A new report from Juniper Research says the automotive sensor market will grow by 30 percent to more than $ 92 billion by 2026. This expansion will be driven by sensors enabling automated vehicles and ADAS (Advanced Driver Assistance Systems)
Sensors monitoring the various vehicle safety parameters of internal combustion engines will be significantly reduced due to the increasing electrification of vehicles. The initiatives of the COP26 climate conference to shift countries to 100 per cent sales of electric vehicles by 2030 strongly confirm this trend.
“Automotive Sensors Market: Technology Evolution, Trends & Forecasts 2021-2026 “reports that LiDAR (Light Detection and Ranging) sensors will generate $ 3 billion in revenue by 2026. That value will triple as automakers begin to introduce the technology in semi-automatic vehicles and ADAS systems. However, due to high unit costs, these applications are still not widespread. Most of the revenue from in-vehicle automation and ADAS sensors will come from CMOS image sensors (cameras used for image recognition), which in many cases will remain more cost-effective than LiDAR in the short term.
Research shows that between 2021 and 2026 more than half of the delivered sensors will be operational safety sensors, whose revenues will decline over the forecast period due to accelerating electrification. Juniper Research expects more than a third of consumer vehicles delivered in 2026 to be electric. This means that other sensors will be needed to monitor engine condition, resulting in a decrease in demand for conventional O2 and NOX sensors. However, in the case of commercial vehicles, this change will continue, as internal combustion engines will remain much longer.
“Electrification will change the game for many sensor suppliers in the coming years. air monitoring is needed, sensor manufacturers will have to make new contacts with battery manufacturers and deal with the batteries that need to be monitored in these systems, otherwise they will face a serious loss of revenue, “said Miles Agbanrin, co-author of the research
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