Global Automotive Sensors Industry
A system which measures any physical, temperature and chemical change in an automotive and sends signals for further analysis can be defined as an automotive sensor. Increased emphasis on efficient fuel-efficient cars as well as technological enhancement in body electronics has led to the increase in demand for automotive sensors. These sensors enable in making the driving comfortable and also save energy. The driverless cars also known as autonomous cars works on the basis of sensors only, hence finds an opportunity in the near future. The global automotive sensors market is expected to grow at a CAGR of 8% during 2018-2023. The major factor that augment the global automotive sensor market is rising sales of automotive. The global automotive sensor is segmented on the basis of sensor type, vehicle type and component.
Geographically market is divided into North America, Europe, Asia Pacific and Rest of the World. APAC region is growing with a significant growth and may dominate the overall global automotive sensor market. The promising economic growth potential in emerging countries such as China and India are responsible for augmenting the demand for commercial vehicle in this region. This increase in the demand for commercial vehicles will induce numerous vehicle manufacturers to establish their manufacturing units in APAC. The manufacturer’s increasing investments in technology and modern mass production systems will aid in the growth of the global market in the forecasted year. North America region is following the APAC region in terms of growth. North American automotive sensor market is growing owing to the expanding popularity and demand for electronically connected automotive, huge investment in the self-driving vehicle and high sales of luxurious and commercial vehicles. Europe is also expected to show a significant growth rate in the near future. The revision in vehicle safety system regulation, safety features such as tire pressure management system, driver attention detection, advanced braking system, and seatbelt reminders have become necessary for automotive manufacturers to sell their product in the European region.
The key players in the global automotive sensors market include Autoliv Inc., Bosch GmbH, Bourns Inc., Continental AG, Delphi Automotive Plc., Denso Corp, Elmos Semiconductor AG, General Electric Co., Honeywell International Inc., Velodyne Lidar and so on. Partnership, R&D, M&A, Product launch are the key strategy adopted in the automotive sensors market.
Research Methods and Tools
Key points considered for deriving the numbers
To derive the number, the market is analysed by different approaches. Method opt for deriving the numbers include annual vehicle sales data, analysis of the annual report of the company, geographical location of the major market player, average cost of the sensors at the regional level, government initiatives, rules and incentives toward particular sensor is studies. Annual reports of the companies provide deep knowledge about the revenue in a particular region and other prospects. Furthermore, an overview of dominating and fastest growing segment market share is also derived on the basis of information provided by annual reports of the company. Beside this, geographical locations of major market player are analysed. Expansion or acquisition of manufacturing unit in a particular region has been taken into consideration. The US, European countries, China, India, Japan, South Korea are the major location taken in to consideration.
Global Automotive market is segmented on the basis of regional outlook and following segments:
1. Global automotive-sensors-market Research and Analysis, By Sensor Type
2. Global Automotive Sensor Market Research and Analysis, By Vehicle Type
3. Global Automotive Sensor Market Research and Analysis, By Vehicle Component
4. Global Automotive Sensor Market Research and Analysis, By Region
OMR REPORT COVERS
• Comprehensive research methodology of Global Automotive Sensor Market.
• This report also includes detailed and extensive market overview with key analyst insights.
• Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Global Automotive Sensor Market.
• Insights about market determinants which are stimulating the Global Automotive Sensor Market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.
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