Report: Global Automotive Sensor Market Will Reach $92 Billion By 2026

New Delhi, Nov 29, : Driven by sensors that enable automated cars and ADAS (Advanced Driver Assistance Systems), global Automotive sensors market is expected to grow to more than $92 billion by 2026.This represents a 30% increase over 2021, according to a new report.
The majority of vehicle automation and ADAS Sensor revenue will come from CMOS (cameras used to recognize images) which will be more cost-effective than LiDAR in many situations.

 Report: Global Automotive Sensor Market Will Reach $92 Billion By

According to Juniper Research, sensors that monitor vehicle safety parameters in internal combustion engine will see a significant decline after increased electrification.

This is in response to the COP26 climate conference’s efforts to move countries towards 100 percent electric vehicle sales by 2030.

Miles Agbanrin (research co-author) said that “Electrification will transform the game for many sensors providers in the coming years.”

Agbanrin stated that there is less need for air monitoring in electric cars and that Sensor manufacturers must develop new relationships with battery manufacturers.

Research has shown that operational safety sensors, which account for more than half of all sensors shipped between 2021 and 26 in the period under review, will see their revenue decline due to accelerating electrification.

Juniper Research predicts that electric vehicles will make up more than a third of all consumer vehicles sold in 2026.

“This will mean that different sensors will need to monitor engine conditions.

This will result in a decline in demand for traditional O2 or NOX sensors.It noted that this change will take longer for commercial vehicles where internal combustion engines will continue to be the norm for a long time.

na/ #Automotive #Sensor #Delhi

#Sensor #Delhi #Automotive