Motor Vehicle Sensor Market, By Product Type (Physical property sensors, Process variable sensors, Chemical property sensors, and Others), By Application (Engine and drivetrain, Safety and Security, Emission control, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI4129

Pages :130

Formats :

Excel and PDF

Industry : Automotive and Transportation

Market Concentration and Competitive Landscape

Motor Vehicle Sensor Market Concentration By Players

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Monitoring driver drowsiness and fatigue

Regulatory pressure also leads to sensorization of vehicles. Various countries have made certain active and passive safety features mandatory, in order to receive a vehicle type approval. For example, the European Union had mandated that all new vehicle models sold in EU should have Automatic Emergency Braking (AEB) system by 2022. Such regulatory pushes are designed to directly address safety issues and reduce accidents. With more safety features becoming mandated, it will boost the sales volume of various sensors. Even used car buyers are increasingly demanding essential safety features, that boosts demand for sensors

While developing autonomous driving capabilities involves additional costs, manufacturers are recognising that investing in safety technologies can help boost brand image and trust among customers. This encourages continuous innovation and adoption of new kinds of vehicle sensors. Rising prioritization of vehicle and passenger safety on roads can drive the motor vehicle sensor market globally. Strict regulations and changing customer mindset prompts sensorization of automobiles to create a safer driving experience.

Key Players Insights