Automotive Sensors Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)

Automotive Sensors Category Overview

The automotive sensors category is expected to grow at a CAGR of 9.4% from 2023 to 2030. This category is driven by the increasing demand for advanced safety features in vehicles due to the rising number of road accidents, the growing trend of vehicle electrification such as electric vehicles, and the increasing demand for sensors that can monitor battery performance and other critical parameters. Additionally, the growth is aided by the increased demand for connected cars, which are designed to collect data on the vehicle's performance and location. It can be used to provide real-time information to the driver and to improve the overall driving performance.

This sector is highly relevant to clients in procurement, as sensors are a critical component of modern vehicles. It involves conducting thorough research and due diligence to identify the most suitable suppliers and negotiating favourable pricing and terms.

This category makes use of cutting-edge technologies like micro-electromechanical systems (MEMS), radar, and Lidar. To detect and measure different characteristics like pressure and acceleration, Robert Bosch uses MEMS. Modern automobiles now perform and operate more safely and efficiently thanks to this technology. To identify and measure the separation between automobiles and other objects, Denso uses radar technology. Advanced Driving Assistance Systems (ADAS) employ this technology to notify motorists of potential hazards. Continental uses Lidar technology to build a 3D map of the area around the car and make safe navigation possible which will help them to reach USD 2,445 million in 2030 by revenue.

Automotive sensors’ price and cost depend on the type of sensor used and how well it performs. The dynamics of supply and demand play a vital role in defining the price of automobile sensors. Due to improvements in manufacturing technology and economies of scale, the cost of making automobile sensors has considerably lowered over time. Businesses typically employ the absorption costing method, which is cumulative of the cost incurred on labor, material, and administration. This approach is frequently utilized because it offers a more accurate depiction of the actual production costs of a product. Printed Circuit Boards (PCBs) and Micro-electromechanical systems (MEMS) contain a variety of components that are made mostly from raw materials like copper and aluminum. Around USD 5.2 is spent on a pound of copper, and the cost of aluminum is around USD 2,150 per ton.

Germany is a major player in this category with several leading companies based in the country such as Continental and Robert Bosch. The German category was valued at USD 4.8 billion in 2022. Japan is another major player with several leading companies such as Denso and Panasonic and was valued at USD 3.8 billion in Japan in 2022.

The automotive sensors category is highly fragmented.There are several participants, ranging from major organizations to small and medium-sized businesses. It is highly competitive, and businesses are always coming up with new ideas to get an advantage. Different sensors utilized for various purposes, such as temperature, pressure, and motion sensor, are used to segment this sector. With the growth of electric and autonomous vehicles, this industry offers enormous potential for growth and innovation. This will open up new doors for businesses to enter the market and create cutting-edge products. 

Automotive Sensors Procurement Intelligence Report Scope