturers and semiconductor companies are fostering innovations in sensor technology, further boosting market growth.
Overall, the North America automotive sensors market is poised for substantial growth, driven by the rapid adoption of electric and autonomous vehicles, regulatory mandates, technological advancements, and the increasing role of AI and IoT in the automotive industry.
The automakers are observing substantial demand for smart devices in their vehicles. This has led the automobile manufacturers to continuously focus on innovating, designing, and developing connected cars which have already attracted a fair percentage of customers in major automotive manufacturing countries. Pertaining to the consumers’ demand and attraction toward connected cars, semiconductors are expected to become an integral part of the innovations in the automotive industry in the coming years. The growth trajectory of connected cars is largely anticipated to depend upon several parameters such as technological improvements, consumer preference to adopt connected cars, pricing as well as the ability of the suppliers and OEMs to address the critical concerns related to the safety of the vehicles. Attributing to these parameters, both the industry players i.e., automotive and sensors industry are constantly focusing on improving technologies, negotiating prices of raw materials, and finally integrating the cars with robust technologies. This factor is expected to trigger the growth of the North America automotive sensors market in the coming years. The substantial thrust in connected cars segment is foreseen to accentuate further the demand for the advanced sensor for optimizing the vehicle’s safety and performance, which has is expected to create profitable market space for North America automotive sensors market in the future.
The US is anticipated to lead the North America automotive sensors market across the North American region through the forecast period. The United States is home to three of the leading automotive groups in the world – General Motors, Fiat-Chrysler Automotive, and Ford Motor Company, among others. Also, it is home to some of the leading semiconductor manufacturers including Intel, Texas Instruments, ON Semiconductors, and others. Many of the automakers have engine & transmission plants and conduct design, R&D, and testing activities in the US. According to the Auto Alliance, almost a fifth of the R&D investments done globally is spent in the US. High demand for infotainment systems and growing need for safety, better communication, and comfort in the vehicles are proliferating the demand of semiconductors in the automotive industries. The figure given below highlights the revenue share of Canada in the North American North America automotive sensors market in the forecast period:
North America Automotive Sensors Strategic Insights
Strategic insights for the North America Automotive Sensors provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
North America Automotive Sensors Report Scope
| Report Attribute | Details |
| Market Size in 2018 | US$ 1.63 Billion |
| Market Size by 2027 | US$ 2.66 Billion |
| Global CAGR (2019 – 2027) | 5.7% |
| Historical Data | 2016-2017 |
| Forecast Period | 2019-2027 |
| Segments Covered | By Type: LED, Image Sensors, Position Sensors, Temperature Sensors, Pressure Sensors, MEMS |
| By Application: Chassis, Safety & Security, Body Electronics, Powertrain, ADAS |
| By Vehicle Type: LCV, HCV, Passenger Car |
| Regions and Countries Covered | North America (US, Canada, Mexico) |
| Market Leaders & Key Companies | ANALOG Devices Inc., Continental AG, DELPHI TECHNOLOGIES PLC, Denso Corporation, Infineon Technologies, Melexis, NXP Semiconductors NV, ON Semiconductors, Robert Bosch GmbH, Texas Instruments Incorporated |
North America Automotive Sensors Regional Insights
The geographic scope of the North America Automotive Sensors refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
About Us: Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Défense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
