Electric Vehicle Sensor Market Size Analysis and Top Companies
The global electric vehicle sensor market size and is expected to reach around USD 53.75 billion by 2033 from USD 13.12 billion in 2023 The market is expanding at a solid CAGR of 15.14% over the forecast period 2024 to 2033 The top companies operating in the electric vehicle sensor market are Melexis, Continental AG, NXP Semiconductors, Valeo, Robert Bosch, Venture Capital GmbH, Denso Corporation, Renesas Electronics, Panasonic, Sensate Technologies Inc., Amphenol Advanced Sensors, and Others.
Market Report Coverage
| Report Coverage |
Details |
| Market Size by 2033 |
USD 53.75 Billion |
| Market Size in 2023 |
USD 13.12 Billion |
| Market Size in 2024 |
USD 15.11 Billion |
| Market Growth Rate from 2024 to 2033 |
CAGR of 15.14% |
| Largest Market |
Asia Pacific |
| Base Year |
2023 |
| Forecast Period |
2024 to 2033 |
| Segments Covered |
Product Type, Propulsion, and Regions |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Electric Vehicle Sensor Key Players
- Melexis
- Continental AG
- NXP Semiconductors
- Valeo
- Robert Bosch
- Venture Capital GmbH
- Denso Corporation
- Renesas Electronics
- Panasonic
- Sensate Technologies Inc.
- Amphenol Advanced Sensors
Recent Developments
- In May 2022, Continental is expanding its range of sensor portfolio with the launch of its two latest electric vehicle sensors the Battery Impact Detection (BID), and the Current Sensor Module (CSM) system with the technology for protecting battery or on battery parameter retention.
- In June 2024, Planet Electric, a Delhi-based automobile startup is planning to introduce its first electric vehicle. The company is claiming the integration of industries first weight sensor telematics system which will provide real-time updates on cargo weight, and responds to the vehicle’s driving range.
- In October 2023, NVIDIA comes in the strategic partnership with the Foxconn to launch the next wave of intelligent electric vehicle (EV) platforms for the worldwide automotive market.
- In January 2024, Texas Instruments (TI) is launched the latest semiconductor design the AWR2544 77GHz mm-wave radar sensor chip, the first satellite radar architectures allows increase level of autonomy by enhancing sensor fusion and decision making in ADAS.
- In November 2023, United Safety & Survivability Corporation, a leading player in the advanced safety solutions is launched the new innovation, a Lithium-Ion Battery Failure Detection Sensor for transforming the safety standards of the electric vehicles across industries.
- In April 2023, Volvo, a leading automaker is starts its production of its EX90 electric vehicles with the integration of laser sensors to enhancing safety and self-driving features in the EX90. With enabling the EX90 will become the first consumer vehicle to standardize this technology.
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