Kenneth Research, in its repository of market research reports, has recently added a report on Automotive Sensors Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Automotive Sensors Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
The U.S. Market recovers fast; In a release on May 4th, 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Automotive Sensors Market products.
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The global Automotive Sensors Market was valued at USD 22.67 billion in 2016 and is projected to reach USD 39.79 billion by 2025, growing at a CAGR of 6.45% from 2017 to 2025.
A sensor is a device, module, or subsystem whose purpose is to detect events or changes in its environment and send the information to other electronics, frequently a computer processor. A sensor is always used with other electronics, whether as simple as a light or as complex as a computer.
1. Market Drivers
1.1 Increasing Electrification in the Automotive Industry
1.2 Stringent Government Regulations
1.3 Growing Motor Vehicle Production Worldwide
1.4 Growing Consumer Demand for Safety and Comfort
2. Market Restraints
2.1 Competition in terms of Pricing
2.2 Unavailability of Aftermarket
2.3 Lack of Uniform Fabrication Process for Mems
1. Global Automotive Sensors Market, by Vehicle Type:
1.1 Passenger Car
2. Global Automotive Sensors Market, by Application:
2.4 Safety and Control
2.5 Body Electronics
3. Global Automotive Sensors Market, by Sensor Type:
3.1 Temperature Sensors
3.2 Pressure Sensors
3.3 Position Sensors
3.4 Oxygen Sensors
3.5 Nox Sensors
3.6 Speed Sensors
3.7 Inertial Sensors
3.8 Image Sensors
3.8.3 Difference Between CCD and CMOS Image Sensors
3.8.4 Top 10 Companies in the Automotive Image Sensors
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4. Global Automotive Sensors Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Robert Bosch GmbH
2. Continental AG
3. Delphi Automotive PLC
4. Denso Corporation
5. Infineon Technologies AG
6. Sensata Technologies, Inc.
7. Allegro Microsystems, LLC
8. Analog Devices, Inc.
9. ELMOS Semiconductor AG
10. CTS Corporation
12. NXP Semiconductors N.V.
13. TE Connectivity Ltd.
14. St Microelectronics N.V.
15. ZF Friedrichshafen AG
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Automotive Sensors Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team
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