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Assessment of the $19 Billion Automotive Sensors Market with

time:2016-05-12 source:未知 click: second
Research and Markets has announced the addition of the "Automotive Sensors Market by Type (Temperature, Pressure, Position, Oxygen, NOx, Speed, Inertial, and Image), Application (Powertrain, Chassis, Exhaust, Body Electronics, Safety & Control, and Telematics), and Geography - Global Forecast to 2020" report to their offering. 
 
The automotive sensors market was valued at USD 19.69 Billion in 2014 and is expected to grow at a CAGR of 7.72% between 2015 and 2020
 
The growth of the automotive sensors market is propelled by factors such as government regulations for safety, efficiency, and driver assistance; increasing vehicle electrification; and increasing demand for sensors for the safety, convenience, and comfort. Regulations on fuel economy and emissions are becoming stringent in many parts of the world, and sensors are playing a crucial role in containing themselves in the regulation limits. 
 
Telematics followed by safety & control and body electronics are the fastest-growing application sectors of the automotive sensors market. Early adoption of automotive sensors for lower emissions, improved fuel economy, and onboard diagnostic requirements have resulted into the dominating position of the powertrain application of the automotive sensors market. Governments around the world are implementing safety legislations to increase the safety of the passengers. Similarly, people in the developing countries have also become more aware of the requirement of safety features such as air bags, antilock braking, crash avoidance and are opting for the safety systems which is expected to further drive the market. 
 
The market for image sensors is expected to grow at a high CAGR during the forecast period. Due to increased utilization of image sensors in ADAS, parking assistance (APA), lane departure warning (LDW), collision avoidance systems, and other safety applications, the demand for image sensors is expected to grow rapidly. 
 
Asia-Pacific accounted for the largest share of the automotive sensors market in 2014; the market in the region is expected to grow at the highest CAGR between 2015 and 2020. Lower penetration of the automobile industry in emerging economies such as China and India and increasing demand for more efficient and safer vehicles than the existing vehicles are the main factors that are fuelling the growth of the automotive sensors market in this region. The prime driving country for automotive sensors in Asia-Pacific is China. 
 
Robert Bosch GmbH (Germany) and Continental AG (Germany) are the two major players in the automotive sensors market. The companies are heavily investing in research and development activities and introducing new products to stay ahead in the market.