Press release
Automotive Sensors Market driven by the proliferating logistics industry
According to the research report, the global automotive sensors market was valued at US$20.2 bn in 2014 and is expected to expand at a CAGR of 8.7% from 2015 to 2021 to reach an estimated value of US$33.3 bn by 2021. The significant growth of the global automotive sensors market in the coming years will largely be attributable to the strict government regulations pertaining to emission norms and safety of the driver.
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The global automotive sensors market is segmented on the basis of type, component, and geography. The types of automotive sensors sold in this market are pressure sensors, temperature sensors, motion sensors, gas sensors, and MEMS sensors. The components of the global automotive sensors market are body electronics, powertrain, chassis, and safety and control. Geographically, the global automotive sensors market is divided into Europe, North America, Asia Pacific, and Rest of the World.
Out of all the types of automotive sensors in the market, the micro-electro-mechanical (MEMS) sensors segment held the biggest share due to growing demand for electronic stability programme (ESP), vehicle dynamic control (VDC), and anti-lock braking system (ABS) in emerging economies of Asia Pacific. Amongst the components, the powertrain segment held the dominant share in the global automotive sensors market. Automotive sensors are also used in climate control, airbag restraint systems, engine management systems, power steering systems, crankshaft position sensors, and camshaft position sensors.
Geographically, Europe led the global automotive sensors market in 2014. This growth was mainly driven by the proliferating logistics industry, along with rising awareness about safety. The Europe market is also being led by the introduction of low-emission zones (LEZs) in the European Union, which is encouraging the usage of hybrid electric vehicles (HEVs). Analysts also predict that Asia Pacific will be an attractive market for automotive sensors as governments in several countries are pushing for driver safety features to be installed in automobiles.
Some of the important players in the global automotive sensors market are Infineon Technologies AG, Continental AG, Denso Corporation, Sensata Technologies Inc, Robert Bosch, Autoliv Inc., and Freescale Semiconductor Inc. The report offers an insightful take on the competitive landscape of the global automotive sensors market. By assessing the financial status, research and development activities, product portfolio, and business and marketing strategies of these companies, the report presents a fair case of the intensity of competitive rivalry in the global automotive sensors market.
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