Automotive Key Self-driving Sensors Market: Introduction
- Technological advancements in the automotive industry, in terms of artificial intelligence coupled together with a rise in incorporation of information technology in vehicles, are paving the road for the future of autonomous vehicles. Several major automakers have announced their plans to launch autonomous vehicles in the near future. Automakers use numerous microcontrollers, sensors, ECUs, data chips among other components to enhance capabilities of autonomous vehicles. This, in turn, offers lucrative opportunity for major players engaged in the automotive key self-driving sensors market.
Key Drivers of Automotive Key Self-driving Sensors Market
- Rise in consumer demand for vehicle safety is boosting the global automotive key self-driving sensors market. According to an online survey conducted by HERE Global B.V. across the U.S. and Germany, several consumers are willing to pay extra money toward vehicles delivering advanced technologies such as predictive capabilities pertaining to safety and customized entertainment features that help manage daily activities. Autonomous vehicles can predict a probable vehicle collision and take appropriate actions such as lane change or emergency braking on their own. The aforementioned features (predictions) are enabled through data computing technology and input data fed by autonomous vehicle environment sensors installed in autonomous vehicles. Therefore, a rise in the adoption of advanced safety technologies in autonomous vehicles is expected to drive the global automotive key self-driving sensors market.
- Increase in trends toward vehicle electrification is projected to drive the global automotive key self-driving sensors market. Major players are anticipated to increase investments toward R&D of advanced vehicle systems such as Artificial Intelligence (AI), connected vehicle technology, and increase computing capabilities of vehicles in order to support upcoming trends in automobiles. Vehicles are increasingly becoming dependent on automotive sensors for operation. This, in turn, offers lucrative opportunity for players engaged in the automotive key self-driving sensors market.
- Major automakers and tier-1 suppliers in the automotive supply chain, technology suppliers/ providers, and companies that are not traditionally engaged in production of automobile or related component and technology are all racing to develop and invest in autonomous vehicle technologies. For instance, Apple Inc., which primarily is a well-known smartphone company, is planning to enter in the automotive industry by introducing an autonomous vehicle in the near future. Additionally, major strategies adopted by automakers, such as investments & expansions, contracts & agreements, and new product launches, and mergers & acquisitions, have emerged as a key strategy among key players, as companies look to strengthen their service offerings in terms of electric vehicles and expand geographic market reach by offering their products.
North America and Europe cumulatively to account for prominent share of global automotive key self-driving sensors market
- In terms of region, the global automotive key self-driving sensors market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
- North America and Europe have presence of economically stable countries. These regions are also home to technologically advanced research institutes catering to the development of electric vehicles. Additionally, major players have established their technological centers and manufacturing facilities in various countries including the U.S., Germany, the U.K., and France.
- Several new players emerging from these regions are focused on the development of electric vehicle technologies and autonomous vehicle technologies and have dedicated research centers pertaining to the same. All the factors mentioned above contributed to the major share held by these regions in the global automotive key self-driving sensors market.
Key Players Operating in Automotive Key Self-driving Sensors Market
The global automotive key self-driving sensors market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive key self-driving sensors market are:
- BorgWarner Inc.
- Continental AG
- Denso Corporation
- Hella GmbH & Co. KgaA
- Infineon Technologies
- Intel Corporation
- Johnson Electric
- Microchip Technology Inc.
- Mitsubishi Electric Corporation
- NXP Semiconductors
- Panasonic Corporation
- Robert Bosch GmbH
- Texas Instruments
- Toshiba Corporation
- VIA Technologies Inc.
- ZF Friedrichshafen AG
Global Automotive Key Self-driving Sensors Market: Research Scope
Global Automotive Key Self-driving Sensors Market, by Vehicle Type
- Passenger Vehicles
- Commercial Vehicle
Global Automotive Key Self-driving Sensors Market, by Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
Global Automotive Key Self-driving Sensors Market, by Product Type
- Camera Sensor
- LiDAR Sensor
- RADAR Sensors
Global Automotive Key Self-driving Sensors Market, by Application
- Adaptive Cruise Control System
- ADAS Systems
- Anti-lock Braking System
- Autonomous Parking System
- Collision Warning System
- Electronic Stability Control System
- Lane Departure Warning System
- Traction Control System
Global Automotive Key Self-driving Sensors Market, by Region
- North America
- Russia & CIS
- Nordic Countries
- Rest of Europe
- Asia Pacific
- South Korea
- ASEAN Countries
- Rest of Asia Pacific
- South America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.