Press release
Rising Incomes of People Driving Automotive Sensors Market
Sensors are finding increasing applications in all kinds of automobiles these days to detect, analyze, and transmit information about the vehicle’s performance and its surroundings. They are used in wipers, sunroof, lighting dashboard, seat, parking, climate, tail gate release, tilt alarm, trailer management, tailgate close, anti-theft alarm, rear door, radio, and other things. A report on the automotive sensors market by MarketResearchReports.biz is titled, “Automotive Sensors Market - Global Industry Analysis and Forecast to 2020,” finds that it would rise steadily over the course of next few years because of the rising sales of automobiles.
With rising incomes of people worldwide owing to economic development, the automotive sensors market is getting a boost. This is because it enables them to purchase highly automated vehicles, two-wheelers or for-wheelers, which are easier and safer to drive and accord a lot of comfort. Emergence of hybrid and semi-hybrid vehicles, electric vehicles, and advance driver assistance systems (ADAS) is also providing a fillip to the automotive sensors market.
Apart from that, the automotive sensors market is also being boosted by constant thrust on research and development which is inundating the market with a range of sophisticated automotive sensors that have varied features and functionalities. Some such products include wireless sensors, micro-electro-mechanical systems, and radar sensors. Smaller size and lower cost of sensors are promoting their adoption big time. Thrust on safety of passengers and framing of laws by governments in this direction is another factor serving to boost the automotive sensors market.
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As per BMW, the German automotive giant, 90% of the future car innovation will be focused on the advanced and efficient use of electronics in automotive. This is already palpable in the uptake of automotive sensors technology that can bring about battery control, emission control, and occupant detection. The report classifies the automotive sensors being sold in the market into temperature sensor, pressure sensor, speed sensor, O2 sensor, position sensor, inertial sensor, Nox sensor, and image sensor, among others.
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Some of the key application areas of automotive sensors are chassis, powertrain, exhaust, body electronics, safety and control, and telematics, among others. From a geographical standpoint, North America currently leads the automotive sensors market with maximum share. This is because of the large-scale manufacture of advanced automobiles in the region. It is trailed by the Europe automotive sensors market, which is primarily driven by Germany. Asia Pacific is also proving to be an attractive region which savvy manufacturers are betting big on. The region is expected to record stellar growth in the next couple of years mainly due to India and China markets.
Some of the prominent companies operating in the global automotive sensors market are Vanderlande Industries, Dematic, SSI Schaefer, Daifuku, Dearborn Mid-West Company, BEUMER, and FlexLink.
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