Global Automotive Sensors Market: Key Highlights
Global Automotive Sensors Market: Key Market Dynamics
Global Automotive Sensors Market: Regional Overview
The Asia-Pacific region is projected to be the largest contributor to the automotive sensors market owing to growing automotive sector. The growth in the automotive sector in the region is mainly due to the high demand for luxury vehicles, with increased vehicle production and a rise in the OEM market. Chinese companies produce high-tech sensors for transportation applications and are currently competing with the global automotive sensor manufacturers. As per China’s industrial policy, “Made in China 2025”, it aims to be the global technological giant by 2049. This is expected to increase the development of the advanced sensor system for automotive application.
The aforementioned factors coupled with low manufacturing cost is expected to drive the automotive sensors market in the region.
The automotive sector plays a vital role in boosting the European economy. The growing automotive sector in the region is the prominent factor pushing the overall economy. In Europe, 19.2 million vehicles are manufactured every year as per the data shared by the European Automobile Manufacturers Association (ACEA). The rising demand for vehicle production, growing adoption of ADAS system and safety features, and the demand of sensors in electric, semi-hybrid and hybrid cars in Europe has boosted the automotive sensors market.
Global Automotive Sensors Market: Key Players Overview
Robert Bosch GmbH is a German-based company. The company offers industrial products, auto spare parts, mobility, control and drive technology, business process outsourcing, and others. Bosch Rexroth AG is a subsidiary of Robert Bosch GmbH. Bosch is one of the leading players in the provision of a micro-electro-mechanical system (MEMS) sensors. Moreover, in 2018 they produced more than 10 billion sensors for various industrial applications such as the Internet of Things (IoT).
Continental AG is a German-based company. The company is specialized in manufacturing automotive safety, chassis and powertrain components, interior electronics, brake systems, tires, tachographs, and other parts for the automotive and transportation industries. The company leads in manufacturing and designing automotive sensors like pressure sensors, smart NOx sensors, temperature sensors, and other sensors.
About Forencis Research
Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis, and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.
Phone: +1 (720) 306 9020