Automotive Sensors Market is Projected to Cross $17 Billion by 2020.


Posted November 19, 2015 by ElectronicsIARC

Automotive Sensor Market to Grow at a CAGR Of 14.97% as Sensors Usage Increases in Passenger Vehicles and Buses Globally!
 
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[b]Application Brief[/b]:

[b]Automobile or Automotive Sensors[/b] are no more limited to one aspect. There are a wide variety of sensors existing in the market in the current day: [b]pressure sensors, position sensors, temperature sensors, level sensors[/b] and others. All these sensors play an important role in the automobile industry by helping increase efficiency, safety and comfort of the travelers.

[b]Automotive Sensors[/b] find itself applied in various automobile components like: Powertrain Control System, Climate Control, Anti-lock Braking System (ABS), Electronic Stability Programme (ESP) System, Airbag Restraint System, Power Steering System, Engine Management System, Camshaft Position Sensor, Crankshaft Position Sensor and Body Dynamics Control System in order to provide occupants of vehicles with better comfort, driver safety and security among other related benefits.

[b]Market Trends & Growth[/b]:

[b]Steer-by-wire and automated highway driving[/b] are the major opportunities of [b]Automotive Sensors Market[/b]. The increasing demand for automobiles due to the increase in disposable income in Asia Pacific has been contributing to a huge part of the overall market. [b]Body control system, power steering system, climate control and ABS[/b] are some of the basic features provided by manufacturers as a standard option in vehicles at present. Moreover, hybrid and fuel cell vehicles have an exponential use of sensors for hydrogen leak detection, current monitoring, motor speed and position among others.

[b]Asia Pacific[/b] is one of the most attractive regions for the [b]market of Automotive Sensors[/b]. Demand for luxury vehicles with advanced safety and comfort features are the major factors fueling demand for [b]automotive sensors[/b]. However, Europe is the largest market for automotive sensors. The increasing number of government regulations to monitor driver safety and emission in automobiles is boosting growth of [b]Automotive Sensors Market[/b] further in this region.

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[b]Driving factors[/b]:

[b]The Automotive Sensors Market[/b] is expected to grow to soaring heights in the future and the notable driving factors would be briefed as:
• The electronic components in vehicles are increasing
• Worldwide Vehicle Production
• Technology Developments
• Customer Taste
• Government Mandates
• Development in the field of ’Advance Driver Assistance Systems‘(ADAS) and hybrid and electric vehicle are showing promising the future opportunities
• Low Cost & Compact Size of the sensors is gaining tremendous interest from the customers
• Ecofriendly & Bulk Manufacturing Capability
• Energy Efficiency factor of the automotive sensors is also a driving factor for this market
• Development of new applications for technologies which utilize nano and micro technology
• Increased research and development in the sensor industry is creating opportunities

[b]Market Restraints[/b]:

Pricing issues, high expectations from automotive OEM and no availability of aftermarket are the main challenges of the [b]Automotive Sensors Market[/b].

[b]REPORT SCOPE: Market Segmentation:[/b]

[b]Automotive Sensors Market[/b] is segmented into 5 broad types based on the following factors:
• By Type: Pressure Sensors, Temperature Sensors, Level Sensors, Speed Sensors, Oxygen Sensors, Position Sensors and Others.
• By Working Principle: Capacitive, Inductive, Magnetic, Optical and Others.
• By Application: Alternative Fuel, Powertrain, Telematics, Safety & Control and Others.
• By Vehicle Type: Cars, SUV, MUV, Trucks, 2-wheelers, Buses and Trains.
• By Geography: Americas, Europe, APAC and ROW.

[b]Key Players[/b]:

Major players such as Robert Bosch GmbH and Tesla Motors, Inc are testing automated highway driving which would help people drive more safely and conveniently in the future. This market report studies the top key players on a qualitative and quantitative basis. Few notable companies mentioned are:
• Delphi Automotive Systems, LLC
• Siemens AG
• Texas Instruments, Inc.
• Rockwell Automation Inc.
• Robert Bosch GMBH
• Sensata Technologies Holding N.V.

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Tags automotive sensor companies , automotive sensor industry , automotive sensor market , automotive sensor market analysis , automotive sensor market forecast , automotive sensor market report , automotive sensor market size , automotive sensor technology
Last Updated November 19, 2015