COME 2026, AUTOMOTIVE SENSOR MARKET TO GLOBALLY GROW OVER US$92 BILLION - JUNIPER RESEARCH

KUALA LUMPUR, Nov 29 (Bernama) -- A new report from Juniper Research has found the automotive sensor market will grow to over US$92 billion by 2026, a 30 per cent increase over 2021, with a growth driven by sensors that enable automated vehicles and ADAS (Advanced Driver Assistance Systems). (US$1 = RM4.235)

Sensors monitoring various vehicle safety parameters in internal combustion engines will experience substantial decline from increased electrification of vehicles, following the COP26 climate conference’s initiatives to move countries to 100 per cent electric vehicle sales by 2030.

The new report, Automotive Sensors Market: Technology Evolution, Trends & Forecasts 2021-2026, expects LiDAR (Light Detection and Ranging) sensors to bring in US$3 billion in revenue in 2026; trebling in value as automakers start scaling roll-out of the technology in semi-automated vehicles and ADAS.

However, due to high unit costs, these deployments will remain low. The majority of revenue from vehicle automation and ADAS sensors will come from CMOS image sensors (cameras used for image recognition), which will remain more cost-effective than LiDAR in many situations in the short term.

The research found operational safety sensors, which make up over half of the sensors shipped between 2021-2026, will see revenue decline over the forecast period, thanks to accelerating electrification.

According to a statement, Juniper Research expects over a third of consumer vehicles shipped in 2026 to be electric, meaning different sensors will be needed to monitor engine conditions; resulting in declining demand for traditional O2 and NOX sensors.

However, this change will take longer for commercial vehicles, where internal combustion engines will remain the norm for far longer.

“With less need for air monitoring in electric vehicles, sensor manufacturers need to develop new relationships with battery manufacturers and the elements that need monitoring for those systems, or face severe losses in revenue,” noted research co-author Miles Agbanrin.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

-- BERNAMA