Automotive Sensors Market

Posted by Abhijeet Bendre on September 23rd, 2019

Market Research Future published a Cooked research report on “Global Automotive Sensors Market Research Report - Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Automotive Sensors Global Market – Overview

The Global Automotive Sensors Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Automotive Sensors will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).

The Automotive Sensors market is completely dependent on the automotive industry. Thus the increasing or decreasing demand of the automotive industry directly has an impact on the Automotive Sensors market. The total four-wheeler production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2020. This results as a primary factor driving the Automotive Sensors market as the interiors of automobiles have gained prevalence in recent times with technological development and rapidly increasing disposable income among the consumers. Thus the growth of the Automotive Sensors is expected to go hand in hand with the automotive industry.

The automotive industry is a capital-intensive industry. The dynamic business environment and cutthroat competition in the industry constantly requires influx of capital to update their technology to cope with increasing incidence of customization by the consumers. Development of hybrid vehicles, aesthetic features and safety features require constant research & development support thus resulting in extensive capital investment at a constant rate. Such cut throat competition in the automotive industry requires massive investments at a regular basis, thus the high capital investment in the Automotive Sensors market is expected to act as a hurdle in the growth, due to significant entry barriers for new player which is expected to have a negative impact on the Automotive Sensors market.

In automotive industry, consumer preferences are continuously changing. Across the world, the demand for various factors such as high performance, high efficiency, increased safety, and security are increasing for different automotive applications. At the same time, when it comes to the actual purchase of a vehicle, consumers prefer a model having all of the above-mentioned parameters but preferably at a lower cost (price). Due to changing consumer needs across global markets, rapid technological advancements are taking place in Automotive Sensors industry to introduce differentiate products. While considering the above improvements, product pricing (low cost) is given a prominent weightage during initial development phase. This is a big challenge for the manufacturers as a lot of research and development (R&D) activities go into the new product development phase, which requires huge investments.

With the global economy undergoing an unprecedented level of shift, major emerging countries such as China, India, Thailand, Indonesia, and others are becoming manufacturing hubs for global automotive players. As a result of increasing prosperity in the emerging economies, people are increasingly able to afford their own car, particularly in emerging Asian economies such as China and India. In order to tap these rising consumer automobile preferences, leading global automotive players such as Volkswagen, BMW, Toyota, and Ford are entering into new emerging markets for business expansion. As the global auto-manufacturers continue to expand into growing and emerging markets, the demand for Automotive Sensors and others will also rise.

Key Players:

Analog Devices Inc. (US), Avago Technologies (CA), Bosch Sensortec (Germany), Bourns (CA), CTS Corporation (US), Denso Corporation (Japan), Gill sensors & controls (UK), Delphi automobile (UK) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive Sensors Market.

Automotive Sensors Market Segmentation:

The Global Automotive Sensors Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Sensor Type: Comprises Temperature, Motion, Pressure, Gas, Optical.

Segmentation by Method: Comprises MEMS, NMEMS

Segmentation by Application: Comprises Automobile, Body electronics

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Automotive Sensors Market: Regional Analysis

The global Automotive Sensors, by region, has been segmented into the four major regions of North America, Europe, Asia Pacific and Rest of the World. Over the last couple of years, the automotive industry has flourished globally, with several technologies emerging in the market. Geographically, Asia Pacific region has been the largest market for automotive exhaust in 2016, followed by North America and Europe. Asia Pacific region has registered the fastest growing region due to the presence of emerging economies such as China, India, South Korea, and Japan. Moreover, several automotive giants have been focusing on this region mainly due to the abundant demand for passenger as well as commercial vehicles, and have therefore planned to expand their operations in the Asia Pacific region. By the end of forecast year, the global market is expected to witness cut throat competition between North America and Europe, in terms of revenue and market share.

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