PUNE, India, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global Automotive Sensors Market amounted to USD 10.44 billion in 2020. The global market size is expected to grow from US$10.10 billion in 2021 to US$15.6 billion in 2028, at a CAGR of 6.38% over the forecast period of 2021-2028. This information is provided by Fortune Business Insights in its report titled Automotive Sensors Market, 2021-2028.
According to our analysts, factors such as increasing demand for modern safety, comfort and technology features are likely to fuel the growth of the market. Furthermore, the increasing popularity and adoption of autonomous vehicles could spur the growth of the market in the coming years.
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Report Highlights:
| report coverage | details |
| forecast period | 2021-2028 |
| Forecast period 202 to 2028 CAGR | 6.38% |
| Value prognosis 2028 | $15.6 billion |
| base year | 2020 |
| Market size in 2021 | $10.10 billion |
| Historical data for | 2017-2019 |
| number of pages | 150 |
| segments covered | By sensor type, by application type, by vehicle type and by region |
| growth accelerator | Increasing adoption of autonomous vehicles to boost market growth |
| Improving disposable income levels to fuel growth in Asia Pacific |
COVID-19 Impact Analysis-
The humanitarian crisis has hampered the growth of the global automotive industry. Demand for passenger and commercial vehicles has declined during the pandemic. The low vehicle production due to the low available labor force has hampered the market growth. The strict lockdowns and curfews imposed by the governments of several nations have disrupted the global supply chain and logistics networks and slowed down the growth of the market. Some players in the Asian countries are recovering quickly compared to others. The effects of the coronavirus pandemic are expected to last for a long time and the market is…
