Boston-based Strategy Analytics, a leading research and consulting firm focusing on market research and challenging opportunities in various fields conducted a detailed survey on the "Automotive Sensor Demand Forecast 2008 to 2017: Global Economic Rebound Sparks Growth".
The study foretells that the demand for automotive sensing devices will increase with a yearly expansion of about 15% i.e. from $9.9 billion in the year 2009 to a growth of about $11.3 billion in 2010. The world-wide economic revival has stimulated a return in the global vehicle market and the increased emission, security and fuel economy measures are likely to trigger the shipments of automotive sensing devices to about $17.6 billion in the year 2017 according to Strategy Analytics
The manufacture of light vehicles is predicted to enhance by a 7.9%CAGR from 2009 to 2014 while the automotive sensor market will experience an enhancement of CAGR by 10.3% with the establishment of electronic advancements for strengthening the effectiveness, safety level and handiness.