November 01, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Automotive Sensors Market: Analysis By Vehicle Type (Passenger Car, LCV, HCV), By Application (Powertrain, Body and Convenience, Chassis and Safety, Body Electronics), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) -- By Region (North America, Europe, APAC, ROW), By Country (US, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea)’, the worldwide automotive sensors market is likely to register 7.2% CAGR through the year 2024.
Sensors are used in measuring, recording and detecting physical phenomena and respond by transmitting information, effecting system control or initiating changes. Automotive sensors are an integral part of vehicle systems and are designed to analyse, display and detect vehicle performance information within external and internal environment of the vehicle.
Constant development in electronics sensors technology and application, growing concern for safety, increasing demand for automation in automobiles, rise in demand for concept cars from high income customers, and growing use of sensors in semi hybrid, electric and hybrid cars are triggering the demand of automotive sensors market. However, inconsistency of aftermarket for sensors is one of the main factors hampering the market growth.
According to the report, automotive sensors market is presumed to accumulate a substantial growth with a CAGR of 7.2% by the year 2024. Moreover, the report offers a comprehensive insight about segmental growth, trends, drivers, challenges, opportunities impacting the market growth.
Automotive sensors market is examined on the basis of vehicle type, application spectrum and regional landscape. Based on the vehicle type, the market is segmented as light commercial vehicle, heavy commercial vehicles, and passenger vehicles. While speaking of the application spectrum, the market is fragmented as chassis & safety, powertrain, body electronics, body & convenience, and others.
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Considering the regional landscape, the market is divided into four main regions which are North America, Asia Pacific, Europe, and rest of the world. Moreover, Asia Pacific accounts for the largest share in the market owing to the expansion of product portfolio and manufacturing of vehicles emitting less pollution.
The prominent companies operating in automotive sensors market include NXP semiconductors, Robert Bosch GmbH, Autoliv Inc., Continental AG, ST Microelcetronics, DENSO Corporation, Infineon Technologies AG, Analog Devices, Delphi Automotive PLC, and Sensata Technologies.
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