2016 automotive sensor market will reach 16.8 billion US dollars

The global market research and consultancy firm Strategy Analytics' automotive electronics market research and service department has released the latest research report "Auto sensor market demand forecast from 2007 to 2016: Despite the current market downturn, but the future demand is strong." The report predicts that the market size of automotive sensors will drop by 14.6% to US$9.9 billion in 2009. Although the current global auto market is sluggish, by 2016, automotive sensor shipments will grow to 3.7 billion units, and the market value will reach 16.8 billion US dollars. Its growth driver is that manufacturers have planned to improve vehicle safety, reduce emissions and improve Fuel economy to meet the government's mandatory requirements.

From 2008 to 2013, the compound annual growth rate (CAGR) of light vehicle production is expected to be 3.5%. Strategy Analytics predicts that at the same time, the compound annual growth rate of automotive sensor market revenue will be 5.4%. This is due to the introduction of electronic control innovations by automakers to improve vehicle performance, comfort and convenience to meet tight economic conditions, fuel mileage and safety regulations, and to meet consumer demand.

Mark Fitzgerald, senior analyst for market research services for automotive electronics at Strategy Analytics, said: “Automakers use sophisticated electronic systems to make cars safer, more fuel efficient, and more environmentally friendly, creating the need for more sensors for vehicles.”

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