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US Automotive Sensors Market 2024 (Latest Report) Becoming Top in Industry by 2032 and Enhance Future Growth

US Automotive Sensors Market 2024 (Latest Report) Becoming Top in Industry by 2032 and Enhance Future Growth

The recent “US Automotive Sensors Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “US Automotive Sensors Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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US Automotive Sensors Market Analysis and Growth Forecast:

The United States Automotive Sensors Market is expected to register a CAGR of 10% during the forecast period, 2020-2025.

Key Companies Covered in the US Automotive Sensors Market Research are Texas Instruments Incorporated, Continental AG, NXP Semiconductors, and Robert Bosch GmbH and among other key market players.

Key Highlights

The United States is home to the largest semiconductor companies. With a growing focus towards artificial intelligence (AI) and machine learning in vehicles, automotive companies are heavily investing in sensor technology. With the availability of a wide range of microchips and on-chip system devices, safety and comfort have become the primary drivers for the Unites States automotive sensor market.

Few of the in-demand sensor technologies include ADAS, lane change warning, anti-lock braking system (ABS), electronic stability control, and adaptive cruise control (ADS), which help improve the safety and provide stress-free driving conditions to the driver.

The in-bound cameras, radar, and LIDAR data enhance ADAS technology in vehicles to see and adapt to the world around them. The automakers are also planning to introduce the various features in several new vehicle models to prevent children or pets from being left unattended in vehicles. According to the National Highway Traffic Safety Administration, nearly 50 lives were lost each year.

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Key Market Trends

Automotive Sensors Enhancing Driver Safety

Developed nations like the United States have imposed various stringent regulations to ensure driver safety. Owing to stringent fuel emission norms and driver safety, sensors will be increasingly in demand for the automotive sector, especially in the United States, as the installation rate of these sensors will be maximum in a short amount of time to comply with the ever-changing regulations.

Safety sensors, such as anti-theft, seat impact sensors, belt tension, and parking sensors, are expected to increase demand. Significant manufacturers are taking the opportunity and contributing significantly to the growth of the automotive sensors market.

With the rapid increase in the integration of safety systems in vehicles, especially in the United States, major players in the market are acquiring other small companies to hold a major share of the market. For instance, in March 2020, TE Connectivity Ltd completed its takeover of First Sensor AG. First Sensor is a global player in sensor technology; its expertise is in chip design and production; it develops and manufactures standard sensors and customer-specific sensor solutions. It has production and sales sites in the United States, along with a worldwide partner network.

Similarly, in 2019, Measurement Specialties Inc., a subsidiary of TE Connectivity, has agreed to acquire Silicon Microstructures Inc. (SMI) from Elmos Semiconductor AG. Silicon Microstructures has a product portfolio of MEMS-based pressure sensors in digital and analog versions.

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Commercial Vehicles Driving Demand for Automotive Sensor

The United States is witnessing a significant boom in the construction and transportation sector. This has resulted in the demand for heavy commercial vehicles. As a result, many truck fleet owners and operators invest in performance upgrades to improve fuel efficiency and driving comfort.

Commercial vehicles are increasingly adopting autonomous braking systems, lane-keeping assist, and adaptive cruise control systems. In the United States, trucks are anticipated to utilize ADAS and connectivity technology to commercialize in the construction and transport space, which will increase the ADAS penetration of sensors in the automotive industry.

For instance, in May 2020, Doosan Bobcat North America has partnered with Ainstein AI, Inc., a radar technologies company, to develop radar sensor systems for Bobcat equipment. The companies will work together to create radar-based sensing solutions to detect objects and people on job sites. This technology will be crucial for implementing either semi-autonomous and fully autonomous equipment on the construction site.

Whereas in January 2020, Texas Instruments launched the new Jacinto 7 processor platform. The new Jacinto processor platform brings enhanced deep learning capabilities and advanced networking to solve design challenges in advanced driver assistance systems (ADAS) and automotive gateway applications.

Competitive Landscape

The United States automotive sensors market is dominated by various international and regional players such as Texas Instruments Incorporated, Continental AG, NXP Semiconductors, and Robert Bosch GmbH. The major automotive sensors manufacturing companies in the market are launching new products to edge over their competitors. For instance,

In March 2020, Mitsubishi Electric developed a lidar sensor using a micro-electromechanical system (MEMS) mirror with an extra-wide scanning angle. The lidar product for autonomous vehicles irradiates objects by laser. It uses a dual-axis MEMS mirror to scan for the reflected light, generating three-dimensional images of vehicles and pedestrians.

In September 2019, Ouster teamed up with NVIDIA to provide lidar sensors for Level 3 to Level 5 autonomous driving systems. The new system is based on the high-resolution Ouster OS2 lidar and runs on the NVIDIA DRIVE AGX platform.

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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