Global Automotive Sensors Market to Reach US$20.6 Billion by 2017, According to New Report by Global Industry Analysts, Inc.

Share Article

GIA announces the release of a comprehensive global report on Automotive Sensors market. World Automotive Sensors market is forecast to reach US$20.6 billion by the year 2017. Demand for automotives sensors will be driven by recovery in GDP growth, employment rates, incomes levels and discretionary incomes, improving consumer confidence, and rise in automotive production levels.

Automotive Sensors: A Global Strategic Business Report

Follow us on LinkedIn - Automobile industry has emerged into a lucrative market for sensors, worldwide. Potential laden applications for sensors in automobile sector are electronic and electrical systems for enhancing comfort and safety. Vehicle manufacturers are making use of advanced electronic elements to manufacture vehicles that deliver on safety, fuel-efficiency and eco-friendliness, thereby creating a need for increased sensor volumes for use in each vehicle. The growing share of electronic components in an automobile therefore bodes well for the market. Automotive sensors industry witnessed a surge in sales over the past few years with demand driven by use of sensors in a wide range of vehicle safety and control applications such as anti-lock braking systems (ABS), airbags and engine emissions control. The industry provides huge opportunities for research and development and is an eager recipient of emerging technologies. In developed countries, sensors are expected to play a major role in shaping up the next decade to be one that will lay significant emphasis on driver visibility when behind the wheel together with technologies that help aid in identifying changes in traffic patterns.

The automotive sensor market experienced a decline in the years 2008 & 2009 as reduced sales and production of automobiles sent knock on effects up into the market. Consumer preferences during this period shifted towards lower priced, economy cars, as a result of which demand for MEMS (microelectromechanical) sensors, which are used largely in high end vehicles, not surprisingly declined.

In the coming years, however, reduction in cost of production of MEMS sensors will result in its use in all types of cars irrespective of the price. Also, regulatory changes which make vehicle stability control mandatory for new cars will further accelerate the penetration of MEMS sensors in automobiles. The market however, made a smart recovery in the year 2010 chiefly as a result of massive economic stimulus pumped by Governments and central banks across the globe into the automotive industry. The year 2010 witnessed strong comeback of demand for MEMS pressure sensors that are used to measure engine performance and tire pressure. Growth in passenger vehicles production coupled with greater inventory replenishment further bolstered the shipments of MEMS. Incentives offered by governments across the globe will continue to drive more frequent development and roll outs of new vehicle models, including alternative vehicles, thereby helping generate demand.

Focus on vehicle fuel efficiency and improved powertrain performance features will result in secure gains for sensors, such as, oxygen (O2) sensors, aftermarket back up warning sensor/ reverse parking sensors, aftermarket ABS sensor, airbag accelerometer sensors, tire pressure monitoring sensors, aftermarket coolant temperature Sensor, Wiegand effect sensors in aftermarket high-performance ignition systems, among numerous others.

As stated by the new market research report, Europe and Asia-Pacific account for a major share of the global Automotive Sensors market. By segment, Engine & Transmission Automotive Sensors is the largest contributor to global market revenues. Global market revenues for Safety & Security Automotive Sensors are expected to surge at a fastest CAGR of 9.2% over the analysis period. In the post recession period, car manufacturers will launch electronics-administered innovations for superior comfort and efficiencies, in response to stricter fuel mileage, safety and environmental regulations as well as high expectations from the customers.

Major players in the global marketplace include Allegro MicroSystems Inc, Analog Devices Inc, Aptina Imaging Corporation, Autoliv Inc, Bosch Sensortec GmbH, Bourns Inc, CASCO, Continental AG, Corrsys-Datron Sensorsysteme GmbH, CTS Corporation, Custom Sensors & Technologies Inc, Delphi Corporation, Denso Corporation, ELESYS North America Inc, Freescale Semiconductor Inc, GE Sensing & Inspection Technologies, Hamamatsu Photonics KK, Hamlin Electronics LP, Hella KGaA Hueck & Co, Hitachi Automotive Systems, Honeywell Sensing & Control, Infineon Technologies North America Corp, Magneti Marelli Holdings SpA, Melexis Microelectronic Integrated Systems NV, Micralyne Inc, Micron Technology Inc, NGK Spark Plugs USA Inc, NXP Semiconductors, Novotechnik US Inc, Omron Corporation, OSRAM Opto Semiconductors GmbH, Sensata Technologies, SSI Technologies Inc, TRW Automotive Holdings Corp, TT electronics plc, Universal Sensors Inc, among others.

The research report titled “Automotive Sensors: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections (in US$ Million) for major geographic markets including the US, Canada, Japan, Europe, Asia–Pacific (excluding Japan), and Rest of World. End-use segments analyzed include Engine and Transmission, Chassis, Safety and Security, Body and Other Applications.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Automotive_Sensors_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

Follow us on LinkedIn

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Public Relations
Visit website