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The autonomous vehicle sensors market size is forecast to increase by USD 6.28 billion at a CAGR of 57.2% between 2023 and 2028. The market is witnessing significant growth due to the maturing concept of autonomous vehicles and the increasing popularity of CMOS image sensors in camera-based Advanced Driver-Assistance Systems (ADAS). These sensors enable vehicles to detect and respond to their surroundings in real-time, enhancing safety and convenience. Additionally, system reliability is a crucial factor driving market growth as manufacturers strive to ensure the accuracy and consistency of sensor data. However, uncertainty in user acceptance of autonomous features remains a challenge, as some consumers express concerns over safety and privacy. Despite this, the market is expected to continue expanding as technological advancements address these concerns and autonomous vehicles become increasingly mainstream.
Autonomous vehicles are revolutionizing the transportation industry with their advanced capabilities to monitor and control various parameters for ensuring safe and efficient travel. The sensors market for autonomous vehicles is experiencing significant growth due to the increasing adoption of ADAS (Advanced Driver-Assistance Systems) in Level 3 autonomy. These sensors play a crucial role in monitoring temperature, pressure levels, and pollution levels to maintain optimal vehicle performance and ensure passenger comfort. Lidar sensors are a key component of autonomous vehicles, enabling them to detect and map their environment in real-time. Road asset management is another application of these sensors, helping to improve safety measures by providing real-time data on road conditions. Data security and artificial intelligence are essential considerations for autonomous vehicle sensors, ensuring the protection of sensitive information and enabling self-diagnostics and predictive maintenance. Autonomous emergency braking (AEB), blind spot detection, adaptive cruise control, and lane keeping assist are some of the critical safety features that rely on vehicle sensors. Autonomous parking and self-diagnostics are other applications that enhance the convenience and reliability of autonomous vehicles. The market is expected to grow significantly in the coming years due to the increasing demand for safer, more efficient, and more convenient transportation solutions.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The image sensors segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the integration of advanced sensors for monitoring and controlling various parameters. These sensors play a crucial role in ensuring the safe operation of autonomous vehicles by detecting temperature, pressure levels, and pollution levels.
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The image sensors segment was the largest segment and was valued at USD 38.90 million in 2018. LiDAR sensors enable obstacle detection and road asset management, while ADAS systems, including autonomous emergency braking (AEB), blind spot detection, adaptive cruise control (ACC), and lane keeping assist, utilize high-resolution cameras and radar for collision avoidance. Ultrasonic sensors are essential for self-diagnostics and autonomous parking. Artificial Intelligence (AI) and System-on-Chip (SoC) technologies are integral to the functioning of these sensors, enabling real-time data processing and analysis. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Autonomous vehicles, also known as self-driving or driverless cars, are revolutionizing the transportation industry with their advanced monitoring and controlling capabilities. These vehicles rely heavily on sensors to ensure safe and efficient operation. Temperature and pressure levels are monitored in the engine and other critical components, while pollution levels are constantly assessed to minimize emissions. Advanced Driver Assistance Systems (ADAS) integrate LiDAR, Radar, Ultrasonic Sensors, High-Resolution Cameras, and other sensors for obstacle detection and collision avoidance. Hence, such factors are driving the market in North America during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Maturing autonomous vehicle concept is notably driving market growth. The market is witnessing significant growth due to the advancements in autonomous driving technology. Electric vehicles (EVs) and battery management systems (BMS) are also integrating these sensors for temperature management, pressure levels, and emission levels. Self-driving automobiles are expected to become a reality in the coming years, with a notable increase in the development and testing of advanced driver-assistance systems (ADAS) and telematics applications.
Moreover, this growth is driven by the potential for improved greenhouse gas emissions and fuel economy, as well as the integration of road asset management and transportation infrastructure for traffic speed assessment. The market is poised for substantial growth, with a focus on agent levels and the integration of LiDAR sensors for enhanced safety and functionality. Thus, such factors are driving the growth of the market during the forecast period.
Growing popularity of CMOS image sensors in camera based ADAS is the key trend in the market. Autonomous vehicle sensors play a crucial role in enabling self-driving automobiles to perceive their environment and ensure safe operation. The shift from expensive CCD sensors to CMOS image sensors in camera modules is a significant development in this field. CMOS sensors, which include noise-correction technologies, charge-to-voltage conversion technologies, digitized circuits, and amplifiers, generate clear images even in adverse conditions.
Moreover, the growing adoption of electric vehicles (EVs) and the integration of battery management systems (BMS) further fuel the demand for these sensors. Autonomous vehicle technology relies heavily on high-level and feature-level fusion of data from various sensors, including temperature management, pressure levels, and emission levels, to ensure optimal automotive performance. Thus, such trends will shape the growth of the market during the forecast period.
System reliability and uncertainty in user acceptance of autonomous features is the major challenge that affects the growth of the market. Autonomous vehicle sensors play a crucial role in ensuring the reliability and safety of self-driving automobiles. With the increasing adoption of autonomous vehicle technology, there is a growing demand for advanced sensors such as LiDAR, radar, and camera systems.
These sensors enable vehicles to perceive their environment in real-time, enabling them to make informed decisions based on mapping data, temperature management, pressure levels, and emission levels. Moreover, vehicle connectivity through V2V (vehicle-to-vehicle) and V2X (vehicle-to-everything) communication enhances the functionality of these sensors, providing real-time traffic updates and enabling road asset management.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aptiv Plc: The company offers autonomous vehicle sensors such as next generation ADAS platform.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Autonomous vehicles are revolutionizing the transportation industry with their advanced sensors and monitoring systems that enable self-driving capabilities. These sensors play a crucial role in controlling and managing various vehicle functions, including temperature, pressure levels, and pollution levels. Advanced Driver-Assistance Systems (ADAS) such as Lidar, Radar, ultrasonic sensors, and high-resolution cameras are integral to obstacle detection, collision avoidance, and lane keeping assist. Artificial Intelligence (AI) and system-on-chip (SOC) technologies are integral to processing the vast amounts of data generated by these sensors. Temperature, pressure levels, and pollution levels are monitored to ensure vehicle performance and safety. Data security is a critical concern, with AI and encryption techniques used to protect sensitive information. Autonomous vehicles come in various types, including passenger cars, electric vehicles, and driverless cars. Safety features such as autonomous emergency braking (AEB), blind spot detection, adaptive cruise control, and lane keeping assist are essential for ensuring passenger safety. Self-diagnostics and autonomous valet parking are also becoming increasingly common. Vehicle sensors play a vital role in technology integration, enabling the seamless transition from manual to autonomous driving. OEMs are investing heavily in these technologies to stay competitive in the rapidly evolving autonomous vehicle market.
Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 57.2% |
Market growth 2024-2028 |
USD 6.28 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
49.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 45% |
Key countries |
US, China, Germany, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aptiv Plc, Asahi Kasei Corp., Brigade Electronics Group Plc, Continental AG, DENSO Corp., Gentex Corp., HELLA GmbH and Co. KGaA, Ibeo Automotive Systems GmbH, LeddarTech Inc., Lumentum Holdings Inc., Mitsubishi Electric Corp., Nidec Corp., NXP Semiconductors NV, ON Semiconductor Corp., PIXELPLUS Co. Ltd., Robert Bosch GmbH, Siemens AG, STMicroelectronics International N.V., and Valeo SA |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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