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The major drivers of growth for this market are increasing automotive production; increasing usage of electronic component per vehicle further increases the number of sensor, and various government regulations for fuel emission and vehicle safety.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing usage of sensors in ADAS application, development of advanced magnetic position sensor in electric power steering application, advancement of silicon based sensor, and development of wireless sensing for automotive application.
On the basis of its comprehensive research, Lucintel forecasts that the safety and security and driver support segments are expected to show above average growth during the forecast period. Within the global automotive sensor market, the engine and transmission segment is expected to remain as the largest market. Continuous implementation of the fuel emission regulations and increasing sensor content in the engine and transmission applications would spur growth for this segment over the forecast period.
Asia Pacific is expected to remain the largest market due to high vehicle production, continuous implementation of regulations on fuel emission and increasing number of sensor per vehicle. Europe and Rest of the World are expected to witness significant growth over the forecast period because of stringent government regulations on fuel emission and safety of vehicles, strong recovery in vehicle production and sales along with continuous demand for safety and comfort features.
New Balance
