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Automotive Position Sensors Market Segments, Opportunity, Growth And Forecast By End-Use Industry -2022
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Key Players
Some of the key players in the Automotive Position sensor market are Analog Devices Inc, Avago Technologies, Bosch Sensortec GMBH, Bourns Inc, Continental Corporation, CTS Corporation, Delphi Automotive, Denso Corporation, GE Measurement & Control Solutions, Gill Sensor& Control, Hella KGAA, Infineon Technologies, NXP Semiconductors, Sensata Technoliges, TRW Automotive INC, Stoneridge INC.
Thus the Automotive Position Sensor Market is expected to register a high growth at a rate of around 8% and reach USD 2 billion by 2022.
Market Scenario
The growth in the Automotive Industry directly translates into increasing demand in the Automotive Position Sensor market. Recent trends in the automotive industry with rapid technological development and revolutionized automotive industry through automation and digitization is going to provide ample opportunities for growth and development. The changing focus of the Automotive Industry to technological trends such as autonomous driving, connectivity and electrification is expected to boost the demand in the Automotive Position Sensors market. Increasing integration of position sensors in vehicles portray a positive outlook of continuous growth in the Automotive Position Sensor market. Stringent Government regulations regarding automobile safety and increasing global car production at a rate of 4% have also significantly contributed to the growth of this market.
Segments
The Automotive Position Sensor market has been segmented on the basis of type as Multi-axis, Angular, and Linear. On the basis of Vehicle type the market has been segmented as High end, Mid End, Low End and electric.
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Regional Analysis of Automotive Position Sensors
Europe and North America has been the leading regions for the Automotive Position Sensor market mainly due to the existence of various major players in this region. With rapid technological development the Position sensor market in this region is expected to show high growth. Asia-Pacific is another region which is showing high potential mainly due to the increase in the number of passenger vehicles in this region.
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