Global Vehicles Intelligence Battery Sensor Market Size, Share & Trends Analysis Report By Vehicle Type, By Technology (Hall-Effect Sensor, MEMS Sensor, and Optical Sensor), By Application, By Regional Outlook and Forecast, 2024 - 2031
The Global Vehicles Intelligence Battery Sensor Market size is expected to reach $8.7 billion by 2031, rising at a market growth of 11.8% CAGR during the forecast period.
North America's market position is the result of a combination of factors, such as the region's high consumer demand for vehicles equipped with the most advanced safety and convenience features, stringent regulatory standards to enhance fuel efficiency and reduce vehicle emissions, and the region's advanced automotive industry. Consequently, the North American region would acquire nearly 27% of the total market share by 2031.
The automotive industry is currently experiencing a substantial transformation as a result of the growing popularity of electric and hybrid vehicles. Furthermore, the performance of electric and hybrid vehicles heavily depends on the state of their batteries. Hence, the increasing vehicle electrification is driving the demand for these sensors.
Additionally, Governments around the world are increasingly focused on environmental sustainability, and as a result, they are implementing stricter emission norms. Similarly, in the United States, the Corporate Average Fuel Economy (CAFE) standards have been progressively tightened to encourage the production of vehicles with higher fuel efficiency and lower emissions. Thus, implementing stringent emission regulations worldwide is a powerful catalyst for adopting technologies like IBS.
However, the initial phase requires substantial funding for research and development to innovate and refine the sensor technology. These high prices might be particularly problematic for smaller vehicle manufacturers because of their high total cost. Hence, the high costs associated with developing, manufacturing, and integrating vehicles intelligent battery sensors.
Vehicle Type Outlook
Based on vehicle type, the market is bifurcated into passenger cars and commercial vehicles. The commercial vehicles segment procured 38% revenue share in the market in 2023. The adoption of IBS technology in commercial vehicles is fueled by the increasing use of telematics and fleet management systems, which benefit from the predictive maintenance capabilities IBS provides, helping prevent unexpected breakdowns and optimize fleet performance.
Technology Outlook
On the basis of technology, the market is classified into Hall-Effect sensor, MEMS sensor, and optical sensor. The MEMS sensor segment recorded 32% revenue share in the market in 2023. MEMS sensors are highly regarded for their compact size, low power consumption, and capacity to incorporate multiple sensing functions into a single device.
Application Outlook
By application, the market is divided into battery management system, start-stop system, regenerative braking system, and others. The start-stop system segment garnered 31% revenue share in the market in 2023. In contemporary vehicles, start-stop systems are becoming more prevalent.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 34% revenue share in the market in 2023. The Asia Pacific region is home to some of the world's largest and most rapidly expanding automotive sectors, including China, Japan, South Korea, and India.
List of Key Companies Profiled
Robert Bosch GmbH
Continental AG
Texas Instruments, Inc.
Denso Corporation
HELLA GmbH & Co. KGaA (Forvia SE)
Infineon Technologies AG
TE Connectivity Ltd.
STMicroelectronics N.V.
NXP Semiconductors N.V.
Microchip Technology Incorporated
Global Vehicles Intelligence Battery Sensor Market Report Segmentation
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Technology
Hall-Effect Sensor
MEMS Sensor
Optical Sensor
By Application
Battery Management System
Start-Stop System
Regenerative Braking System
Others
By Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Vehicles Intelligence Battery Sensor Market, by Vehicle Type
1.4.2 Global Vehicles Intelligence Battery Sensor Market, by Technology
1.4.3 Global Vehicles Intelligence Battery Sensor Market, by Application
1.4.4 Global Vehicles Intelligence Battery Sensor Market, by Geography
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.2.3 Market Opportunities
3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
4.1 Market Share Analysis, 2023
4.2 Porter Five Forces Analysis
Chapter 5. Global Vehicles Intelligence Battery Sensor Market by Vehicle Type
5.1 Global Passenger Cars Market by Region
5.2 Global Commercial Vehicles Market by Region
Chapter 6. Global Vehicles Intelligence Battery Sensor Market by Technology
6.1 Global Hall-Effect Sensor Market by Region
6.2 Global MEMS Sensor Market by Region
6.3 Global Optical Sensor Market by Region
Chapter 7. Global Vehicles Intelligence Battery Sensor Market by Application
7.1 Global Battery Management System Market by Region
7.2 Global Start-Stop System Market by Region
7.3 Global Regenerative Braking System market by Region
7.4 Global Others Market by Region
Chapter 8. Global Vehicles Intelligence Battery Sensor Market by Region
8.1 North America Vehicles Intelligence Battery Sensor Market
8.1.1 North America Vehicles Intelligence Battery Sensor Market by Vehicle Type
8.1.1.1 North America Passenger Cars Market by Region
8.1.1.2 North America Commercial Vehicles Market by Region
8.1.2 North America Vehicles Intelligence Battery Sensor Market by Technology
8.1.2.1 North America Hall-Effect Sensor Market by Country
8.1.2.2 North America MEMS Sensor Market by Country
8.1.2.3 North America Optical Sensor Market by Country
8.1.3 North America Vehicles Intelligence Battery Sensor Market by Application
8.1.3.1 North America Battery Management System Market by Country
8.1.3.2 North America Start-Stop System Market by Country
8.1.3.3 North America Regenerative Braking System market by Country
8.1.3.4 North America Others Market by Country
8.1.4 North America Vehicles Intelligence Battery Sensor Market by Country
8.1.4.1 US Vehicles Intelligence Battery Sensor Market
8.1.4.1.1 US Vehicles Intelligence Battery Sensor Market by Vehicle Type
8.1.4.1.2 US Vehicles Intelligence Battery Sensor Market by Technology
8.1.4.1.3 US Vehicles Intelligence Battery Sensor Market by Application