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Automotive Sensor Module Market Lucrative Opportunity by 2024
Further, the cover includes wiring units, these wires are attached with connector to the sensors. The wiring includes a second connector terminal, which is again integrated with the first connected terminal.
The automotive sensor module includes a wide range of application in the vehicle. Some of the key application for the automotive module includes accurate real-time monitoring.
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This enables the vehicle engine to operate with enhanced efficiency with lesser emission of toxic gases from the vehicle. A key challenge faced by the automotive sensors module manufacturer is developing robust and reliable sensor modules which can operate with high rate of accuracy under harsh chemical, physical and electrical stress conditions.
Further key players operating in the automotive sensor module market are working on developing built in diagnostic feature to support maintenance on demand.
This would support failure mode operation which is required for application which is critically required in safety feature like antilock braking, monitoring tire pressure and enable functioning of airbags at the time of impact.
Some of the key factors driving the automotive sensor module market involve growing demand for electric vehicles over traditionally used petroleum fueled vehicles. There is greater application of automotive sensor modules than traditional fueled vehicles.
Moreover, growing concern for safety of passengers traveling in the vehicle is expected to drive the demand for automotive sensor module market. The sensor module helps in monitoring, collection of data and act according.
A key restrain in the growth of the automotive sensor module market include the smooth functioning of sensor module under harsh environments. Further durability and longevity of the automotive sensor module are factors restraining the market growth.
The automotive sensor module market segmented by restrain type could be segmented into chemical and physical restrain type. The automotive sensor module by chemical segment could be further segmented into humidity and corrosion.
The physical restrain segment in the automotive sensor module market segmented by restrain type could be further segmented into shock and vibration.
Moreover, the automotive sensor module market by application can be segmented into speed sensors, hall position sensors, temperature sensors, pressure sensors, impact sensors and combined sensor modules. The temperature sensor module and speed sensor module led the automotive sensor module market in 2015.
The growth in demand for the above mention two applications is attributed to the growth in demand for latest automotive features like climate control and abs systems and other safety features which require speed sensors.
Further, growing importance of latest safety features like air bags and automatic braking systems in times of impact or accident has led to growth in demand for automotive sensor modules over the recent past.
Further, most government regulatory bodies across the globe are making basic safety features mandatory thus driving the market.
Geographically the automotive sensor module market could be segmented into Europe, North America, Asia Pacific, Middle East and Africa and South America. North America currently led the automotive sensor module market in terms of revenue.
Europe followed North America in the automotive sensor module market. Asia Pacific automotive sensor module market is expected to grow at the fastest rate over the next few years.
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New manufacturing facilities of major automotive OEMs in the region due to availability of cheap labor and raw material is expected to drive the market growth in the region.
The key players operating in the automotive sensor module market include Delphi Automotive plc, Continental AG, NXP Semiconductors, Denso Corp., Infineon Technologies AG.
Some of the other major vendors operating in the automotive sensor module market include Heraeus Sensor Technology, First Sensor, SHINYEI Technology and National among others.
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