From GlobeNewswire: 2025-05-28 14:31:00

Global Markets for Automotive Sensor Technologies is expected to grow from $37.8 billion in 2024 to $51.6 billion by 2029, with a 6.4% CAGR. The report covers sensor types, applications, and deployment trends, driven by consumer interest in EVs, smart vehicle demand, and advancements in connectivity and 5G integration.

Factors driving the market include increasing consumer awareness of vehicle safety, demand for smart vehicles, surge in EV usage, and innovations in vehicle connectivity. The adoption of 5G technology is enhancing automotive sensor performance and capabilities, leading to a projected market growth to $51.6 billion by 2029.

The report highlights market trends and key players in automotive sensor technologies, addressing factors like growing consumer awareness of vehicle safety, demand for smart vehicles, surge in EV usage, innovations in connectivity, and 5G integration. The market is projected to reach $51.6 billion by 2029, with chemical and gas sensors dominating.

In 2023, global automobile sales exceeded 72 million units, with EV sales reaching nearly 14 million. Europe’s safety regulations will require AEB and lane-keeping systems in all new cars by 2024. Asia-Pacific leads the market share for automotive sensor technologies, with continuous growth expected.

Key market leaders include Aptiv, Analog Devices, Continental AG, Denso Corp, Infineon Technologies, and more. Startups like Cepton Technologies, Grayscale AI, and Bynav Technology are driving innovation in LiDAR, sensor fusion, and GNSS/INS positioning systems for automotive applications.

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