According to the research report titled ‘Automotive Sensors Market Size By Product (Current Sensor [Hall-effect {Coreless Hall, Cored Hall}, Shunt, Fluxgate, Magneto-resistive], Pressure Sensor, Temperature Sensor, Speed Sensor, Position Sensor, Camshaft Sensor, Torque Sensor, Angle Sensor, Level Sensor, Gas Sensor, Humidity Sensor, LiDAR Sensor, Infrared Sensor, Ultrasonic Sensor, Radar Sensor, Image Sensor), By Vehicle Type (Passenger Cars, LCV, HCV), By Engine Type (Gasoline, Diesel, Hybrid, Battery Electric Vehicle, Fuel Cell), By Application (Powertrain, Body Electronics [Steering System, Chassis System, Others], ADAS & Safety System, Health, Wellness and Wellbeing {HWW}), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2030’, available with MarketStudyReport, global automotive sensors market is anticipated to showcase lucrative growth trends between 2021 and 2027.
 

Increasing demand for vehicle safety features across the world is majorly driving global automotive sensors market growth. Introduction of self-driving has stimulated technological advancements to enhance the efficiency and interactivity of vehicles, thereby favoring the industry scope.
 

Request sample copy of this report: https://www.marketstudyreport.com/request-a-sample/4357550/
 

For the record, automotive sensors are now used to perform all of a vehicle's basic control functions, including temperature sensors, anti-theft alarms, speed sensors, lights, dashboards, and reverse parking, to name a few.
 

Moreover, leading companies are adopting profitable tactics to capitalize on developing market trends, adding traction to the overall industry size. In August 2021 for instance, Analog Devices Inc. acquired Maxim Integrated Products Inc. to expand its production capacity, technologies, staff, and expertise, as well as to strengthen its market position as a global semiconductor manufacturer.
 

Based on product type, the current sensor segment accounted for 3% market share in 2020 and is expected to garner significant returns over the analysis period, owing to increasing technological advancements in electronic systems of vehicles like battery management systems, driving technologies, including others.
 

Speaking of engine type, the hybrid segment held a 10% market share in 2020 and is slated to showcase lucrative growth over the estimated timeline, owing to rising demand for eco-friendly and energy efficient vehicles in countries like India, Japan, and China.
 

Considering the application ambit, the body electronics application segment held 16.5% market share in 2020 and is likely to accrue notable gains over the assessment period, on account of increasing safety standards introduced in many countries to reduce road accident fatalities.
 

On the geographical front, the industry is categorized into North America, Asia Pacific, Latin America, Middle East & Africa, and Europe. Experts cite that Latin America automotive sensors market accounted for 3% market share in 2020 and is slated to grow significantly through 2027, primarily due to favorable government initiatives to promote the adoption of EVs in public transport and commercial application.
 

Major players profiled in the industry space are HiRain Technologies Co. Ltd., Hella KGaA Hueck & Co., Elmos Semiconductor SE, Dongguan ZhengYang Electronic Mechanical Ltd., DENSO Corporation, CTS Corp., Continental AG, Bourns Inc., Allegro Microsystems LLC, AB Elektronik GmbH, ZF Friedrichshafen AG, Valeo, Texas Instruments Inc., TE Connectivity, TDK Corporation, Sensata Technologies Inc., SEMITEC Corporation, Robert Bosch GmbH, Qufu Temb Auto Parts Manufacturing Co. Ltd., PCB Piezotronics Inc., NXP Semiconductors N.V., NGK Spark Plug Co. Ltd., Nanjing Wotian Technology Co. Ltd., Murata Manufacturing Co. Ltd., Mitsubishi Electric Corporation, Melexis Technologies NV, Littelfuse Inc., Kistler Instruments Limited, Infineon Technologies AG, Hyundai Kefico Corporation, and Hitachi Astemo Ltd.