Published by Coherent Market Insights
Posted on September 16, 2021
United States/WA: The global motor vehicle sensor market was valued at US$ 28,659.0 Mn in 2019 and is forecast to reach a value of US$ 75,447.5 Mn by 2027 at a CAGR of 11.2% between 2020 and 2027.
Report Pages:[130 Pages]
The Competitive Area of the Motor Vehicle Sensor Market is Defined by Key Players Like:- Hitachi Ltd, Robert Bosch GmbH, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.
Motor Vehicle Sensors or automotive sensors are an integral part of a vehicle designed to detect, analyze, transmit, record, and display vehicle performance. Motor vehicle sensors are used to control and process the pressure of oil, emission level, temperature, coolant level, and more. Moreover, sensors are used to minimize fuel consumption and reduce the onboard weight of a vehicle. Many types of sensors are used in the automotive industry such as temperature sensors, coolant sensors, pressure sensors, speed sensors, voltage sensors, magnetic sensors, and oxygen sensors. The growing demand for connected cars and the increasing popularity of vehicle automation across the world is expected to drive the market growth. For instance, according to the Digital Auto Report 2017 by Strategy&, there will be more than 470 million connected cars in the United States, Europe, and China by 2025.
Improved communication capability and miniaturization are the major trends driving the motor vehicle sensor market, which enable their integration into vehicles without interfering with the basic functions of the vehicle. The increasing demand for safety and security in automobiles is the main factor driving the growth of the market. Compared to the developed economies, automotive production in developing economies is growing rapidly, owing to stable economic conditions and increasing urbanization. With increasing safety concerns, especially in Asian countries, car manufacturers are incorporating more sensors in low-cost vehicles, which is expected to propel the demand for motor vehicle sensors in the coming future.
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The Indian government has made it mandatory to install some automotive sensors, leading to increased demand for motor vehicle sensors in the Indian automotive market. For instance, the Union Road Transport Ministry has mandated that all cars manufactured after July 2019 should be fitted with some automotive sensors. Moreover, the shift towards autonomous vehicles could significantly boost the market as more intelligent data processing devices are required to make autonomous decisions. For instance, autonomous vehicles by Google use quad-core PCs that make 20 driving decisions every second.
Major players in the market, such as Bosch, are focusing on research and development to ensure product differentiation. Bosch’s research and development efforts have focused on the development of efficient methods to ensure reliability through continuous plausibility checks on the data supplied. For instance, Bosch is developing long-range LiDAR (Light Detection and Ranging) that can be used for autonomous driving. Moreover, rising awareness about driving safety and various government initiatives to lessen road accidents are driving the motor vehicle sensor market growth. Motor vehicle sensors help reduce emissions, enhance the safety of passengers, and improve the overall performance of the vehicle.
Detailed Segmentation:
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The post [PDF] Motor Vehicle Sensor Market: What are the Challenges and Opportunities? appeared first on Gatorledger.
United States/WA: The global motor vehicle sensor market was valued at US$ 28,659.0 Mn in 2019 and is forecast to reach a value of US$ 75,447.5 Mn by 2027 at a CAGR of 11.2% between 2020 and 2027.
Report Pages:[130 Pages]
The Competitive Area of the Motor Vehicle Sensor Market is Defined by Key Players Like:- Hitachi Ltd, Robert Bosch GmbH, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.
Motor Vehicle Sensors or automotive sensors are an integral part of a vehicle designed to detect, analyze, transmit, record, and display vehicle performance. Motor vehicle sensors are used to control and process the pressure of oil, emission level, temperature, coolant level, and more. Moreover, sensors are used to minimize fuel consumption and reduce the onboard weight of a vehicle. Many types of sensors are used in the automotive industry such as temperature sensors, coolant sensors, pressure sensors, speed sensors, voltage sensors, magnetic sensors, and oxygen sensors. The growing demand for connected cars and the increasing popularity of vehicle automation across the world is expected to drive the market growth. For instance, according to the Digital Auto Report 2017 by Strategy&, there will be more than 470 million connected cars in the United States, Europe, and China by 2025.
Improved communication capability and miniaturization are the major trends driving the motor vehicle sensor market, which enable their integration into vehicles without interfering with the basic functions of the vehicle. The increasing demand for safety and security in automobiles is the main factor driving the growth of the market. Compared to the developed economies, automotive production in developing economies is growing rapidly, owing to stable economic conditions and increasing urbanization. With increasing safety concerns, especially in Asian countries, car manufacturers are incorporating more sensors in low-cost vehicles, which is expected to propel the demand for motor vehicle sensors in the coming future.
Request a sample copy of the report to understand the structure of the complete report:
https://www.coherentmarketinsights.com/insight/request-sample/4129
The Indian government has made it mandatory to install some automotive sensors, leading to increased demand for motor vehicle sensors in the Indian automotive market. For instance, the Union Road Transport Ministry has mandated that all cars manufactured after July 2019 should be fitted with some automotive sensors. Moreover, the shift towards autonomous vehicles could significantly boost the market as more intelligent data processing devices are required to make autonomous decisions. For instance, autonomous vehicles by Google use quad-core PCs that make 20 driving decisions every second.
Major players in the market, such as Bosch, are focusing on research and development to ensure product differentiation. Bosch’s research and development efforts have focused on the development of efficient methods to ensure reliability through continuous plausibility checks on the data supplied. For instance, Bosch is developing long-range LiDAR (Light Detection and Ranging) that can be used for autonomous driving. Moreover, rising awareness about driving safety and various government initiatives to lessen road accidents are driving the motor vehicle sensor market growth. Motor vehicle sensors help reduce emissions, enhance the safety of passengers, and improve the overall performance of the vehicle.
Detailed Segmentation:
Go Through Our Trusted Clients List: https://www.coherentmarketinsights.com/trusted-by
People Also Search For Following Reports:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post [PDF] Motor Vehicle Sensor Market: What are the Challenges and Opportunities? appeared first on Gatorledger.
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