As per P&S Intelligence, the increasing focus on making roads and vehicles safer will help in the growth of the automotive ultrasonic sensors market from $3,461.9 million in 2019 to $6,096.2 million in 2030, at a 5.1% CAGR between 2020 and 2030. This is because several types of ADASs, such as blind spot detection systems and self-parking systems, depend on ultrasonic sensors to determine the distance between the vehicle and another object. Moreover, with the increasing demand for self-driving vehicles with level 1, 2, and 3 autonomy, the installation of ultrasonic-sensor-driven ADAS is rising.
In this regard, a lot of countries are taking
initiatives to allow for the functioning of semi-autonomous vehicles and
encourage research, development, and testing activities for fully autonomous
vehicles, which are those with level 4 and 5 autonomy. For instance, the
Directorate General of Traffic (DGT) of Spain has allowed the operation of cars
with up to level 5 autonomy. Similarly, in 2017, 33 U.S. states implemented
vehicle-autonomy-related legislations, followed by 15 more the next year. Apart
from implementing legislations, governments are working with automakers and
automotive technology vendors to get their transportation infrastructure ready,
which would fuel the demand for automotive ultrasonic sensors.
As a result of all these reasons and the
immense government support for autonomous vehicles, Europe has been the largest
automotive ultrasonic sensors market for quite some time now. In addition, the
continent is home to several luxury carmakers, including Volkswagen AG, BMW AG,
Fiat Chrysler Automobiles NV, Daimler AG, and Renault–Nissan–Mitsubishi
Alliance, who are introducing these instruments in their vehicles. In the years
to come, the installation of ultrasonic sensors will burgeon in Asia-Pacific
(APAC), which is the largest automotive producer in the world.
Thus, as autonomous vehicles become more
popular and focus on road and automobile safety increases, so will the demand
for ultrasonic sensors.
Post a Comment