Automotive Sensor Market to GrowJuly 14, 2011
Strategy Analytics forecasts sales will reach $21.9 billion by 2018, with safety, emission, and fuel economy enhancements, as well as the BRIC regions, driving demand.
BOSTON /BUSINESS WIRE/ -- The new Strategy Analytics Inc. study "Automotive Sensor Demand Forecast 2009 to 2018: BRIC Regions Drive Demand" predicts that the market for automotive sensors will rise from $12.9 billion in 2010 to $13.8 billion in 2011, a year-on year growth of 7%. The global economic recovery has triggered demand rebound for vehicles, especially in emerging markets. Additionally, planned vehicle safety, emission, and fuel economy enhancements will drive automotive sensor shipments to over 5 billion units, worth $21.9 billion in 2018.
Light vehicle production is expected to grow at a CAGR (Compound Annual Growth Rate) of 6.8% over the period 2010 to 2015. Strategy Analytics expects automotive sensor revenues over the same period to grow by 8.4% CAGR, as carmakers respond to tightening environmental, fuel mileage, and safety legislation, as well as consumer expectations. Manufacturers will introduce electronically controlled innovations for enhanced performance, comfort, and convenience.
"Global automotive sales are rebounding from the lows of 2009 and 2010, especially in the emerging BRIC regions (Brazil, Russia, India And China). Calling for sophisticated electronic systems, and building safer, fuel efficient, and environmentally friendly vehicles, this is creating a demand for a higher number of sensors per vehicle," says Mark Fitzgerald, Associate Director, Automotive Practice.
About Strategy Analytics
Strategy Analytics Inc. provides timely and actionable market intelligence, focused on opportunities and disruptive forces in the areas of automotive electronics and entertainment, broadband connected home, mobile and wireless intelligent systems, and virtual worlds. Headquartered in Boston, MA, with offices in the UK, France, Germany, Japan, S. Korea, and China, Strategy Analytics works with clients through annual multi-client services, management team workshops, and custom consulting engagements.
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