By Kalwinder KaurJun 16 2012
A study on the increasing demand for vehicle sensors has been discussed by Flexpoint Sensor Systems ahead of important meetings with Fortune 500 auto companies.
Global Industry Analysts has analyzed the growth in the global automotive sensors market and estimated that this growth will reach $20.6 billion by the year 2017. This report by Global Industry Analysts focuses on the comfort and safety of using automotive sensors.
According to the report, an increase in CAGR of 9.2% is expected in the global market revenues for safety and security automotive sensors. Clark Mower, President of Flexpoint, highlighted the impact created by the growth in market revenues on Flexpoint’s progress with car manufacturers from the all over the world.
This report according to Mower confirms Flexpoint’s turnaround and the company’s improvements in the services with Fortune 500 auto partners. Flexpoint is pleased that its patience has been successfully awarded as the company is preparing for the significant meetings scheduled for June. These meetings are important as it paves the way for Flexpoint to establish significant contracts in the industrial market.
Flexpoint involved in the development of thin film sensing technology is currently working on projects starting from commercial trucks to family sedans. Flexpoint is also exploring new application fields for its new products.
Source: http://www.flexpoint.com
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