October 27, 2020

Global Autonomous Vehicle Sensor Market | Increased Need to Reduce Road Accidents to Boost the Market Growth

The global autonomous vehicle sensor market size is poised to grow by 45.3 million units during 2020-2024, progressing at a CAGR of over 37% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Autonomous Vehicle Sensors Market 2020-2024 (Graphic: Business Wire)

The rise in the urgency in curbing road accidents is one of the primary drivers for this market. Road traffic accidents are one of the leading causes of death. In an attempt to counter the rising number of road accident fatalities, several governments across the globe are promoting the adoption of LiDAR sensors in vehicles. LiDAR sensors form an essential component of autonomous cars. This continued enforcement by governments across the globe will curb accidents through the use of automated driving systems, which, in turn, will augment growth in the global autonomous vehicle sensors market during the forecast period.

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Report Highlights:

  • The major autonomous vehicle sensor market growth came from the radar sensors segment. Radar sensors hold the highest market share among all other types of autonomous vehicle sensors available in the market. Market growth in this segment will be slower than the growth of the market in the LiDAR sensors segment, but faster than the growth in image sensors and other sensors segments.

  • North America was the largest autonomous vehicle sensors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Strict emission norms and increasing road safety, passenger safety, and vehicle security concerns will significantly influence autonomous vehicle sensors market growth in this region.

  • The global autonomous vehicle sensor market is fragmented. Aptiv PLC, Asahi Kasei Corp., Continental AG, DENSO Corp., HELLA GmbH & Co. KGaA, Mitsubishi Electric Corp., NXP Semiconductors NV, Robert Bosch GmbH, Siemens AG, and Valeo are some of the major market participants. To help clients improve their market position, these autonomous vehicles sensor market forecast report provides a detailed analysis of the market leaders.

  • As the business impact of COVID-19 spreads, the autonomous vehicle sensor market 2020-2024 is expected to have Neutral growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Use of LiDAR Sensors in Road Asset Management will be a Key Market Trend

The use of LiDAR sensors in road asset management, one of the latest autonomous vehicle sensors market trends, will also drive market growth. LiDAR finds multiple uses in the maintenance of transportation infrastructure. For instance, the government of the UK introduced a traffic speed road assessment condition survey (TRACS). The UK Highways Agency conducts routine surveys of trunk road pavement surfaces to establish the condition of the network. This signifies that the LiDAR technology has the potential to deliver measurements of objects much further from the survey vehicle. These advantages of LiDAR sensors will propel global autonomous vehicle sensors market growth. However, the growth momentum will decelerate during the forecast period.

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Autonomous Vehicles sensor Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist autonomous vehicles sensor market growth during the next five years

  • Estimation of the autonomous vehicles sensor market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the autonomous vehicles sensor market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of autonomous vehicles sensor market vendors

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Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

Five Forces Analysis

Market Segmentation by Product by Volume

  • Market segments

  • Comparison by Product by volume placement

  • Radar sensors – Market size and forecast 2019-2024 ($ millions)

  • Image sensors – Market size and forecast 2019-2024 ($ millions)

  • LiDAR sensors – Market size and forecast 2019-2024 ($ millions)

  • Other sensors – Market size and forecast 2019-2024 ($ millions)

  • Market opportunity by Product by volume

Customer landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • North America – Market size and forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • APAC – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver – Demand led growth

  • Volume driver – Supply led growth

  • Volume driver – External factors

  • Volume driver – Demand shift in adjacent markets

  • Price driver – Inflation

  • Price driver – Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201014005120/en/

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