This market research report presents a detailed segmentation of the global sensor module market in the automotive sector by application (powertrain and engine control, safety and chassis control, and others), by vehicle type (passenger cars and commercial vehicles), and by geography (the Americas, APAC, and EMEA). The leading vendors in this market are Bosch, Continental, Delphi Automotive, DENSO, Infineon Technologies, and NXP Semiconductors.
Technavio has released a new market research report on the global sensor module for automotive market, which is expected to grow at a CAGR of more than 6% between 2016 and 2020. Sensors are highly adopted in the automotive sector to reduce the occurrence of accidents. They provide driver assistance applications and improve driving control while keeping drivers and passengers comfortable. Stringent regulations on emission control across the globe has pushed vendors to incorporate sensors modules in vehicles. APAC accounts for 49% of the global sensor module market in the automotive sector as all the major car manufacturers such as Hyundai, Nissan, and Toyota have their bases in this region.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“This market is expected to witness increasing demand for electric cars in the coming years. Of late, there has been an augmented demand for electric vehicles because of government promotions of campaigns and a considerable reduction in the cost of building electric vehicle batteries. Moreover, these batteries are envisaged to cost lesser than the internal combustion engine in the coming years, thereby fueling the demand for electric vehicles. This is expected to hamper the oil market and will, in turn, lead to a reduction in the price of sensor modules until the end of 2020,” says Asif Ghani, Lead Analyst, Semiconductor, Technavio Research
The powertrain and engine control segment dominates this market, occupying more than 76% of the market share in terms of revenue. The powertrain and engine control section of the car needs high-end sensor modules, which are essential to drive the sensors and other microcontrollers. Moreover, the sensors used in this section form an important component of the engine, as they monitor the temperature of the engine and keeps the engine from overheating. These factors are expected to aid in the growth of the powertrain and engine control segment until the end of 2020.
The leading vendors in the global sensor module for automotive market include Bosch, Continental, Delphi Automotive, DENSO, Infineon Technologies, and NXP Semiconductors. This market is highly fragmented and is characterized by the presence of a large number of established manufacturers and a significant number of small- and medium-sized enterprises. The market also has the presence of well-diversified global and regional vendors. The competitive nature of this market is envisaged to intensify as more sensors enter the mass market, which is inevitable in the wake of increasing government regulations and consumer demand for automotive safety and advanced features.
A more detailed analysis is available in the Technavio report Global Sensor Module for Automotive Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
