Europe Automotive Sensors Market 2027: Demand Analysis and Projections
The Europe automotive sensors market accounted for US$ 2.13 Bn in 2018 and is expected to grow at a CAGR of 6.8% over the forecast period 2019-2027, to account for US$ 3.83 Bn in 2027.
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The automotive industry is experiencing a significant shift, driven by the increasing demand for advanced electroni... moreEurope Automotive Sensors Market 2027: Demand Analysis and Projections
The Europe automotive sensors market accounted for US$ 2.13 Bn in 2018 and is expected to grow at a CAGR of 6.8% over the forecast period 2019-2027, to account for US$ 3.83 Bn in 2027.
Get a sample PDF of the report – https://www.businessmarketinsights.com/sample/TIPRE00005045?utm_source=Blog&utm_medium=10640
The automotive industry is experiencing a significant shift, driven by the increasing demand for advanced electronics and semiconductor components to enhance vehicle performance. This trend, particularly the electrification of vehicles, is a major catalyst for growth in the automotive sensors market. As a result, automobile manufacturers are actively seeking partnerships with sensor manufacturers to meet evolving consumer expectations.
For example, in January 2018, Audi AG collaborated with ON Semiconductor to integrate their semiconductor innovations into newer models, improving safety, reliability, and performance. Similarly, Mercedes EQ Formula E Team selected ON Semiconductor to develop next-generation electric power solutions for enhanced efficiency. These ongoing partnerships between automotive and semiconductor manufacturers are a key driver for the growth of semiconductors in the automotive sector.
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Electric Vehicles Fueling Sensor Demand
The electric vehicle (EV) segment has captured significant attention from automotive giants such as Tesla, BMW, Nissan, Ford, and Volkswagen. EVs rely on various sensors to improve their reliability, safety, and performance. Automotive and semiconductor manufacturers are continuously innovating to develop advanced electronic solutions that deliver the safest, most reliable, and highest-performing vehicles to customers.
Advanced sensors and embedded computers are being integrated into various vehicle components, including dashboards, seats, heating systems, and mirrors. Sensors are also crucial for systems like braking, induction motors, and battery management. The surge in EV production directly translates to a greater need for semiconductors and other electronic components. Consequently, automotive market players in Europe need to increase partnerships with sensor manufacturers to capitalize on the growth in the EV segment. These collaborations are vital for both industries, and they are expected to significantly boost the Europe automotive sensors market in the coming years.
Germany: A Leader in the Europe Automotive Sensors Market
Germany is projected to lead the Europe automotive sensors market throughout the forecast period. As a global leader in automobile production, Germany is home to major car manufacturers like Volkswagen, BMW AG, and Audi. The country produces a substantial number of passenger and commercial vehicles annually, leading to extensive use of automotive semiconductors.
Furthermore, Germany is a pioneer in legalizing autonomous vehicles and is the largest electronics producer in the region, with automotive electronics being its largest segment. This robust automotive and electronics manufacturing ecosystem positions Germany at the forefront of the European automotive sensors market.
Europe Automotive Sensors Market Segmentation
Europe Automotive Sensors Market by Type
LED
Image Sensor
Position Sensor
Temperature Sensor
Pressure Sensor
MEMS
Others
Europe Automotive Sensors Market by Application
Chassis
Safety & Security
Body Electronics
Powertrain
ADAS
Others
Europe Automotive Sensors Market by Vehicle Type
LCV
HCV
Passenger Car
Europe Automotive Sensors Market by Country
France
Germany
Italy
Russia
UK
Rest of Europe
Europe Automotive Sensors Market Companies Mentioned
Analog Devices Inc.
Continental AG
DELPHI TECHNOLOGIES PLC
Denso Corporation
Infineon Technologies
Melexis
NXP Semiconductors NV
ON Semiconductors
Robert Bosch GmbH
Texas Instruments Incorporated
Europe Automotive Sensors Market Strategic Insights
Strategic insights for the Europe Automotive Sensors provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Europe Automotive Sensors Market Regional Insights
The geographic scope of the Europe Automotive Sensors refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
