Automotive Intelligence Battery Sensor Market to Thrive on Growing Eco-Awareness
Automotive intelligence battery sensors market are used in determining the correct state of voltage, current and temperature of the battery, that too, reliably and precisely. It also measures the state of the battery. The global automotive intelligence battery sensors market is expected to register a 11% CAGR during the forecast period (2018-2023). Market Research Future (MRFR) in their recent article on the automotive intelligence battery sensors market have raised their concerns regarding factors that can impact the coming years.
The automotive intelligence battery sensors market is gaining momentum owing to factors like increased sales in premium cars, automotive markets expansion in the developing countries, and surge in demand for electric vehicles and hybrid ones. This sensor plays an integral part in curbing the carbon dioxide emission by timely stating the exact condition of batteries. But its high price makes it difficult for the low-priced cars to get hold of it. This can dampen its market prospect in the coming years. However, government regulations regarding emission is expected to steer back the automotive intelligence battery sensors market on the track in no time.
MRFR, to analyze the global automotive intelligence battery sensor market in a detailed manner, segmented it by technology, voltage, vehicle type, and electric vehicle. This segmentation provides a much closer look at market dynamics.
Based on the technology, the automotive intelligence battery sensor market can be segmented into motor controller unit (MCU), controller area network (CAN), and local interconnect network (LIN).
Based on the voltage, the automotive intelligence battery sensor market includes 12 volt, 14 volt, 24 volt, and 48 volt.
Based on the vehicle type, the automotive intelligence battery sensor market comprises passenger car and commercial vehicles. The passenger car segment is gaining substantial ground owing to the hike in disposable income of the populace.
Based on the electric vehicle, the automotive intelligence battery sensor market consists battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. The hybrid electric vehicle model is gaining momentum owing to the rise in the demand for eco-friendly cars.
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Geographically, the global automotive intelligence battery sensor market is segmented in the MRFR report into four important regions namely, North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).
The APAC region is in a dominating position and during the forecast period it is going to retain its rank. Europe is expected to follow the APAC in terms of revenue generation. The APAC market is witnessing exponential growth in the automotive industry owing to the growth in the number of factories as many of the market titans are trying to gain mileage from the available cost-effective labor in the zone. It is mostly happening in India, China, and Japan.
Europe has a robust automotive industry, and high investment capacity of locals are allowing increase in sale of premium cars. These two factors, together, are the primary reasons leading the regional market. At the same time, the region has high demand for hybrid electric and plug-in hybrid electric vehicle. These types of cars also exhibit a strong demand for automotive intelligence battery sensors for better performance.
Major players impacting the global automotive intelligence battery sensor market are HELLA GmbH and Co. KGaA (Germany), Continental AG (Germany), Robert Bosch GmbH (Germany), NXP Semiconductors (Netherlands), Inomatic GmbH (Germany) Furukawa electric co., ltd. (Japan), ams AG (Austria), DENSO CORPORATION (Japan), Vishay Intertechnology Inc. (U.S.), MTA S.p.A. (Italy, and others. These companies are influencing the global market by employing strategic decisions that are expected to take respective companies forward. However, these moves are also putting a mark on the market as a whole.
In 2018, Mercedes launched Tourismo that is using this latest technology to identify the exact state of the automotive battery. This is to ensure consumer management and maximize battery charge usage.