Global Automotive Displacement Sensor Market 2017-2021
About Automotive Displacement Sensor
A sensor is a device that detects an input and responds accordingly. It is designed to identify changes in the external environment, which can be chemical, physical, or any other process changes. The working principle of automotive sensors is that they send out electronic signals, which are measured, recorded, and responded to accordingly. Different types of sensors such as pressure, wheel speed, temperature, position, displacement, fluid level, and emission sensors are used in automotive applications.
Technavio’s analysts forecast the global automotive displacement sensor market to grow at a CAGR of 6.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive displacement sensor market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Displacement Sensor Market 2017-2021
Technavio recognizes the following companies as the key players in the Global Automotive Displacement Sensor Market: Bosch, FTE automotive, KEYENCE, MICRO-EPSILON, and OMRON.
Other Prominent Vendors in the market are: Capacitec, LORD Microstrain, MTI Instruments, Lion Precision, Infineon Technologies, ZF Friedrichshafen, and CTS.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for Hall effect sensors. Traditional magnetic sensors cause the device to wear out within a short period. Owing to their low reliability, they have been replaced by Hall effect sensors. These sensors are gaining popularity among OEMs due to their ability to detect the magnetic field near them and longer life cycle of operation. They are the most used position sensors, where the output of the magnetic field density exceeds a certain threshold.”
According to the report, one driver in the market is rising demand for non-contact displacement sensors. The non-contact sensing technology has been widely adopted by many end-user markets such as automotive, medical, and aerospace industries. With advancements in technology, customers are seeking accurate, reliable, and durable sensors. However, the growth of non-contact displacement sensors has challenged the market for contact sensors. Although contact sensors are cost-effective, non-contact sensors are more durable and accurate in terms of measurement. Non-contact displacement sensors also overcome the shortcomings of contact type sensors such as variation in measurements, quick wearing of sensors, and restricted target motion.
Further, the report states that one challenge in the market is cost pressures on automotive OEMs. The demanding consumer base and regulatory governments have led to a dynamic cost structure, which presents as a major challenge for automotive OEMs. Environment and safety standards are pressurizing OEMs to include these safety systems in vehicles, thus adding to their costs. To comply with the US CAFÉ standards (effective from 2016), the manufacturing costs have increased by $1,000. However, OEMs are trying to incorporate several new drivetrain technologies in safety systems and comply with lower emission standards. The dynamism in emission standards will increase the costs in R&D and production process.
Bosch, FTE automotive, KEYENCE, MICRO-EPSILON, OMRON, Capacitec, LORD Microstrain, MTI Instruments, Lion Precision, Infineon Technologies, ZF Friedrichshafen, and CTS.