The latest report on Automotive Sensors Market by Infinium Global Research gives complete coverage of the automotive sensors market by type (temperature, pressure, speed, level/position, magnetic, gas and inertial), application (powertrain, body electronics, vehicle security systems, and telematics) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and application trends in the regional markets of automotive sensors such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Automotive Industries are Constantly Increasing the Use of the Electronic System to Improve Passenger Comfort
Automotive sensors are used to monitor, control and detect data for better performance, safety, comfort and convenience related to vehicles. There are various types of sensors are used in the automotive sectors which include the temperature sensor, knock sensor, the acceleration sensor, airflow sensor, parking sensor, MEMS sensor, motion sensor, gas sensor, pressure sensor. These automobile sensors have several applications such as brake master cylinder position detection, minimize fuel consumption, all gear detection for the manual transmission to support start and stop function and prevention windscreen fogging, and energy management.
The automotive industries are constantly increasing the use of the electronic system to improve passenger comfort and improve vehicle performance, which has a positive impact on the automotive sensors market. According to the world health organization, over 3400 people die on the world’s roads every day and tens of millions of people are injured or disabled every year. Strict government rules and regulation related to passenger safety and rapidly growing adoption of advanced driver assistance system (ADAS) in new vehicles is anticipated to boost the growth of the automotive sensors market.
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A rise in Purchasing Power Parity is Some of the Factors Escalating the Growth of the Industry
The various types of sensors are used in the ADAS system are adaptive cruise control (ACC), blind-spot detection, traffic sign recognition and, lane departure in the vehicle which facilitates the extensive use of the automotive sensor. However, the pricing pressure among key players may hamper the growth of the automotive sensors market. Furthermore, raising awareness related to the new automotive sensor such as cameras, radar, and Lidar, Innovation of new products and up-gradation of existing sensors to meet customers’ requirements are anticipated to create growth opportunities for the automotive sensors market.
Among the Geographies, Asia Pacific holds the maximum share in the automotive sensors market owing to the growing automotive industry and high demand for passenger cars. Growing demand for safer and comfortable vehicles and the rise in purchasing power parity are some of the factors escalating the growth of the market in the Asia Pacific region. Developing countries such as China and India have significant growth potential for the automotive sensors market. The automobile industry in China has been the largest in the world and is expected to be led worldwide over the forecast period. Growing adoption of advanced driver assistance systems (ADAS) in developed counties such as the U.S., Germany, and the U.K. are boosting the growth of the automotive sensors market.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the automotive sensors.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.