Dallas, TX -- (ReleaseWire) -- 03/14/2014 -- According to a new market research report, "Sensors Market [(Temperature, Pressure, Speed, Level/Position, Oxygen, Nox) For Automotive Applications (Power Train, Body Electronics, Vehicle Security, Safety and Controls, Alternative Fuel Vehicles and Telematics)] 2012 – 2022", the total automotive sensor market is expected to reach $33.59 billion by 2022 at a CAGR of 7.8%; and the volume of sensors is expected to reach 8930.00 million units in 2022 from 2,965.37 million units in 2012, at an estimated CAGR of 11.7% from 2013 to 2022.
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The revenue for the automotive sensor market is expected to grow from $15.94 billion that it accounted for in 2012 to $33.59 billion by 2022, at an estimated CAGR of 7.8% from 2013 to 2022. The volume of sensors used for automotive applications, estimated to be 2,965.37 million units, is expected to rise up to 8,930 million units by 2022, with a CAGR of 11.7% from 2013 to 2022.
he past decade has witnessed the increase of sensors in automotive applications at an alarming rate. On an average, in engine control applications, the number of sensors used will increase from approximately ten in 1995, to more than thirty in 2010. This trend can be attributed to technological advancement in developed market, increase in automotive manufacturing facilities in emerging markets such as China and expected recovery from the 2009 recession.
The revenue for the automotive sensor market is expected to grow from $14.5 billion in 2011 to $20.70 billion in 2016 at an estimated CAGR of 7.4%. The volume of sensors used for automotive applications currently estimated to be 2667 million units and is expected to raise up to 4513 million units at an estimated CAGR of 11.2% from 2011 to 2016.
The automotive sensor market is poised to grow due to several enabling factors; however, there continues to be some restraint to the growth. For automotive sensor market - worldwide vehicle production, technology developments, customer preference, and government mandates are acting as drivers; whereas pricing issues, high expectations from automotive OEM, and inadequate aftermarket services and products are acting as restraints. The increasing demand of Advance Driver Assistance Systems (ADAS),and hybrid and electric vehicles (EV), are the future opportunities for automotive sensors.
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In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing the market growth; offering an in-depth geographic analysis of the automotive sensor market in North America, Europe, Asia-Pacific, and ROW; and further segmented to different countries. The report draws the competitive landscape of the automotive sensor market, providing an in-depth comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors.
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