Asia Pacific Automotive Sensors Market Share and Forecast by 2027

The Asia Pacific automotive sensors market accounted for US$ 4.03 Bn in 2018 and is expected to grow at a CAGR of 10.1% over the forecast period 2019-2027, to account for US$ 9.52 Bn in 2027.

The automotive industry is constantly facing pressures to integrate their vehicles with advanced electronics and semiconductor components to enhance the performance of the vehicles. The rising drift of electrification of vehicles is a significant factor in boosting the sensors market in the automotive industry. Attributing to this, the automobile manufacturers are increasingly partnering with sensors manufacturers to meet the demands of their customers. For instance, in January 2018, Audi AG partnered with ON Semiconductor, to foster On Semiconductor's innovations and integrate their semiconductors on their newer models, thereby satisfying constantly changing expectations of the consumers in terms of safety, reliability, and performance. Similarly, On Semiconductor has been chosen by Mercedes EQ Formula E Team to develop next-gen electric power for enhancing efficiency and performance. The primary catalyst for the growth of semiconductors in the automotive industry is attributed to the continued partnerships between automotive manufacturers and semiconductor manufacturers.

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 continually focusing on improving technologies, negotiating prices of raw materials, and finally integrating the cars with robust technologies.

China is anticipated to lead the Asia Pacific automotive sensors market across the Asia Pacific region through the forecast period. China is an important automobile market in the Asia Pacific. Further, the country occupies the lion's share in the Asia Pacific automotive sensors market. This is attributable to increasing adoption of the safety features in vehicles and growth in infotainment applications, including navigation, among others. Further, ADAS systems have become popular in the country, and features including parking assist, adaptive cruise control, lane-departure warning, forward collision warning, and blind-spot detection are supplementing the growth of the market prominently. Among these, the parking assist feature is notably popular in the country owing to parking and space issues in the megacities of the country. The lower prices of systems have further helped in pushing the rate of adoption of advanced sensors and semiconductor products in China. The figure given below highlights the revenue share of South Korea in the Asia Pacific automotive sensors market in the forecast period:

South Korea in Asia Pacific Automotive sensors Market Revenue and Forecasts to 2027 (US$ Mn)

ASIA PACIFIC AUTOMOTIVE SENSORS - MARKET SEGMENTATION

Asia Pacific Automotive Sensors Market By Type

• LED• Image Sensor• Position Sensor• Temperature Sensor• Pressure Sensor• MEMS• Others

Asia Pacific Automotive Sensors Market By Application

• Chassis• Safety & Security• Body Electronics• Powertrain• ADAS• Others

Asia Pacific Automotive Sensors Market By Vehicle Type

• LCV• HCV• Passenger Car

Asia Pacific Automotive Sensors Market By Country

• Australia• China• India• Japan• South Korea• Rest of APAC

Companies Mentioned

• Analog Devices Inc.• Continental AG• DELPHI TECHNOLOGIES PLC• Denso Corporation• Infineon Technologies • Melexis• NXP Semiconductors NV• ON Semiconductors • Robert Bosch GmbH• Texas Instruments Incorporated

Asia Pacific Automotive Sensors Report Scope