Irving, TX (PRWEB) October 28, 2012
European and North American markets are expected to accelerate the demand for automotive chassis sensors due to regulatory changes leading to mandatory application of vehicle stability controls for upcoming vehicles. The global automotive chassis application is forecast to reach an estimated US $3.8 billion in 2017 with a CAGR of 3.5% over the next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global application software industry and presents its findings in “Global Automotive Chassis Application Sensors Industry: 2012-2017 Trend, Profit, and Forecast Analysis.”
The global automotive chassis application sensors industry, which is highly consolidated, counts automotive vehicle manufacturers and automotive component suppliers as its major customers. The industry places emphasis on growing sales of vehicles with sensing technologies dedicated toward vehicle and occupant safety thus providing dynamic driving experience by predicting uncertain events. The US, Europe, and Asia Pacific (APAC) are the major regions in attaining global growth for sensors in the automotive industry.
Lucintel’s market research indicates that the Europe witnessed the highest revenue during 2006-2011 due to increasing adoption and installation rates of electronic stability controls in new vehicles. The industry is expected to grow positively over the forecast period as mandatory implications of electronic stability control systems and tire pressure monitoring systems in North America and Europe will potentially drive the market for wheel speed, yaw rate, and acceleration sensors that serve chassis applications.
As the study indicates, rebounding automotive sales, coupled with passenger and light vehicles equipped with electric power steering and braking systems are major drivers for the industry. Industry players are likely to face some major challenges such as optimizing manufacturing and designing costs, as well as conformance to legislation standards to achieve maximum buyer satisfaction in terms of accurate computing and performance.
This study provides an overview of the global automotive chassis application industry, tracking a single market segment of that industry in four geographic regions. Thus, a total of four segments of the global application software industry are tracked.
For a detailed table of contents and pricing information on this timely,market report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.
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