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Global automotive sensors market: $30.3 billion industry forecast by 2020

Press Release   •   Aug 21, 2013 10:51 BST

The global automotive sensors market is suggested to have reached a value of around $16.2 billion at the end of 2012, and is estimated to reach a total of $17.4 billion during 2013. The industry is now forecast to hit a total of around $30.3 billion by the end of 2020, which suggests a CAGR growth rate of 8.2% between 2012 and 2020. As a key sector of the overall automotive sensors market, the automotive MEMS sensors category is forecast to grow from $2.6 billion in 2013 to over $4.7 billion by 2020.

Automotive Sensors are vital components of automotive electronic systems, as modern vehicles rely on these electronic systems to make sure vehicles meet efficiency and security standards as well as environmental regulations. Driven by government regulations of safety and emissions, introduction of high-end options in modern vehicles by major automobile manufacturers and consumer demand for safety, comfort, infotainment applications and fuel efficiency, automotive electronics content per vehicle is on the rise. As the electronics content is increasing in automobiles, the number of automotive sensors used in vehicles is also increasing.

Primarily, the government regulations in North America, Europe, Japan, China and South Korea, driving demand for automobile safety features that ranges from passive to integrated active and passive safety systems. These developments are driving increased demand for applications such as tire pressure monitoring, electronic stability control, occupant detection and advanced driver assistant systems.

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