North America Automotive Sensors Market Key Players and Forecast by 2027

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.

The automotive giants are constantly eyeballing on the electric vehicle segment as the section 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 which enhances the reliability, safety, and performance of the vehicles. The electrification of automobiles is ushering the automotive industry and the industries associated with it to a greater extent. The automobile manufacturers, along with several semiconductor manufacturers, are constantly innovating and developing advanced semiconductor and electronic solutions in order to deliver the safest, reliable, and performance-oriented vehicle to their customers. The automotive OEMs are integrating their vehicle's dashboards, seats, heating systems as well as mirrors with advanced sensors and embedded computers, which is facilitating the sensors industry players to design and develop robust technologies. Sensors are also integrated into areas such as braking system, induction motor, and battery system, among others. The growth of electric vehicle is foreseen to be exponential due to increasing concerns related to the environment and several stringent laws by Worldwide Harmonized Light Vehicles Test Procedure (WLTP). With the rising electric vehicle production, the requirement for a large number of semiconductors and other electronics.

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:

Canada in North America Automotive sensors Market Revenue and Forecasts to 2027 (US$ Mn)

NORTH AMERICA AUTOMOTIVE SENSORS - MARKET SEGMENTATION

North America Automotive Sensors Market By Type

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

North America Automotive Sensors Market By Application

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

North America Automotive Sensors Market By Vehicle Type

• LCV• HCV• Passenger Car

North America Automotive Sensors Market By Country

• U.S.• Canada• Mexico

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

North America Automotive Sensors Report Scope