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January 22, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Europe Automotive Sensors Market - Growth, Trends and Forecasts (2015 - 2020)" report to their offering.
The Europe automotive sensors market is expected to grow to $6.67 billion by 2018 at a CAGR of 8.04% over the period 2015-2020.
Europe is the second largest market in the global automotive sensors sector, and would remain to be so in the forecast period. With the increasing popularity of vehicle automation and increasing demand of connected cars around the region, the demand for automotive sensors is expected to grow significantly during the forecast period.
The continuous development in electronics sensors application and technology, along with the rising concern for safety would primarily help to fuel the growth of the former market in Europe. In addition, the increasing use of sensors in hybrid, semi-hybrid and electric cars have helped to boost the demand of automotive sensors market in Europe.
Lack of aftermarket for sensors, along with the stagnant growth of luxury vehicles (which has a major application for automotive sensors) is one of the main restraints in the growth of the market for automotive sensors in Europe. However higher accuracy, self-test capabilities and the need for rapid data transmission are fueling the trend towards more intelligent sensors, driving the demand for automotive sensors in the forecast period.
You will find the report here.
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