Automotive sensor market
Automotive sensor market is growing faster than vehicle production
The market for automotive sensors will grow steadily over the next few years. For 2017, experts expect a market volume of more than 17 billion dollars.
This is the result of the Strategy Analytics study "Automotive Sensor Demand Forecast 2008 to 2017". As a result, the market volume for sensors used in vehicles will increase from $ 9.9 billion in 2009 to $ 11.3 billion in the current year, which corresponds to a growth of 15 percent.
The further increase in vehicle production as well as planned requirements for energy efficiency or security are expected to result in more than four billion sensors being sold in 2017, which is equivalent to a value of around 17.6 billion dollars.
In the period from 2009 to 2014, the makers of the study expect annual growth (CAGR) in vehicle production of 7.9 percent, while the sales generated with sensors are expected to grow by an average of 10.3 percent. "Automobile manufacturers use complex electronic systems to make their vehicles safer, more energy efficient and more environmentally friendly. This leads to a higher number of sensors per vehicle," explains Mark Fitzgerald, Associate Director, Automotive Practive, at Strategy Analytics.
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