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New Revenue pockets - Automotive Sensor Market
The future of automotive sensors is highly dependent on new and advanced sensor technologies such as: MEMS sensor, wireless sensor, and radar& camera sensors. Presently, MEMS (Micro-Electro-Mechanical Systems) sensors aregrowing at an impressive growth rate and have a very promising market potential in the automotive applications. MEMS technology is giving tough competition, as well as growing at a fast pace when compared to technologies such as: magnetic Hall Effect, inductive sensing and others.
The automotive MEMS sensors are used in more than 25 established and emerging automotive applications, namely: chassis, powertrain, and body electronics. They are being used to measure parameters such as; inertia, pressure, flow and others. These sensors perform a variety of safety, control and environmental functions, from airbag collision detection to tire pressure monitoring. Hence, the technological advancements and advantages offered by the MEMS sensors are expected to make them in the next major revenue pocket for the automotive sensors’ companies.
The adaptation of MEMS technology could be a winning imperative in the automotive sensor market. In addition, government is also playing a significant role in the growthof the global automotive sensor market. For instance, environmental regulations in Europe tend to limit pollution caused by road vehicles. These regulations require more complex and additional systems which results in more electronic content.Government of the U.S. has also made passengers airbags and side airbags compulsory which again will drive the pressure sensor market further. Although, the safety regulations have provided significant sensor growth, environmental regulations have been a strong driver for the growth of the automotive sensor market worldwide.These steps from government have stimulated growth in the vehicle security industry and applications such as; antilock braking system, central locking system and the ones in comfort and convenience. Powertrain sensor is an emerging application for Asia-Pacific region and is expected to show a promising growth in coming future. The automotive markets in countries such as; China and India require regulations to be mandated for the installation of TPMS (Tire Pressure Monitoring Systems) and such regulations are expected to surge the demand for automotive sensors in the near future. Emission control sensor demand will also grow due to increasing restrictive emissions regulations and the subsequent need for new sensor systems. Other sensors such as; ultrasonic, image, laser, and radar sensors, are about to enter the automotive sensor market on the large scale. Hence, because of all these technology developments, government and environmental regulationsand emerging automotive applications for sensors, the global automotive sensor market is certainly going to grow at a faster pace in the coming future.
Automotive Sensor Market by Product (Pressure, temperature, level, speed, MEMS, oxygen, Nox), Application (powertrain, safety & control, vehicle security, alternative fuel, telematics) and Geography - Forecast & Analysis to 2013 - 2022
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