Global Automotive Sensors Market 2017-2021
About Automotive Sensors
A sensor is an electronic device that can detect changes in an environment and sending updates to the system electronically. It can identify chemical, physical, and process-based changes. Corrective action is taken based on the information send by the sensor. The number of sensors that monitor the onboard conditions in a vehicle has increased rapidly over the years. These sensors can measure many parameters such as temperature, pressure, fluid levels, speed, acceleration, and oxygen flow.
Technavio’s analysts forecast the global automotive sensors market to grow at a CAGR of 7.08% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive sensors 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 Sensors Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive sensors market: Bosch, Continental, Delphi Automotive, DENSO, and Sensata Technologies.
Other Prominent Vendors in the market are: Autoliv, Bourns, CTS, Faurecia, GE Measurement & Control Solutions, Gill Sensors & Controls, Hamamatsu, Hitachi, Hyundai KEFICO, Infineon Technologies, Murata, NGK Spark Plug, NXP Semiconductors, Panasonic, ST Microelectronics, Stoneridge, Takata, Tenneco, Valeo, and ZF TRW.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advances in sensor types and emerging sensor applications. The applications of imaging sensors will proliferate with the advances in the design of sensors. The miniaturization of the sensor and lens may extend the scope of the application of cameras that detect and monitor in-car conditions. These cameras (along with image sensors) will likely detect different parameters to enhance the safety of the vehicle and its occupants.”
According to the report, one driver in the market is ADAS and HMI considered prime factors of product differentiation. The gamut of consumer needs and OEM offerings has widened to include safety, performance, stability, and comfort, and these parameters are being refined and improved every day. This evolution has outgrown the utility of conventional mechanical components (which lack the capabilities to solve several emerging automotive challenges). It has also led to a surge in the growth rate of the automotive electronics market, which has far surpassed growth in the overall automotive industry. The introduction of special technological features, such as human-machine interface (HMI), is the only way to showcase product differentiation.
Further, the report states that one challenge in the market is cost pressure for sensor manufacturers. Auto OEMs are subject to high cost pressure due to the dynamism in the regulatory environment. Environmental safety standards place pressure on OEMs to find the means to comply with regulations without incurring additional costs for consumers. Controlling emissions is bound to increase the vehicle cost. According to National Automobile Dealers Association, the US CAFE standards may hike the manufacturing cost of a vehicle by $1,000. In addition, OEMs need to innovate drivetrain technologies to meet emission standards. Dynamism in standards will further affect the cost of R&D and production processes.
Bosch, Continental, Delphi Automotive, DENSO, Sensata Technologies, Autoliv, Bourns, CTS, Faurecia, GE Measurement & Control Solutions, Gill Sensors & Controls, Hamamatsu, Hitachi, Hyundai KEFICO, Infineon Technologies, Murata, NGK Spark Plug, NXP Semiconductors, Panasonic, ST Microelectronics, Stoneridge, Takata, Tenneco, Valeo, and ZF TRW.