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North America Automotive Sensors Market 2020 Thriving Worldwide With Renowned Key Players Analog Devices Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, Infineon Technologies, and Robert Bosch GmbH among others

11-11-2020 03:38 PM CET | Tourism, Cars, Traffic

Press release from: Premium Market Insights

North America Automotive Sensors Market

North America Automotive Sensors Market

The North America automotive sensors market accounted for US$ 1.63 Bn in 2018 and is expected to grow at a CAGR of 5.7% over the forecast period 2019-2027, to account for US$ 2.66 Bn in 2027. The automobile manufacturers worldwide are experiencing significant demand for vehicles ranging from passenger vehicles, LCV, and HCV. The constant pressure on automobile manufacturers to deliver a large number of vehicles to meet consumer demand is catalyzing the production statistics of vehicle manufacturing. With the increase in automobile manufacturing, the need for advanced technologies integrated on to the vehicles is simultaneously increasing among the end users.

This factor has created a potential market space for various types of semiconductors. In the current automotive market, major manufacturers are integrating their vehicles with technologically enhanced sensors, to improve the safety of the vehicles. The demand share of technologically robust semiconductor components in the automotive industry is majorly among the passenger car segment, followed by the commercial vehicle segment. The increasing demand for the integration of advanced technologies in the automotive sector is influencing the North America automotive sensors market.

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Key Players:
Analog Devices Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, Infineon Technologies, and Robert Bosch GmbH among others.

North America, automotive sensors market, is fragmented with the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the North America automotive sensors market. For instance, the governments of the US, Canada, and Mexico have taken various measures to promote and attract investments in its automobile component manufacturing industry. For instance, Automobile Innovation Fund Program, introduced in 2008, supports the automotive firms by providing them funds in the field of R&D to build innovative technologies that enhance the fuel efficiency of the vehicles.

The US Government has implemented the Greenhouse Gas (GHG) regulations, which facilitates in reducing the fuel consumption pattern and CO2 emission, thereby leading to a clean environment in the region. It is noted that fuel-efficient vehicles have driven the demand for semiconductor content in cars; this factor is aiding the increasing demand for automotive sensor market. Thus, the initiatives undertaken by the government has a positive impact on the growth of the North America automotive sensors market. These initiative provide various benefits to the US-based companies located in the region, thus, supporting the growth of North America automotive sensors market. Companies operating in the North America automotive sensors market are focusing on providing advanced solutions to gain a substantial share of the North America automotive sensors market.

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The research provides answers to the following key questions:
1. What is the estimated growth rate of the market for the forecast period 2021–2027? What will be the market size during the estimated period?
2. What are the key driving forces responsible for shaping the fate of the Automotive Sensors market during the forecast period?
3. Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Automotive Sensors market?
4. What are the prominent market trends influencing the development of the Automotive Sensors market across different regions?
5. What are the major threats and challenges likely to act as a barrier in the growth of the Automotive Sensors market?
6. What are the major opportunities the market leaders can rely on to gain success and profitability?

Sameer Joshi
Call: US: +1-646-491-9876, Apac: +912067274191
Email: sales@premiummarketinsights.com

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