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(Chicago.CityRegions.Com, February 11, 2017 ) According to the new market research report "Automotive Sensors Market by Type (Temperature, Pressure, Position, Oxygen, NOx, Speed, Inertial, and Image), Application (Powertrain, Chassis, Exhaust, Body Electronics, Safety & Control, and Telematics), and Geography - Global Forecast to 2020", the market is estimated to reach USD 30.90 Billion by 2020, at a CAGR of 7.72% between 2015 and 2020. The increasing adoption of automotive sensors to meet strict government regulations on safety, efficiency, and driver assistance and increasing vehicle electrification are the major drivers for the automotive sensors market.
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Image sensors are expected to grow at the highest CAGR between 2015 and 2020
The market for image sensors is expected to grow at the highest CAGR during the forecast period. Image sensors are being increasingly utilized in ADAS, parking assistance (APA), lane departure warning (LDW), collision avoidance systems, and other safety applications; the demand for image sensors is expected to grow rapidly. Governments around the world, such as European and U.S. governments, have tightened the norms for safety which is likely to boost the market further.
Powertrain application is expected to lead the automotive sensors market
Automotive sensors are primarily used in the powertrains, and currently, it holds the leading position in the overall market. The application in the automotive sector accounted for the largest share in 2014. Powertrain sensors play an important part in lowering emissions and improving fuel economy and have dominated the powertrain application of the automotive sensors market.
Asia-Pacific is expected to hold the largest market share and witness rapid growth during the forecast period
Asia-Pacific accounted for the largest share of the automotive sensors market in 2014; the market in the region is expected to grow at the highest CAGR during the forecast period. The market in the region is likely to be driven by higher vehicle production in the region and demand for more efficient and safer vehicles than the existing vehicles.
Major players in this market include Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Delphi Automotive PLC (U.K.), Autoliv Inc. (U.S.), Sensata Technologies, Inc. (U.S.), Infineon Technologies AG (Germany), Freescale Semiconductor Ltd. (U.S.), and STMicroelectronics N.V. (Switzerland) among others.
This research report categorizes the global automotive sensors market based on type, application, and region. This report describes the drivers, restraints, opportunities, and challenges for the growth of the automotive sensors market. The Porterís five forces analysis has been included in the report with a description of each of its forces and their respective impact on the automotive sensors market.