The sensor market for automated vehicles is experiencing rapid growth and is projected to reach USD 19.1 billion by 2030, with a CAGR of 62.6%. The demand for safer, efficient, and fuel-efficient vehicles has led to an increase in the adoption of automated vehicles worldwide. As a result, the demand for sensors such as cameras, radar sensors, and lidar sensors for these vehicles is also growing.
One of the fastest-growing segments in the sensor market is chips/semiconductors, which are used in automobile sensors to detect objects and impediments. With the rising demand for electric and autonomous vehicles, the demand for processors and semiconductors is anticipated to increase as well. Chips and semiconductors play a crucial role in automotive sensors as they enable precise and accurate measurements. Companies like NXP Semiconductors, Infineon Technologies, and STMicroelectronics are manufacturing products such as microcontrollers, application processors, and sensors for the automotive semiconductor industry.
Another segment experiencing significant growth in the sensor market is operating systems. Operating systems manage various components of advanced driver-assistance systems (ADAS), including sensors, processors, and actuators. These systems are also responsible for managing AI algorithms that interpret sensor data and make decisions on controlling the vehicle. Companies like Mobileye and NVIDIA provide operating systems for autonomous vehicle OEMs.
The European market is expected to register strong growth in the sensor market for automated vehicles, driven by stringent safety regulations and the integration of advanced safety features by leading automakers. Countries like Germany, France, and the UK have already allowed the use of autonomous vehicles on specific roads. The demand for sensors in Europe is also fueled by the development of L2+ models by companies like Stellantis, Nissan, Volkswagen, BMW, Mercedes, and Tesla. Additionally, the European Union (EU) is planning to introduce regulations that will allow carmakers to sell autonomous cars in the region.
The sensor market for automated vehicles is dominated by companies like Robert Bosch GmbH, Continental AG, ZF Friedrichshafen AG, DENSO, and NXP Semiconductors, among others.
– MarketsandMarkets. (2022). Sensor Market for Automated Vehicles.
– NXP Semiconductors. (2022). NXP Semiconductors Announces Production of Second Generation:
The Sensor Market for Automated Vehicles.