Automotive Position Sensors Market 2020: Business Trends, COVID – 19 Outbreak, Competitor Strategy, Global Segments, Industry Profit Growth, Landscape and Demand

Market Research Future (MRFR) predicted in the report that “Automotive Position Sensors Market” would cross USD 2 Billion at a CAGR of 8% by 2022. The global market is expected to show significant changes in the industry. Various factors like the development of top-class technologies and its easy inclusion in the mainframe, investment opportunities to boost the research segment, participation of eminent players, and stringent regulations to boost the security are expected to make sure that the market witnesses’ proper growth.

Segmentation:
The automotive position sensor market has been studied by MRFR experts on the basis of a segmentation that includes type and vehicle type. These segments and the inputs gleaned from it can help the market players in coming up with innovative strategic mechanisms.

By type, the global market study on the automotive position sensor market has been segmented into multi-axis, angular, and linear.

By vehicle type, the study of the automotive position sensor market includes a study of high end, mid end, low end and electric. The electric vehicle sensors are expected to outpace others by clocking a CAGR of 22.2% during the forecast period. The segment is getting traction as the rising environmental concerns are boosting the uptake of such cars.

Competitive Landscape:
Avago Technologies, Analog Devices Inc, Bourns Inc, Continental Corporation, Bosch Sensortec GMBH, Delphi Automotive, CTS Corporation, GE Measurement & Control Solutions, Denso Corporation, Hella KGAA, Infineon Technologies, NXP Semiconductors, Gill Sensor& Control, TRW Automotive INC, Sensata Technologies, Stoneridge INC., are some companies making a notable impact on the global automotive position sensors market. These companies have a lot of strategic mechanisms in the market at play that can cement the market stand of these companies and ensure the furthering of the global market. MRFR analysts have collected information on these strategic tools to gauge the market better and know how the market is going to place itself in the coming years.

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Regional Analysis:
The technological brilliance of Europe and North America and a surge in the adoption of electric cars are expected to set the automotive position sensor market on an upward trajectory. The burgeoning automotive sector of Asia Pacific would also assist the automotive position sensor market growth.

Industry News:
In August 2020, Allegro MicroSystems (Allegro), an eminent company in the field of sensing and power semiconductor technology, announced they had acquired Voxtel, Inc, a company with specialized knowledge of advanced photonic and 3D imaging technology. This also includes an understanding of long-range, eye-safe Light Detection and Ranging (LiDAR). This acquisition would ensure a merging of Voxtel’s laser and imaging expertise with Allegro’s automotive leadership. This will help the company in enabling the next generation of Advanced Driver Assistance Systems (ADAS). This blend is expected to ensure a strong foothold for Allegro in the automotive sector.

The global market for automotive position sensors may find conditions a bit adverse at present for growth due to the crises triggered by the COVID-19 pandemic. The automotive sector took blows as lockdowns halted the production of vehicles and disrupted the supply chain in significant ways. As an associated market, the automotive position sensors market is also expected to get affected. However, governments are taking measures to reduce the impact of financial pressure, which might bring the global market on its foot again.

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Major Highlights of TOC Covers:
1. Executive Summary
2. Key Business Trends
3. Regional Trends and Growth
4. Product Trends
5. End-use Trends
6. Definition and Forecast Parameters
7. Automotive position sensors Market Segmentation
8. Automotive position sensors Market Landscape
9. Vendor Matrix
10. Company Profiles
11. Business Overview
12. Financial Data
More…

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This release was published on openPR.