By Kalwinder KaurJul 2 2012
Research and Markets declared that a report titled ‘Global Automotive Sensor Market 2011-2015’ has been added to its offering.
The growing safety concerns of end-users by governments and automobile manufacturers worldwide have led to the development of this market. The global automotive sensor market has been experiencing an emerging demand for automotive electronic parts by end-users, leading to increasing driving experience and safety. On the other hand, the rising cost of automotive raw materials will hamper the growth of the market.
The market space includes major vendors such as Sensata Technologies, Freescale Semiconductor, Robert Bosch, and Denso.
TechNavio's Automotive team analyst stated that there is a rising demand for electronic components for automobiles. The rise in demand is due to the changing customer habits, stringent emission norms stipulated by the worldwide governments to preserve the environment from global warming, pollution etc. In addition, the global automotive sensor market will have a significant growth owing to the worldwide commercialization of electric vehicles and the rapid deployment of more advanced electronic systems.
This report states that the growing requirement for the safety of passengers has driven the growth in the global automotive sensors market. Automobile manufacturers deploy devices including vehicle stability systems, anti-lock braking systems, engine control units (ECU), crash sensors for the security of occupants, and various other devices that protect passengers in addition to enabling them to have better control over the vehicle. Therefore, sensors are being used more rapidly in automobiles, thereby driving the global automotive sensor market.
The report also discusses that the rise in the cost of automotive systems will impact the global automotive sensor market.
Source: http://www.researchandmarkets.com/
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