Automotive sensors are the devices, used in automobiles, which detects physical or chemical quantity such as temperature or position and transduces, indicate or respond to it. These sensors are made out of semiconductors such as cobalt and nickel. Automotive sensors are used to increase vehicle performance, safety and passenger comfort. Sensors are getting improved in terms of quality, smartness and they are more specific and robust.
The market is anticipated to expand at a CAGR of 7.8% over the period i.e. 2017-2024. The global automotive sensors market is expected to reach USD 45.76 billion by 2024.The global automotive sensors market is expected to rise in terms of demand due to the invention of diverse sensors along with technological advancement of connected integrated technologies. Also, high efficiency and cheaper price of new generation sensor is expected to encourage the market growth.