Automotive Sensors Market to Expand to $17 Billion by 2013May 2, 2007
BOSTON /BUSINESS WIRE/ -- The new Strategy Analytics study, "Automotive Sensor Demand Forecast 2004 to 2013," predicts that the market for automotive sensors will reach $11.2 billion in 2007, a year-on-year growth of 10.7%, showing that planned vehicle safety, performance, and feature enhancements will drive demand for automotive sensor shipments to over 3.4 billion units, worth $17.1 billion.
Light vehicle production is expected to grow at a CAGR (compound annual growth rate) of 3.6% over the period 2005 to 2010. Over the same period, Strategy Analytics expects automotive sensor revenues to grow by 9.8% CAGR, as carmakers respond to tightening environmental, fuel mileage, and safety legislation, as well as consumer expectations, by introducing electronically controlled innovations for enhanced performance, comfort, and convenience.
"Vehicle makers are using sophisticated electronic systems to create safer, more fuel efficient, and environmentally friendly vehicles, creating demand for a higher number of sensors per vehicle," says Mark Fitzgerald, Senior Analyst, Automotive Practice.
About Strategy Analytics
Strategy Analytics Inc focuses on market opportunities and disruptive forces in the areas of automotive electronics and entertainment, broadband connected home, mobile & wireless, and intelligent systems implementation strategies, headquartered in Boston, MA, with offices in the U.K., France, Germany, Japan, S. Korea, and China. For more on Strategy Analytics solutions, visit the company's Web site.
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