Global Automotive Temperature and Humidity Sensors Market - Segmented by Type (Temperature, Humidity), Technology (CMOS, MEMS), Application (Powertrain, Body Electronics, Alternative Fuel Vehicles), and Region - Growth, Trends, and Forecast (2018 - 2023)
The automotive inertial systems market is expected to register a CAGR of 6.70% over the forecast period of 2018–2023. The scope of the report is limited to the type, component, its applications, and the industries making use of it. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and the rest of the world.
The advancement of global lifestyle has resulted in the need for equipment with greater ease of use. This has enabled the use of motion-sensing technology, which uses inertial sensors extensively. Inertial sensors are being extensively used in the automobile market to increase the safety features, improve performance, and reduce cost.
The emergence of MEMS technology, increase in automotive production, and high investments in defense, military, and sub-sea vehicles are a few factors driving the automotive inertial systems market, while high cost and complexity are hindering the growth.
Emergence of MEMS Technology
MEMS started in 1950, and is being continuously developed for providing newer solutions for automotive. Silicon is the main material used in MEMS as it showcases semiconductor, commercial, and physical properties. MEMS comprises of sensors and electronic devices on a common silicon element.
A growing population of car owners is looking for enhanced vehicle features for better safety, comfort, and stability within cars. This is the major driver of MEMS market. Moreover, the governments are imposing stringent regulations toward vehicles’ fuel efficiency and emission standards. As a result of it, major players in the automotive market are increasingly striving to meet the standards through adoption of MEMS, thus escalating the demand for automotive MEMS in the market.
MEMS are increasingly being used in various applications such as parking brakes sensing, anti-theft sensing, efficient engine management, tire pressure sensing, rollover and skidding detection, efficient engine management, and many more.
North America to Hold Largest Market Share
In 2016, the United States defense spending was more than USD 611 billion, which represented 36% of the total world military expenditure (USD 1686 billion). Moreover, the increase in the production of helicopters and commercial aircraft will drive the market for automotive inertial systems. Further, the increasing penetration of automated guided vehicles coupled with the growing number of connected cars in the region is expected to bolster the demand for automotive inertial systems over the forecast period.
Key Developments in the Market