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Automotive Sensors Market Development, Growth and Demand Forecast to 2023

The automotive sensors market, in terms of value, is expected to grow from USD 22.94 Billion in 2016 to USD 36.42 Billion by 2023, at a CAGR of 6.71% between 2017 and 2023

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Automotive Sensors Market Development, Growth and Demand Forecast to 2023

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  1. Automotive Sensors Market Development, Growth and Demand Forecast to 2023 “The automotive sensors market, in terms of value, is expected to grow from USD 22.94 Billion in 2016 to USD 36.42 Billion by 2023, at a CAGR of 6.71% between 2017 and 2023.” According to the new research report "Automotive Sensors Market by Type (Temperature, Pressure, Oxygen, NOX, Speed, Inertial, and Image), Application (Powertrain, Chassis, Exhaust, Body Electronics, Safety & Control, and Telematics), Vehicle Type (Passenger Car, LCV, HCV), and Geography - Global Forecast to 2025", is expected to grow from USD 26.3 billion in 2018 to USD 41.5 billion by 2025; it is estimated to grow at a CAGR of 7% during 2019–2025. Increasing electrification in automotive industry, stringent movement regulations, increasing moto vehicle production worldwide, and growing consumer demand for safety and comfort are the key factors fueling the growth of this market. Position sensor type is expected to gain significant share of automotive sensors market by 2025 The position sensor type is expected to account for the largest share of the automotive sensors market by 2025. The position sensor is an electronic device used to measure position changes relative to a reference position. The leading position of position sensors can be attributed to its increasing demand for applications such as brake pedal position sensing, clutch pedal position sensing, accelerator pedal position sending, seat and headrest position, electric roof position, sunroof position, windscreen wiper position, crash sensing, valve position sensing, gear shift position sensing and more. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=426

  2. Based on Vehicle type, market for heavy commercial vehicles to grow at higher CAGR from 2019 to 2025 The automotive sensors market for heavy commercial vehicles (HCV) is expected to grow at a higher CAGR from 2019 to 2025. The HCV segment includes trucks, semi-trucks, and buses. Applications of automotive sensors in the HCV for safety enhancement such as, attention assist, brake assist, lane keeping assist, and stability control assist are likely to be the major factors contributing to the growth of the automotive sensors market for HCVs. Based on the application, automotive sensors market for telematics to grow at higher CAGR from 2019 to 2025 The telematics application is expected to exhibit the highest CAGR in the overall automotive sensors market during the forecast period. Increased usability of automotive sensors as in telematics applications such as, information and navigation, entertainment and diagnostics, has contributed to the increased demand for automotive sensors in telematics applications. Automotive sensors market in APAC to grow at highest CAGR during forecast period The automotive sensors market in APAC is expected to grow at the highest CAGR during the forecast period. Escalating population growth, increasing R&D investments, and growing manufacturing in automotive sector are expected to drive the growth of the automotive sensors market in APAC. Further, applications such as antilock braking systems, airbags systems, central locking system, and various applications related to comfort and safety are likely to fuel the growth of the automotive sensors market in APAC. Key players in the market include Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive plc (UK), Denso Corporation (Japan), Infineon Technologies AG (Germany), Sensata Technologies, Inc. (US), Allegro Microsystems, LLC (US) , Analog Devices, Inc. (US), Elmos Semiconductor AG (Germany), CTS Corporation (US). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares. Don’t miss out on business opportunities in Automotive Sensors Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

  3. About MarketsandMarkets MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 stomers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Contact: Mr. Shelly Singh MarketsandMarkets INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 Email:sales@marketsandmarkets.com

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