Automotive Sensors: A Global Strategic Business Report
San Jose, California (PRWEB) June 03, 2013
Follow us on LinkedIn - Technological advancements over the years has transformed the automotive industry worldwide. Changing user preferences, particularly with focus on improving on-road safety, fuel economy and environmental benefits, are playing a major role in influencing developments in the automotive industry. Increasing integration of sensors in automobiles is one of the many developments the industry has seen in recent years. Growing consumer demand for automotive technologies that help achieve high fuel efficiency and low vehicle maintenance costs, which are critical especially against backdrop of volatile economic conditions, have been driving auto manufacturers to equip their vehicles with range of sensors. Barometric airflow and manifold airflow pressure sensors are finding rapid penetration in automobiles as they significantly reduce fuel consumption.
Rising environmental concerns and growing inclination among vehicle owners to cut down vehicular emissions are also helping drive demand for sensors. Increasing demand for integration of innovative stop-start systems is also helping drive significant demand for sensors in automobiles. The systems automatically turn the engine off when the vehicle is idle or when driver is waiting at traffic signals thus reducing fuel consumption and lower carbon emissions.
Increasing integration of safety technologies in automobiles is also helping drive significant gains in the global automotive sensors market. Safety of driver and passengers has emerged into a new competitive factor in the global automobile industry driving auto majors to incorporate several safety related electronic components such as airbags, vehicle control technologies and a range of driver assistance systems in their vehicle models. Automotive driver assistance technologies are rising in popularity with consumers’ increased emphasis on safety catalyzing the evolution of these technologies. Innovative technologies like Blind Spot Detection (BSD), Intelligent Parking Assistance (IPA), Lane Departure Warning (LDW), & Night Vision System (NVS), Electronic Stability Control/Anti-Lock Braking System (ESC/ABS), and Adaptive Cruise Control (ACC), among numerous others, harbor the potential to reduce the number of accidents by over 50%. As key enablers, sensors used in these systems take the human error out of the equation by communicating with the external environment and surroundings to recognize critical traffic situations and either alert driver or automatically initiate vehicle control application systems like braking systems and cruise control, among others.
Government regulations that mandate use of technologies that can enhance safety and reduce pollution are also accelerating adoption of automotive sensors. Several legislations already in place like in the United States and yet to be implemented in other markets have and will continue to shape growth patterns in the market. For instance, Electronic Stability Control systems and Tire Pressure Monitoring Systems, which are already mandatory for vehicles in the US will now find their demand growing in the European market, where they are scheduled to become mandatory fixture very soon, thus fuelling market prospects for related sensors. Demand for sensors useful for vehicle security applications such as Passive Keyless Entry (PKE) systems will also increase in the coming years as the number of cases related to vehicle thefts and unauthorized use of vehicles by ineligible or underage drivers have been on the rise in recent years.
Advancements in MEMS and Smart Sensor technologies, which have rendered sensors smaller, smarter, and more reliable and efficient than conventional sensors will boost market opportunities. Smart automotive sensors will especially benefit from growing rising emphasis of automotive manufacturers on reducing size and weight of their vehicles to cut down fuel consumption and emissions, and the resulting drive towards minimizing the weight and dimensions of individual electronic components.
As stated by the new market research report on Automotive Sensors, Europe represents the largest regional market worldwide. Asia-Pacific represents the fastest growing market with market revenue in the region trailing a CAGR of 7.8% over the analysis period. Although having its fair share of challenges, automotive manufacturing in Asia-Pacific continues to remain steady, thereby fuelling market prospects for automotive sensors in the region. The region’s status as a manufacturing hub with several global automotive manufacturers setting up their manufacturing facilities in low cost destinations such as China and India, also makes Asia-Pacific a lucrative market for automotive sensors.
Major players covered in the report include Allegro MicroSystems LLC, Analog Devices, Inc., Aptina Imaging Corporation, Bourns, Inc., CASCO, Continental AG, CTS Corporation, Custom Sensors & Technologies, Inc., Delphi Corporation, Denso Corporation, Freescale Semiconductor, Inc., General Electric Company, Hamamatsu Photonics KK, Hamlin Electronics, Hella KGaA Hueck & Co., Hitachi Automotive Systems, Ltd., Infineon Technologies AG, Kistler Group, Melexis Microelectronic Integrated Systems, Micralyne, Inc., NGK Spark Plugs USA, Inc., NXP Semiconductors N.V., Novotechnik U.S., Inc., Omron Corporation, OSRAM Opto Semiconductors GmbH, Robert Bosch GmbH, Sensata Technologies, SSI Technologies, Inc., TRW Automotive Holdings Corp., and TT electronics plc, 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, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America).
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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.
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