Automotive Sensor Demand Forecast 2010 to 2019: Strong Growth Despite European Market Concerns
NAFTA and Emerging Markets Show Growth While Europe Stumbles
Boston, MA - August 1, 2012 – The new Strategy Analytics study: "Automotive Sensor Demand Forecast 2010 to 2019: Strong Growth Despite European Market Concerns" predicts that the market for automotive sensors will rise from $15.6 billion in 2011 to $17.4 billion in 2012, a year-on year growth of 11.6%. This analysis shows the global economic recovery has triggered a rebound in global demand for vehicles, especially in NAFTA and the emerging markets, though slow vehicle sales in Europe tempered overall sensor growth rates.
Planned vehicle safety, emission and fuel economy enhancements will drive automotive sensor shipments to over 5.4 billion units and be worth $27.2 billion in 2019.
Light vehicle production is expected to grow at a CAGR (Compound Annual Growth Rate) of 6.8% over the period 2011 to 2016. Over the same period, Strategy Analytics expects automotive sensor revenues to grow by 9.6% 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.
"Global automotive sales continue to rebound from the lows of 2009 and 2010, especially in NAFTA and the emerging BRIC regions. This combined with vehicle makers using sophisticated electronic systems to create vehicles that are safer, fuel efficient and environmentally friendly is creating a demand for a higher number of sensors per vehicle" says Mark Fitzgerald, Associate Director, Automotive Practice.
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