Automotive Sensors Market to Record an Exponential CAGR by 2020

New York, NY — (SBWIRE) — 03/20/2017 — The automotive sensors are one of the fasted growing sectors in automotive industry with growth rate in double digit, especially in OEM (original equipment manufacturing) section. North America remains the largest market for automotive sensors market, followed by Europe and Asia Pacific. Germany leads the European market and China and Japan leads the Asia Pacific market. The growth is expected to be highest in Asia Pacific mainly attributed to growing economy of some of the other Asia Pacific’s nations such as India, Indonesia, Malaysia, Thailand and Philippines.

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The continuous development in electronics sensors application and technology, the rising concern for safety, increasing demand of automation in automobiles, demand of concept cars from high income consumers and increasing use of sensors in hybrid semi hybrid and electric cars are boosting the demand of automotive sensors market. Lack of aftermarket for sensors is one of the chief restraints in the developing market of automotive sensors.

Development in the field of ‚Advance Driver Assistance Systems'(ADAS) and hybrid and electric vehicle are showing promising the future opportunities for automotive sensors market.

Some of the major players operating in the automotive sensors market include Analog Devices, Inc., ATI Industrial Automation, Denso Corporation, Robert Bosch, Gmbh, Sensata Technologies, Inc., Asahi Kasei Corporation, Freescale Semiconductor, Inc, Maxim Integrated, Infineon Technologies AG, Measurement Specialties, Tekscan, Inc., Texas Instruments Incorporated and GE Measurement and Control Solutions.