Nottingham, United Kingdom, June 02, 2016 --(PR.com
)-- In a recently published Information, the Global Automotive Sensors Market expected to grow at the CAGR of 9.1% during 2015-2022 and it estimated to be $36.25 billion by 2022. The global automotive sensors market is segmented on the basis of product, industry applications and geography. The Information on Global Automotive Sensors Market Forecast 2015-2022 provides detailed overview and predictive analysis of the market.
The global automotive sensors market is expected to grow exponentially due to various factors such as increasing demand of vehicles especially motor cars around the world. The increasing demand for hybrid and electric vehicles with growing consumer demand for fuel-efficiency and comfort, in addition to factors such as strengthening government rules for vehicle safety is driving the market for automotive sensors worldwide.
The shift towards self-driving cars could significantly boost the automotive sensor market as more intelligent data processing devices are required to make autonomous decisions which leads to development of automotive sensors market.
Due to advancement in automobile technology, vehicles are increasingly being equipped with numerous sensing devices that provide information on different parameters ensuring comfort, safety, and security.
The automotive sensors are one of the fastest growing sectors in automotive industry with growth rate in near double digit; especially in OEM (original equipment manufacturing). Europe (European Union) is presently the leading market of automobile sensors, due to the exponential growth in the logistics industry, with increasing information about safety, and setup of Low Emission Zones (LEZs) in European Union. These factors are fueling the demand for HEVs which is also boosting demand of automotive sensors in this region. Companies based in Europe and US (For example: Bosch, Emerson Electric) have spent significant revenue on R&D for new development of new products for automobiles makers.
The leading players with significant hold over the Global Automotive sensors market include players such as: Bosch, Denso Corporation, Sensata, Freescale Semiconductor, Agilent Technologies, Ford Corporation, Honeywell, Johnson Controls, Emerson Electric, General Electric, AMETEK Inc Honeywell, Analog Devices, and Delphi Automotive. The Bosch and Denso Corporation currently dominates the overall Automotive sensor market with share of over 24% in 2015.
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