The report suggests that the global automotive sensors market will represent an opportunity worth US$33.17 bn by 2021 as compared to US$20.27 bn in 2014, with the market expected to register a steady CAGR of 8.6% between 2015 and 2021
Albany, NY -- (SBWIRE) -- 12/07/2016 -- This market research study analyzes the automotive sensors market on a global level, and provides estimates in terms of revenue (USD billion) from 2015 to 2021. It recognizes the drivers and restraints affecting the industry and analyzes their impact over the forecast period. Moreover, it identifies the significant opportunities for market growth in the next few years. In recent years, there has been increasing demand for vehicle driver safety and emission control in various countries which have shifted the focus of automotive OEMs with driver assistance systems and exhaust gas recirculation systems.
Automotive sensors find application in various automobile components such as 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. These provide occupants of vehicles with better comfort, driver safety and security among other related benefits.
The major opportunities of automotive sensors include steer-by-wire and automated highway driving. These systems are in the conceptual stage and major players such as Robert Bosch GmbH and Tesla Motors, Inc are already testing automated highway driving which would help people drive more safely and conveniently in the future.
The increasing demand for automobiles due to the increase in disposable income in Asia Pacific is one of the major factors fueling the demand for automotive sensors. In addition, increasing government safety regulations and emission control is also boosting the automotive sensors market. Body control system, power steering system, climate control and ABS 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.
Asia Pacific is one of the most attractive regions for the market of automotive sensors market. Demand for luxury vehicles with advanced safety and comfort features are the major factors fueling demand for automotive sensors. 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 this market in Europe.
This report is segmented by type, components, and geography, and also includes the drivers, restraints, and opportunities (DROs) of the automotive sensors market. The study highlights current market trends and provides the forecast from 2015 to 2021. The study also covers the current market scenario for automotive sensors market and highlights future trends that would influence demand. By geography, the market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). The current market size and forecast till 2021 have been provided in the report.
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The automotive sensors market has been segmented into five segments based on type. These include pressure sensors, temperature sensors, gas sensors, motion sensors and MEMS sensors. In addition, the automotive segment market has been segmented by components types into: powertrain, body electronics, chassis and safety & security on the basis of applications. To support the strategic decision making, the report also includes profiling of leading players in the industry, their market share and various strategies adopted by them. The value chain analysis and market attractiveness analysis included in the report provide insight in terms of industry competition.
The report also provides company market share analysis of the various industry participants with company overview, financial overview, business strategies, and recent developments in the field of automotive sensors market. Major market participants profiled in this report include Continental AG, Denso Corporation, Robert Bosch, Sensata Technologies Inc, Freescale Semiconductor Inc, Autoliv Inc., Infineon Technologies AG and among others.