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Global Automotive Sensors Market to Reach $36.25B by 2021
April 7, 2016 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Automotive Sensors Market By Country (United States, Canada, Mexico, Germany, Russia, India, China, South Korea, United Kingdom, Brazil), Company Profiles, Size, Share, Trends, Analysis, Opportunities, Segmentation And Forecast 2015 - 2021" report to their offering.
The global automotive sensors market is growing at a CAGR of 9.1 in the forcasted period of this report, 2015-2021. It is expected to reach a revenue of USD 36.25 billion by 2021.
The need for ecofriendly transport along with speed , safety and accuracy have help this market to grow rapidly. Power trains are the largest application market of the automotive sensors market. Safety and control is the fastest growing application.
Constant technological advancement and upgradations keep the technology in demand but has also succeeded in keeping prices higher acting as a restrain on the market.
Globally, Europe dominates the global automotive sensors market, with high investments from manufacturers due to growing demand followed by North America and Asia Pacific. However, Germany leads the European market and China and Japan remain leaders in the Asia Pacific region. The growth is expected to be highest in Asia Pacific mainly attributed to growing economy of some of the other Asia Pacific nations such as India, Indonesia, Malaysia, Thailand and Philippines.
The Bosch and Denso Corporation have put in considerable efforts in R & D in this market and currently dominated the overall Automotive sensor market with share of nearly a quarter of the market in 2015.
The leading players in global automotive sensors market include Bosch, Denso Corporation, Sensata, Freescale Semiconductor, Agilent Technologies, Ford Corporation, General Electric, AMETEK Inc Honeywell, Analog Devices, and Delphi Automotive.
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