By 2031, the automotive MEMS sensor market is estimated to cross 5 billion growing at a CAGR of 14.5% during the forecast period of 2024 to 2032. Increased demand for car safety and security have increased the demand for automotive MEMS sensors. MEMS sensors are employed in navigation, rollover, and crash detectors. Automotive MEMS sensors may affect electronic part makers, automobile part makers, and car buyers. The laws and standards for the automotive MEMS sensor sector are essential to many countries.
Electrification and automation are major advances that are currently impacting the automotive industry. RADAR, LiDAR, and imaging have been incorporated into vehicle systems swiftly. In the next few years, MEMS sensor sales are likely to soar. With enhanced stability control, ADAS units, and crash warning systems, the car market is a rising market for high-end IMUs. In the next several years, as luxury automakers move toward L5 autonomous driving, the market will open up for IMU-powered MEMS sensors connected to acceleration, LiDAR, and motion detection systems.
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Due to increased demand for safety, comfort, performance, and stability concerns, OEMs are adding innovative features to cars. This has boosted the market for electronic components to expand and made mechanical parts less important in the auto business. The gyroscope is more stable over time and temperature, which increases its accuracy for advanced navigation systems and motion-controlled tasks. An automobile's gyroscope measures orientation and angular velocity. In the automotive sector, the MEMS-based gyroscope in the ESP is a strong safety device. Sensors that assess turn speed assist ESP to stabilise the car. It measures the vehicle's axis speed and delivers that data to systems that help the driver stay on course. Consequently, the gyroscope will have the highest CAGR during the projection period.
In 2023, accelerometers contributed over 38% of global revenues, dominating the market. Accelerometers are best for non-critical applications like navigation, telematics, safety, and infotainment since they require less power and can perform in a wider temperature range. Also, accelerometers have a wide temperature range and work well with automotive airbags. During the forecast period, the pressure sensor market will rise rapidly. This is because of new features and benefits, such as detecting failed hydraulic brakes early, optimizing air pressure-fuel mix, eliminating exhaust pollutants automatically, tracking exhaust recirculation, and triggering airbags faster.
Due to its many uses and advantages, OEM is predicted to have the biggest market. OEMs are installing MEMS sensors in all cars. OEMs install sensors after testing, which improves vehicle performance. The aftermarket will flourish because customers can obtain cheaper equipment and make changes there.
In 2023, the Passenger segment will have 58% of the Automotive MEMS Sensor Market. Due to tight government laws, a huge number of passenger vehicles, and increasing demand for communication solutions, safety systems, flow control systems, and infotainment features, the passenger vehicle segment is likely to be the largest market in the next several years. The commercial category is likely to develop over the next few years since it allows safer, more advanced capabilities like lane departure and speed and pressure detection.
According to the American Automotive Policy Council, automotive exports totalled USD 692 billion over the past five years in North America. The automotive sector accounts for about 3% of the region's GDP, which helps the studied market grow. Electric vehicle adoption in the US has expanded significantly, and they make up around 1% of car sales. Therefore, North America generated 38% of worldwide revenues in 2023. APAC will develop fastest during the forecast period of 2024 and 2032.
The automotive MEMS sensor market is competitive and has several significant players. Big players dominate the market. These companies are collaborating to increase their market share. Major players in this market include InvenSense, Inc. (U.S.), Analog Devices, Inc. (U.S.), Robert Bosch GmbH (Germany), General Electric Company (U.S.), Denso, Panasonic Corporation (Japan), Infineon Technologies AG (Germany), Sensata Technologies, Inc. (U.S.), Hitachi, Ltd. (Japan), Freescale Semiconductor, Inc. (U.S.), Harman International (U.S) and others.
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