Automotive Sensors Market: Revenue Growth Strategies by Major Industry Players: Robert Bosch, Denso Corp, Valeo, Delphi Automotive, Hitachi Appliances Inc, Continental AG Corp, Sensata Technologies Inc., Infineon Technologies AG, Autoliv Inc., NXP semicon
The key players in the automotive sensors market are focused on expanding their business operations in the fast-growing emerging countries with new product launches as a preferred strategy. The major players profiled in this report include Robert Bosch GmbH, Denso Corporation, Continental AG Corporation, Sensata Technologies, Autoliv Inc., Infineon Technologies, Delphi Automotive LLP, Freescale Semiconductors, Analog Devices Inc. and Asahi Kasei Corporation.
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o The study provides an in-depth analysis of the global automotive sensors market to elucidate the prominent investment pockets in the market.
o Current trends and future estimations have been outlined to determine the overall attractiveness, and to single out profitable trends to gain a stronger foothold in the market.
o The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.
o The market is analyzed based on various regions namely, North America, Europe, Asia-Pacific, and LAMEA.
Automotive sensors market is segmented on the basis of type, application and region.
The market also analyzes on the basis of various geographies, which include North America, Europe, Asia-Pacific and LAMEA. North America is further sub segmented into U.S, Canada, and Mexico. Europe covers France, Germany, Italy, U.K and Rest of Europe. The countries covered in Asia-pacific are China, India, South Korea, Japan, and Rest of Asia Pacific. LAMEA includes South America Middle East, and Africa.
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Increasing demand of different types of sensors, especially in autonomous cars, is expected to drive the automotive sensors market during the forecast period. Furthermore, advanced technologies such as advanced driver assistance systems (ADAS), lane departure warning (LDW) systems are likely to provide huge impetus to the market growth. Government authorities across the globe have imposed several regulations to avoid road accidents in a bid to improve the safety and security of the passengers, which would further supplement the growth of the automotive sensor market.
The powertrain segment accounted for about 53% of the overall automotive sensors market revenue in 2015. Increasing demand of powertrain market for automated transmission and high utility of lightweight materials for reducing fuel consumption are the key factors driving the usage of automotive sensors. In addition, body electronics is the fastest growing segment and is projected to register a CAGR 8% during the forecast period. This is due to the increasing use of temperature sensors in body electronics for internal and ambient temperature.
MEMS sensor segment is projected to maintain its lead in the overall automotive sensors market due to its increasing application in powertrain, safety & security, body electronics and among other. The growing demand of automotive sensors in North America and Asia-pacific have further boosted the market growth. Furthermore, temperature sensor is anticipated to exhibit the fastest growth, with a CAGR of 8.2% during the forecast period. This is owed to the heightened demand of temperature sensors in semiconductors, food & beverage and plastic industries.
Europe accounted for the majority of revenue in 2015 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increasing demand of emission control sensors (ECS) with the emergence of strict regulations such as EURO VI, NS VI and BS VI. Furthermore, European government has also tightened the rules for safety, which is likely to fuel the market in years to come.
"The ability of the automotive sensors to monitor vehicle safety, engine efficiency, driving comfort and vehicle dynamic behavior is expected to promote its demand in near future. On the other hand, the technological advancements coupled with rising hybrid & electric vehicle production is expected to open new opportunities for the market growth", states Preeti Bisht, Research Analyst, at Allied Market Research.
However, Asia-Pacific is expected to be the fastest growing region throughout the analysis period. Japan, being dominant in the Asia-Pacific especially in MEMS sensor market. This is a result of increasing spending in R&D. Also, improving automobile production and increasing expenditures in the emerging markets (such as India and China) to overcome the unmet consumer needs in these countries would bolster the market growth.
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Automotive Sensors Market Segmentation:
o Body Electronics
o Safety & Security
o North America
o Rest of Europe
o Asia Pacific
o South Korea
o Rest of Asia Pacific
o South America
o Middle East
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