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HomeDigit NewsAutomotive sensor market will grow to $ 92 billion by 2026

Automotive sensor market will grow to $ 92 billion by 2026

Experts from the analytical company Juniper Research tried to look into the future of the automotive sensor market. According to their forecast, this market by 2026 will grow by 30% compared to 2021 and will exceed $ 92 billion. The growth will be driven by the increased use of sensors for self-driving vehicles and driver assistance systems (ADAS or Advanced Driver Assistance Systems). At the same time, sales of sensors that monitor various parameters of vehicles powered by internal combustion engines will decline significantly due to the electrification of vehicles and the desire of many countries to switch to selling only electric vehicles by 2030.

The forecast also says lidars will bring $ 3 billion to manufacturers in 2026. This is three times more than it is now. At the same time, due to the high unit costs, the introduction of lidars will be relatively slow. Most of the revenue from vehicle automation and ADAS sensors will come from CMOS-type image sensors (cameras used for image recognition), which will remain more economically attractive than lidars in the short term.

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