Global Automotive Sensor Market to Reach $51.6 Billion by 2029

"BCC Research Report Unveils Key Trends and Innovations Driving the Automotive Sensor Market’s Growth: In-Depth Analysis of Present and Future Developments Influencing Adoption and Rapid Innovation in Sensor Technologies for Vehicle Safety, Emission Control, and Comfort Applications"

Boston, May 28, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, “Global Markets for Automotive Sensor Technologies” is expected to grow from $37.8 billion in 2024 to $51.6 billion by the end of 2029 at a compound annual growth rate (CAGR) of 6.4% from 2024 through 2029.

The report analyzes the global market for automotive sensor technologies, focusing on leading companies' products and initiatives. It covers various sensor types, applications, and deployment trends in different vehicle types, excluding two-wheelers and agricultural and industrial vehicles. Revenue projections are in constant U.S. dollars, not adjusted for inflation.

Rapid innovation is anticipated in automotive sensors due to the growing consumer interest in electric vehicles (EVs) and the government's proactive sustainability and emission control regulations. This report provides a comprehensive analysis of the latest technology trends, key innovation areas, strategies of major companies, and the global regulatory landscape.

The factors driving the market include:

Growing Consumer Awareness of Vehicle Safety: As consumers become more aware of the importance of safety features, demand rises for advanced sensors to prevent accidents and enhance overall vehicle safety.

Increasing Demand for Connected and Smart Vehicles: The trend toward smart vehicles offering enhanced connectivity and autonomous driving capabilities is pushing the need for sophisticated sensor technologies.

Surge in the Use of EVs: Electric vehicles (EVs) are becoming more popular, and they rely on sensors for battery management, energy efficiency, and safety systems.

Innovations in Vehicle Connectivity and V2X Communications: Vehicle-to-everything (V2X) communication technologies are evolving. They allow vehicles to communicate with each other and with infrastructure, which requires advanced sensors.

Integration of 5G Technology in Sensors: The adoption of 5G technology enables faster and more reliable communication between sensors and vehicle systems, enhancing the performance and capabilities of automotive sensors.

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Report Synopsis

Interesting facts:

• In 2023, global sales of automobiles increased nearly 10%, surpassing 72 million units. This growth was driven by the easing of supply chain challenges and the normalization of component availability between 2022 and 2023.

• Starting in 2024, Europe’s general safety regulation will require all new cars to be equipped with autonomous emergency braking (AEB) and lane-keeping systems.

• Sales of EVs were nearly 14 million in 2023. The share of EVs in total sales has risen dramatically from around 4% in 2020 to 18% in 2023.

Emerging startups:

• Cepton Technologies: Founded in 2016 and headquartered in San Jose, Calif., the company focuses on high-performance LiDAR solutions for automotive, smart city, and industrial applications. Cepton’s LiDAR systems are known for their reliability, energy efficiency, and cost-effectiveness, making them suitable for mass-market applications.

• Grayscale AI: Grayscale AI develops sensor fusion systems that combine visual and motion data for real-time localization and mapping, crucial for autonomous driving. The company has received funding from NATO’s DIANA Accelerator and is exploring opportunities to expand the use of its innovative solutions in autonomous vehicles.

• Bynav Technology: This company has GNSS/INS positioning systems and related algorithms expertise. The company designs highly accurate navigation solutions for automotive applications, including ADAS and autonomous driving. Bynav’s advanced GNSS signal processing and real-time kinematic (RTK) algorithms ensure precise positioning under challenging conditions.

The report addresses the following questions:

1. What is the market's projected size and growth rate?

• The global market for automotive sensor technologies was valued at $37.0 billion in 2023 and will reach $51.6 billion by the end of2029, with a CAGR of 6.4%.

2. What are the factors driving the growth of the market?

• These include growing vehicle safety regulations and consumer awareness, increasing demand for connected and smart vehicles, and the rapid surge in the adoption of EVs.

3. What market segments are covered in the report?

• The report segments the market based on sensor type, vehicle type, propulsion technology, application, and region.

4. Which sensor type will be dominant over the forecast period?

• Chemical and gas sensors will be the dominant sensor type through 2029.

5. Which region has the largest market share?

• Asia-Pacific holds the largest share of the global market.

Market leaders include:

• APTIV
• ALLEGRO MICROSYSTEMS INC.
• AMPHENOL CORP.
• ANALOG DEVICES INC.
• Continental AG
• DENSO CORP.
• Infineon AG
• MELEXIS
• NXP SEMICONDUCTORS
• PANASONIC CORP.
• ROBERT BOSCH GMBH
• SEMICONDUCTOR COMPONENTS INDUSTRIES LLC.
• SENSATA TECHNOLOGIES INC.
• TE CONNECTIVITY
• TEXAS INSTRUMENTS INC.

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