Market Research Projects the Automotive Sensor Market to Reach 20 Billion by 2016
MarketResearch.com, the leading source of market research, has announced the addition of the new market intelligence report "Global Sensors Market for Automotive Applications (2011 - 2016)" to their collection of Electronics industry analysis. For more information, visit http://www.marketresearch.com/MarketsandMarkets-v3719/Global-Sensors-Automotive-Applications-6683096/
The world witnessed recession from 2008 to 2009. Automotive industry was also hit on a massive scale; dropping total automotive production from 68 million units of light vehicle production to 58 million.
Recession has changed the world automotive market upside down. Sales in developed markets such as the U.S., Western Europe, and Japan fell nearly by 9%, 2%, and 4% respectively per year from 2004 to 2009, while emerging markets such as Brazil, China, and India grew by almost 14%, 26%, and 12% respectively per year during the same period. This has made emerging markets a better market for automotive sensor as the automotive sensor market is highly dependent on automotive production of respective market.
Developed markets such as the U.S., U.K., and Japan have technologically advanced automotive markets due to the presence of prominent system suppliers, large semiconductor companies, and sensor manufacturers. The size of the region, the affluence of its consumers, and the competitiveness of the light vehicle market make them a good market for sensor manufacturer. On the other hand, emerging markets such as China and India, due to sharp increase in light vehicle manufacturing from 2004 to 2009 and expected continuous growth in the future, have a positive impact on demand of automotive sensor; which makes them a huge market for automotive sensors.
Government plays a significant role in growing of automotive sensor.
Environmental regulations such as Euro 5, Euro 6 in Europe tend to limit pollution caused by road vehicles. These regulations require more complex and additional systems. This results in more electronic content in automotives. Legislation called TREAD Act in the United States has made the installation of TPMS (tire pressure monitoring systems) in all the vehicles mandatory. Government of United States has also made airbags and side airbags compulsory for passengers; which again will drive the pressure sensor market further.
In addition to market sizes and forecasts, this report also provides market research intelligence on the trends and factors influencing market growth, offering in-depth geographic analyses of the automotive sensor market. It draws the competitive landscape of automotive sensor market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
The revenue for the automotive sensor market is expected to grow from $14.5 billion in 2011 to $20.70 billion in 2016 at a CAGR of 7.4% from 2011 to 2016.
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