Automotive Sensors Global Market to Reach $30 billion by 2020 while MEMS accounts 15%
Monday 19 Aug 2013
Industry Experts has today released the new market report on Automotive Sensors. With a special focus on MEMS sensors market, the report reveals that the global market for automotive sensors is projected to reach just over US$30 billion by 2020 while MEMS accounts for 15% of the total market in the same year.
Automotive Sensors are vital components of automotive electronic systems, as modern vehicles rely on these electronic systems to make sure vehicles meet efficiency and security standards as well as environmental regulations. Driven by government regulations of safety and emissions, introduction of high-end options in modern vehicles by major automobile manufacturers and consumer demand for safety, comfort, infotainment applications and fuel efficiency, automotive electronics content per vehicle is on the rise. As the electronics content is increasing in automobiles, the number of automotive sensors used in vehicles is also increasing.
Primarily, the government regulations in North America, Europe, Japan, China and South Korea, driving demand for automobile safety features that ranges from passive to integrated active and passive safety systems. These developments are driving increased demand for applications such as tire pressure monitoring, electronic stability control, occupant detection and advanced driver assistant systems. Also, the number of electronic components in engine management, fuel efficiency, occupant comfort & convenience applications and infotainment systems are increasing. In addition, the use of networking in automotive applications continues to increase as various subsystems communicate within vehicle and with the external devices and networks. Driven by these advancements in automotive industry, the global market for automotive electronics, estimated at US$191.3 billion in 2013, is further projected to reach US$314.4 billion1 by 2020, thereby maintaining a CAGR of 7.3% between 2012 and 2020. (Source: Global Automotive Electronics Market, Industry Experts)
Overall, the major driving forces for increased demand for automotive sensors in vehicles include regulatory mandates for improving fuel economy and stringent emission standards as well as requirements for advanced safety systems. The growth is also attributed by consumer demand for safety & security, comfort & convenience features and the growth of hybrid and electric vehicles which is creating enormous opportunities for new types of sensors in automobile industry. Automotive Sensors market worldwide, standing at US$16.2 billion in 2012, estimated to be US$17.4 billion in 2013 and forecast at US$18.8 billion in 2014, is further projected to reach US$30.3 billion by 2020, thereby posting a CAGR Of 8.2% between 2012 and 2020.
Automotive sensor product segments analyzed in this study include position sensors, pressure sensors, speed sensors, oxygen sensors, accelerometers, rollover sensors, yaw rate sensors, temperature sensors, mass airflow sensors and other automotive sensors. Automotive sensors market is also analyzed by automotive end-use application area including powertrain, chassis, safety & security, body, communication & navigation and other automotive applications. Further, this report also focuses on automotive MEMS sensors market analyzed by product segments including MEMS pressure sensors, MEMS accelerometers, MEMS gyroscopes, MEMS flow sensors and other MEMS sensors; and by end-use applications comprising powertrain, chassis, safety & security and other applications.
The report reviews, analyses and projects the automotive sensors market for global and the regional markets including North America, Europe, Japan, Asia and Rest of World. The regional markets further analyzed for 14 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, Spain and The United Kingdom; Japan; Asia – China, India and South Korea; Rest of World – Brazil and Turkey.
This 448 page global market report includes 206 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. The statistical tables represent the data for the global market value in US$ by geographic region, product segment and end-use application. This report profiles 49 key global players and 97 major players across North America – 39; Europe – 35; Japan – 16; Asia – 5 and Rest of World - 2. The research also provides the listing of the companies engaged in manufacturing and supply of automotive sensors. The global list of companies covers addresses, contact numbers and the website addresses of 200 companies.
Hyderabad, India based Industry Experts is a multi industry focused business information provider.
For more details, please visit https://industry-experts.com/verticals/automotive/global-automotive-sensors-market-with-special-focus-on-mems-sensors.html