Automotive Sensors Market Size, Share, Trends, Growth
The "Automotive Sensors Market Size" 2021 Research report presents an in-depth analysis of the Automotive Sensors Market size, growth, share, segments, manufacturers, and forecast, competition landscape and growth opportunity. This report also focuses on key trends, market drivers, challenges, standardization, deployment models, future road-map, revenue and 2028 forecast. Moreover, this research report categorizes the global Automotive Sensors Market by companies, region, type and end-user industry.
Market growth refers to the increase in size of a market over time, usually measured in terms of the value of goods and services sold. Market growth can be driven by a number of factors, including population growth, economic growth, rising consumer spending, and technological innovations. Understanding market growth trends is important for businesses as it can help inform strategic decisions about product development, marketing, and expansion.
The market is projected to grow from USD 10.10 billion in 2021 to USD 15.6 billion by 2028 at a CAGR of 6.38% during the 2021-2028 period.
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Market Growth Drivers:
Modern vehicle restraint systems utilize side airbag pressure sensors to satisfy passenger car safety requirements. The pressure sensor is integrated into the vehicle's side doors and sends digital crash signals to the central airbag unit. Furthermore, the air pressure sensor improves engine efficiency by effectively controlling spark advances in gasoline and diesel engines. Hence, the market is expected to develop due to the rising use of pressure sensors in the engine and the vehicle's safety system. The autonomous abilities of commercially available vehicles are anticipated to develop rapidly over the next several years due to increasingly stringent regulations and safety tests (in particular, emergency brake assist) and growing awareness regarding vehicle safety. For instance, in developed countries, functions like cruise control and lane-keep assist are mandatory on all vehicles, and regulations for blind-spot monitoring, particularly in Europe.
Points Covered in The Report:
Who are the Major Automotive Sensors Market Vendors?