Surge in use of custom designed electronics devices and growing demand for intelligent sensors in vehicles are driving the demand of Saudi Arabia automotive sensors market in the forecast period, 2023-2027.
According to TechSci Research report, “Saudi Arabia Automotive Sensors Market By Sensor Type (Temperature Sensor, Pressure Sensor, Oxygen Sensor, Position Sensor, Motion Sensor, Torque Sensor, Optical Sensor, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Application (ADAS, Chassis, Powertrain, Others), By Technology (MEMS, Non-MEMS), By Region, Competition Forecast & Opportunities, 2027”, the Saudi Arabia automotive sensors market is expected to witness robust CAGR in the forecast period, 2023-2027. Stringent vehicle safety regulations emphasizing the need to implement safety measures in automobiles and reduce pollution and the growing investments in the automotive infrastructure development are the key driving factors for Saudi Arabia automotive sensors market. Consumers' growing expenditure capacity enables them to afford electric vehicles and advanced automobiles having attractive features. Market players are employing automotive sensors to garner customer attraction and stay ahead in the market.
However, data privacy and security concerns may restrain the Saudi Arabia automotive sensors market growth for the forecast period.
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The Saudi Arabia automotive sensors market is segmented into sensor type, vehicle type, application, technology, regional distribution, and competitive landscape.
Based on sensor type, the market is divided into temperature sensor, pressure sensor, oxygen sensor, position sensor, motion sensor, torque sensor, optical sensor, and others. The position sensor is expected to capture the largest market share in the forecast period owing to the high demand for luxury vehicles and improved driving experience by consumers. Automotive manufacturers are making efforts to enhance comfort and convenience while driving automobiles, thereby accelerating the demand for autopilot and autonomous vehicles. The demand for position sensors is gaining momentum owing to the need to ensure the proper functioning and safety of all vehicle components and automobiles. Ongoing innovations in the automotive industry and the launch of advanced position sensors are expected to accelerate the demand for position sensors across the country.
Based on vehicle type, the market is divided into passenger car and commercial vehicle. The commercial vehicle is expected to witness the fastest incremental growth in the next five years owing to the strong economic position of the Kingdom of Saudi Arabia and the flourishing transportation and logistics sector. The growth of the e-commerce industry, which requires an efficient supply chain due to high internet penetration and the proliferation of smart devices, is expected to fuel the demand for commercial vehicles in the forecast period. Growing sales of commercial vehicles increase the demand for advanced automotive sensors to have a comfortable and safe riding experience.
Based on application, the market is divided into ADAS, chassis, powertrain, and others. The powertrain segment is expected to dominate the market through the next five years. The powertrain bolsters the demand for position, speed, pressure, gas as they are crucial to ensure a safe and comfortable riding experience for passengers. Implementation of strict emission regulations by leading authorities boosts the adoption of sensors in powertrain systems.
Based on technology, the market is divided into MEMS and Non-MEMS. MEMS segment is expected to account for a significant market share in the forecast period. MEMS sensors are used for different applications in automobiles, such as oil pressure sensing, exhaust gas recirculation, tire pressure monitoring systems, and pedestrian protection. These sensors offer several advantages in an automobile, including small size, low cost, and high efficiency.
Major market players operating in Saudi Arabia automotive sensors market are:
- Robert Bosch GmbH
- Denso Corporation
- Infineon Technologies AG
- Texas Instruments Incorporated
- Continental AG
- Sensata Technologies
- BorgWarner Inc. (Delphi Technology)
- Maxim Integrated
- Analog Devices, Inc.
- General Electric Company
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“The government is planning to invest in the construction of Neom City, which is expected to fuel the demand for autonomous vehicles for daily commuting purposes in Neom City. Neom city is expected to support the most advanced infrastructure and with the growing efforts to develop the advanced telecommunication sector by government is expected to support vehicle-to-vehicle and vehicle-to-city communications. Automotive sensor market players are advised to invest in R&D activities to advance the sensor technology and make it suitable for autonomous vehicles. The growing number of market players, supportive government policies, and the continuous evolution in technology is expected to propel the Saudi Arabia automotive sensor market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Automotive Sensors Market By Sensor Type (Temperature Sensor, Pressure Sensor, Oxygen Sensor, Position Sensor, Motion Sensor, Torque Sensor, Optical Sensor, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Application (ADAS, Chassis, Powertrain, Others), By Technology (MEMS, Non-MEMS), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of Saudi Arabia automotive sensors market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia automotive sensors market.
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