Austin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The Automotive Intelligence Battery Sensor Market Share is estimated to reach USD 10.97 billion by 2032 and grow at a CAGR of 9.5% over 2024-2032.
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KEY PLAYERS
- DENSO CORPORATION
- Continental AG
- HELLA GmbH and Co. KGaA
- Vishay Intertechnology Inc.
- Inomatic GmbH
- NXP Semiconductors
- ams AG
- Robert Bosch GmbH
- Furukawa electric co. ltd.
- MTA S.p.A.
The automotive intelligence battery sensor market is driven by technological advancements and evolving consumer preferences.
The increase in electric vehicle (EV) popularity, along with strict emissions rules, has required the creation of advanced battery management systems. Intelligent sensors are essential in these systems to monitor battery health, improve performance, and maintain safety.
Furthermore, with the growing emphasis on self-driving technology, it is essential to monitor batteries accurately to avoid sudden shutdowns and ensure the proper functioning of vehicles. As the automotive sector moves towards using electric and self-driving technology, there will continue to be a strong need for advanced battery sensors in vehicles.
USD 210 Bn of announced investments in Electric Vehicle Manufacturing headed for the U.S. boosting the overall growth of U.S. marketplace.
The growth of the automotive intelligence battery sensor market is driven by the expanding use of electric vehicles (EVs) and the increasing need for advanced driver assistance systems (ADAS). With the increasing popularity of electric vehicles, it is crucial to prioritize effective and trustworthy battery management.
Battery sensors are essential for monitoring the health, charge status, and temperature of batteries to ensure they perform well and last a long time. Additionally, the increase in ADAS functions, like self-driving and advanced safety technology, requires precise and immediate battery information.
Automotive Intelligence Battery Sensor Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 4.85 billion |
| Market Size in 2032 | USD 10.97 billion |
| CAGR (2024-2032) | 9.5% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
|
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The LIN technology segment currently dominated the market, accounted for approximately 45% of the total share in 2023.
Its low cost and ease of implementation make it a preferred choice for conventional vehicles. However, the CAN and MCU segments are witnessing significant growth, especially in high-end vehicles and electric vehicles, driven by their ability to handle complex data transmission and processing requirements.
Passenger cars represent the primary market for automotive intelligence battery sensors, holding around 70% of the market share. The growing demand for electric and hybrid vehicles, coupled with stringent emission regulations, is driving the adoption of these sensors in this segment.
The APAC region dominated the automotive intelligence battery sensor market, held 35% of the market share in 2023.
The regions strong automotive manufacturing industry, along with a rising need for electric vehicles (EVs), has spurred the advancement of battery sensor technology. China has become a major player in the electric vehicle industry, largely due to significant government support and investment in EV infrastructure.
The growing use of hybrid electric vehicles (HEVs) and plug-in hybrid electric vehicles (PHEVs) is driving the need for precise battery monitoring and management systems.
Competitive Landscape:
- Established players like Bosch, Continental, and Panasonic leverage their extensive experience and manufacturing capabilities to maintain market leadership.
- Emerging players with innovative sensor technologies and cost-effective solutions are posing a significant challenge.
- The market is also influenced by factors such as intellectual property rights, supply chain dynamics, and regional variations in consumer preferences.
- As the automotive industry transitions towards electrification, the competition for developing advanced battery sensor technologies is expected to intensify further, driving innovation and shaping the future of the market.
Key Trends:
By early 2024, new data shows a sudden increase in the need for these sensors, especially in areas with strong electric vehicle (EV) adoption regulations. Important developments influencing this industry involve the growing incorporation of cutting-edge sensor technologies like LiDAR and radar into battery management systems to improve safety and performance.
The move to solid-state batteries is predicted to drive advancements in sensor design to adjust to their distinct qualities.
An important advancement in 2023 was the launch of AI-driven sensors that could predict when maintenance was needed, leading to longer battery life and less downtime.
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Key Takeaways:
- Smart sensors are crucial for keeping track of battery condition, enhancing efficiency, and prolonging battery lifespan. Furthermore, strict emissions laws around the globe are forcing car manufacturers to incorporate advanced battery technologies in traditional gas-powered vehicles.
- Advancements in sensor accuracy, reliability, and integration functionality are driving market growth. Integrating smart battery sensors with car telematics and connected systems allows for improved diagnostics and proactive maintenance.
- Consumers are placing more emphasis on extended battery life and increased vehicle range, leading to a growing demand for these sensors in the automotive intelligence battery sensor market, showing promising potential for growth and innovation.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Automotive Intelligence Battery Sensor Market Segmentation, By Voltage
- 12 Volt
- 14 Volt
- 24 Volt
- 48 Volt
8. Automotive Intelligence Battery Sensor Market Segmentation, By Vehicle Type
- Passenger Cars
- Commercial Vehicle
9. Automotive Intelligence Battery Sensor Market Segmentation, By Technology
- LIN
- CAN
- MCU
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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