Sensor market in automotive industry to reach 3.5 billion by 2035

August 29, 2023 – Boulder, Colo. – A new report from Guidehouse Insights analyzes the global market for sensors and computing platforms in automated vehicles.

Globally, automated vehicles deployed in some markets, focusing currently on urban robotaxis and highway driving. The LDV market has the necessary components for the growth of next-gen ADAS and ADS in the future. According to a new report from Guidehouse Insights, furthermore, more than 90% of all LDVs sold will have hands-off driving capabilities. Moreover, the report predicts that there will be over 3.4 billion sensors in the automotive market by 2035. In addition, the market will experience a CAGR of 11.7% from the 897.9 million sensors in 2023.

“The market for the sensors and computing platforms that are necessary enabling technology for this higher level of automation is set to expand greatly,” says Jake Foose, research analyst with Guidehouse Insights. “Vehicle original equipment manufacturers are deploying ADAS systems that are advancing to the degree where their automation will soon become a marketable safety feature. Within the next 10 years, the move to higher levels of automation will be well underway.”

Established sensor markets, like automotive camera and radar, will likely experience major growth. Less established sensors, such as lidar and thermal imaging, will become standard on many cars sold.
According to the report, the computing power of vehicles will increase as automation levels rise, enhancing their capabilities.

The report, Sensors and Compute Platforms in Automated Vehicles, establishes new definitions of automated vehicles that are more consumer-oriented. The report provides an analysis of barriers and drivers to the automation market. It also examines how those specifically impact the sensors and computing market. The report provides a global outlook for the deployment of each level of automation, automation sensors, and computing platforms. It also analyzes the levels of computing platforms required to handle and process the data effectively. Analyses cover the period 2023-2035 and segmented by eight global regions and sub-regions. An executive summary of the report is available for free download on the Guidehouse Insights website

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