Electric Vehicle Sensor Market Projected to Reach $37.4 Billion By 2031| Allied Market Research
The global electric vehicle sensor market was valued at $9.6 billion in 2021, and is projected to reach $37.4 billion by 2031, growing at a CAGR of 15.1% from 2022 to 2031.
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Electric vehicle sensors detect, measure, and transmit information, which help in analyzing performance of vehicles. Sensors are devices that detect events or changes in environment and then provide a corresponding output. They sense physical input such as light, heat, motion, moisture, pressure, or any other entity, and respond by producing an output on a display or transmitting the information in electronic form for further processing.