Jan 25 2014
Research and Markets has announced the addition of the "2013 Report on the International Sensors Market For Automotive Applications - Forecasts to 2022" report to their offering.
Recession has turned the world automotive market upside down. Sales in developed markets such as the US, Western Europe and Japan fell by nearly 9%, 2% and 4% per year from 2004 to 2009, while emerging markets such as Brazil, China, and India grew by almost 14%, 26% and 12% percent respectively per year during the same period. The result is that emerging regions are now identified as better sensors market for automotive applications as the market is highly dependant on production.
Developed markets such as the U.S., U.K. and Japan have technologically advanced automotive markets due to the presence of prominent system suppliers, large semiconductor companies and sensor manufacturers. The size of the region, the affluence of consumers and the competitiveness of the light vehicle market make them a good market for sensor manufacturer. On the other hand, emerging markets such as China and India, due to the sharp increase in light vehicle manufacturing from 2004 till 2009 and expected continued growth in the near future, has a positive impact on the market for automotive sensors.
The government plays a significant role in the growth of automotive sensors. Environmental regulations such as Euro 5 and Euro 6 in Europe tend to limit pollution caused by road vehicles. These regulations require more complex and additional systems which in turn results in more electronic content in automotive.