The Global Automotive Sensor Market size is expected to reach USD 36.76 billion by 2022, according to a new study by Grand View Research, Inc. Favorable government regulations for increasing overall passenger security and safety is expected to augment market demand over the forecast period. These products have become an important part of automobiles, and detect physical parameters such as speed and heat and take preventive measures in case of any danger.
Growing consumer adoption of electric, hybrid and hydrogen fuel-cell-powered motor vehicles is expected to drive demand for battery monitoring. Image sensor-based ADAS systems have become essential for tracking and identifying potential hazards. Additionally, rising number of autonomous vehicles in yielding lower fuel consumption and reduced traffic congestion features in developing countries such as Japan and China is expected to favorably impact the automotive sensor market. Demand for retrofitting of advanced systems into the existing motor vehicle fleet is also expected to augment demand.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-sensors-market
Further key findings from the study suggest:
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Advanced proximity and positioning sensors help
remotely determine the location of an object, and this segment is expected to
grow at a CAGR of over 11.0% from 2015 to 2022. These products include radar,
infrared, ultrasonic, and laser devices, and are finding application in
detection of objects around vehicles in addition to occupancy sensing.
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Sensors used for safety and security
applications monitor wheel speed, occupant position tire inflation, etc. For
instance, Jaguar F-type uses these products for blind spot monitoring and close
vehicle sensing designed to alert the driver about the presence of another
vehicle in an adjacent lane by providing a visual warning indicator in the
door’s mirror.
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Asia Pacific is expected to remain the leading
regional market through the forecast period. The North American automotive
sensor market is characterized by the presence of a stringent regulatory
landscape. The U.S. NHTSA is attempting to control driver support technologies
and direction of automotive collision avoidance. The government is expected to
mandate fitment of V2V safety technology in future cars. In addition, the U.S.
Association of Automobile Manufacturers (AMM) is expected to leverage rear-view
camera and removing side-view mirrors, which can reduce noise and fuel
consumption. Outsourcing of manufacturing process to low-cost countries like
Mexico, China, Bulgaria, Malaysia, India or the Dominican Republic due to high
labor costs in the U.S. is a key industry trend.
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Major industry participants such as Bosch focus
on research and development to ensure product differentiation. The company’s
R&D efforts have focused on development of efficient methods for ensuring
reliability, precise 3D environment recognition, and securing the electronics
architecture through constant plausibility checks on the data supplied. Other
key players such as Freescale, Sensata, and Denso Corporation provide products
that cater to a wide range of applications, such as ADAS, body electronics,
chassis and safety, etc.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/sensors-and-controls
For the purpose of this study, Grand View Research has segmented the automotive sensor market on the basis of product, application and region:
Automotive Sensor Product Outlook (Revenue, USD Million, 2012 - 2022)
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Physical Property
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Process Variable
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Proximity & Positioning
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Chemical Property
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Others
Automotive Sensor Application Outlook (Revenue, USD Million, 2012 -
2022)
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Engine & Drivetrain
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Safety & Security
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Emission Control
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Others
Automotive sensor Regional Outlook (Revenue, USD Million, 2012 -
2022)
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North America
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Europe
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Asia Pacific
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Latin America
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MEA
For press release of this report - http://www.grandviewresearch.com/press-release/global-automotive-sensors-market
