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Brazil Automotive Sensors Market to Reach $0.35B by 2018
June 10, 2015 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Brazil Automotive Sensors Market - Growth, Trends & Forecasts (2014-2020)" report to their offering.
The Brazil automotive sensors market is expected to increase to $0.35 billion by 2018 at a CAGR of 4.96% over the period 2014-2020. The low cost & compact size, ecofriendly & bulk manufacturing capability, and energy efficient are the key drivers which are making the automotive sensors market to grow lucratively. Development of new applications for technologies which utilize nano and micro technology will help grow the Brazil automotive sensor market. Increased research and development in the sensor industry is creating opportunities for technological advancements that open up new horizon for sensor applications.
The major trend driving the Brazil automotive sensor market is miniaturization and improved communication capabilities, which enables their integration into vehicles without interfering with the basic functionalities of the vehicle. New product launch has been the most preferred growth strategy for capturing strong market share in the automotive sensor market. The product launches are aimed to cater to the specific applications like automotive and aerospace and defense. This has been the strategy of market leaders, as well as the emerging companies. A large number of partnerships, collaborations, and agreements among the companies to strengthen their distribution channels have helped the companies to combine their strengths and complement the weaknesses.
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