Allied Researching The Market printed a study, entitled, “Global Automotive Sensor Market by Type (Temperature Sensors, Pressure Sensors, Motion Sensors, Speed Sensors, and Gas Sensors) and Application (Powertrain, Chassis, Body Electronics, Safety & Security, and Telematics): Global Chance Analysis and Industry Forecast, 2020-2027.” Based on the report, the worldwide automotive sensor industry was believed at $16.40 billion in 2019, and it is expected to hit $37.65 billion by 2027, registering a CAGR of 10.2% from 2020 to 2027.

Boost in use of automotive sensors in electric and compounds and growing interest in custom-designed electronics devices drive the development from the global automotive sensor market. However, expensive connected with the introduction of automotive sensors restrains the marketplace growth. In addition, growing technologies within the automotive sector is anticipated to produce new growth possibilities for market players throughout the forecast period.

Covid-19 scenario-

•          During the very first phase from the lockdown, numerous rules were enforced around the transportation sector and accordingly, there is a substantial loss of the interest in automotive sensors in the automobile vertical.

•          Also, huge disruptions within the logistics affected the marketplace negatively.

•          However, using the government physiques around the globe picking out several relaxations, the worldwide marketplace is forecasted to return to its stance soon.

The report provides a detailed segmentation from the global automotive sensor market according to type, application, and region.

The temperature sensor segment to keep the lion’s share-

According to type, the temperature sensor segment taken into account around one-4th from the global automotive sensor market revenue in 2019 and it is expected to retain its dominance till 2027, because of increase in interest in self-propelled temperature sensor within the automotive industry.

The powertrain segment to dominate by 2027-

According to application, the powertrain segment led to around one-4th from the global automotive sensor share of the market in 2019 and it is likely to rule the roost through the finish of 2027. This really is related to its better gas mileage.

According to region, Asia-Off-shore contributed the greatest share, comprising up to 50 % from the total share of the market in 2019, and can maintain its dominance through the forecast period. Additionally, it’s likely to grow in the greatest CAGR of 11.3% from 2020 to 2027. The study also discusses regions including The United States, Europe, and LAMEA.

Leading market players examined within the research include DENSO Corporation, Robert Bosch, Continental AG, Autoliv Corporation, Delphi Automotive Company, Valeo, NXP Semiconductor, Sensata Technologies, Infineon Technologies AG , and STMicroelectronics N.V.