automotive sensors market
27 Mar.,2025
- The automotive sensors market has demonstrated robust growth at a CAGR of 10.1%.
- The automotive sensors market accounted for $21.0 billion in 2022.
- The Asia-Pacific (APAC) region stands out prominently, commanding the largest market share at 46.80%, reflecting its robust presence and growth potential.
- Robert Bosch GmbH leads the pack with a significant market share of 16%, followed closely by DENSO Corporation, holding a substantial share of 14%.
- With the increasing amount of time spent at home, there’s an escalating demand for smart devices, and the IoT sector is on an upward trajectory, with expectations of IoT device sensors reaching $43 billion by 2025.
- In 2023, the world witnessed a 16% rise in the quantity of interconnected IoT (Internet of Things) devices, reaching a total of 16.7 billion devices.
- The McKinsey Institute anticipates robust annual growth of around 30% in Level 2 advanced driver assistance systems (ADAS) until 2025, primarily due to regulatory mandates mandating the inclusion of these sensors in new vehicles.
- The anticipated evolution of proximity sensors in vehicles is substantial, with an increase from four types in a vehicle to nine by the year 2040.