PUBLISHER: Market Research Future | PRODUCT CODE: 1679130
PUBLISHER: Market Research Future | PRODUCT CODE: 1679130
Global Motorsports Sensor Market Research Report by Sensor Type (Lambda Sensors, Temperature Sensor, Tyre Pressure Sensor, Rotary Position Sensor, Air Pressure Sensors, Fluid Pressure Sensors, Brake Sensors, Speed Sensors, Vehicle Dynamics Sensors, Others), By Type (Drivetrain, Braking, Electronics, Tires, Suspension, Others), By Racing Type, By Sales Channel (OEM, Aftermarket) and By Region Market Forecast Till 2032
In 2022, the Motorsports Sensor Market Size was estimated to be USD 151.29 million. The Motorsports Sensor market industry is anticipated to experience a compound annual growth rate (CAGR) of 5.2% from USD 157.34 million in 2023 to USD 249.32 million by 2032. Motorsports sensors are devices that are incorporated into vehicles that are used in racing to collect data on a variety of parameters. These sensors are intended to quantify the pressure in a variety of media, including sediment, water, and air, either in absolute or relative terms. Teams can maximize performance, monitor engine health, and make data-driven decisions during races with the assistance of these sensors, which provide real-time information.
In recent years, the motorsport industry has undergone a significant transformation as a result of the trend of miniaturization and the advancements in sensor technology. Miniaturization is the process of reducing the size of electronic components and devices without sacrificing their functionality or performance. This trend has significantly impacted the motorsport sensors market, affecting a variety of factors such as vehicle performance, data analysis, and racing.
Market segment insights
The Motorsports Sensor Market segmentation is structured according to the type of sensor used, including Lambda Sensors, Temperature Sensors, Tyre Pressure Sensors, Rotary Position Sensors, Air Pressure Sensors, Fluid Pressure Sensors, Brake Sensors, Speed Sensors, Vehicle Dynamics Sensors, and Others.
Market segmentation is categorized by type: Drivetrain, Braking, Electronics, Tires, Suspension, and Others.
The market segmentation is categorized by racing type, including Rallying, Formula Racing, Touring Car Racing, Sport Car Racing, Stock Car Racing, Drag Racing, Hill Climbing, Karting, Single Marque Racing, and Others.
The Motorsports Sensor Market is segmented into OEM and Aftermarket based on the Sales Channel.
Regional Perspectives
The study offers market insights into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America by region. In 2022, the North American Motorsports Sensor market comprised approximately 30.1% of the total. During the study period, it is anticipated that there will be a substantial increase in the compound annual growth rate (CAGR).
Modern racing teams are voracious data consumers. A continuous stream of real-time data is produced by each sensor, such as temperature sensors and pressure sensors. The intricacies of vehicle performance are revealed when sophisticated software analyzes this data, optimizing aspects such as engine efficiency and tire traction. This data-driven methodology offers teams a critical advantage in reducing the number of precious milliseconds on the track. Furthermore, sensor technology is advancing at an accelerated pace.
Driver safety is being prioritized by motor racing governing bodies, including the National Hot Rod Association (NHRA) and the IndyCar Series, through the implementation of rigorous regulations. In order to facilitate rapid medical interventions and monitor accident severity, these regulations require the use of specific sensors, such as head impact sensors and G-force sensors. This not only promotes public confidence in the sport but also guarantees the safety of participants. The deployment of LiDAR and radar sensors to meticulously map tracks is equally critical for track safety.
Robert Bosch GmbH, Izze-Racing LLC, Emtron Australia Pty Ltd, Sensata Technologies, AiM Tech Srl, TE Connectivity Ltd., Kistler Group, Motorsports Electronics, Reventec Ltd, KA Sensors Ltd, PMC Engineering Inc., Baker Hughes Company, Sentronics Limited, Continental AG, and Infineon Technologies AG are the primary players in the market.