APAC is considered to be the fastest growing economic region. The dominance of the region is majorly attributed to the presence of large numbers of Chinese automotive and sensors manufacturers. China is one of the prominent leaders in global electric vehicle development globally and ranks first in Asia Pacific region. Also, the country houses a number of automobile manufacturers, and in the current scenario, these Chinese automakers are making remarkable investments in order to procure advanced sensors. Pertaining to the fact this, the quest for advanced technologies among the Chinese mass is significant, the development of advanced sensors is also rapid as compared to other countries in the region. This factor is heavily influencing the growth of sensors developed for automobiles in the country, which is substantially catalyzing the growth of automotive sensors market in Asia Pacific. Japan is another key influential country in Asia Pacific market for automotive sensors. This is due to the presence of huge number of sensors manufacturers constantly developing innovative products for various usage in automotive. Thus, the automotive sensors market is anticipated to witness growth in the APAC region.
Increasing Collaborations between Vehicle Manufacturers and Sensors Manufacturers are Boosting the Automotive Sensors Market
The automotive industry across the globe are constantly facing pressures to integrate their vehicles with advanced electronics and semiconductor components in order to enhance the performance of the vehicles. The rising drift of electrification of vehicles is a major factor boosting the sensors market in automotive industry. Attributing to this, the automobile manufacturers are increasingly partnering with sensors manufacturers to meet the demands of their customers. For instance, in January 2018, Audi AG partnered with ON Semiconductor, to foster On Semiconductor’s innovations and integrate their semiconductors on their newer models, thereby satisfying constantly changing expectations of the consumers in terms of safety, reliability, and performance. The major catalyst for the growth of semiconductors in the automotive industry is attributed to the continuous partnerships between automotive manufacturers and semiconductor manufacturers.
The global automotive sensors market by type is segmented into LED sensor, image sensor, position sensor, temperature sensor, pressure sensor, MEMS, and others. The most prominent type in automotive sensors market accounted for position sensor segment which is due to significant demand for such sensors in automotive industry. LEDs held the second largest market in 2017, and is anticipated to lose its shares during the forecast period from 2019 – 2027.
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Leading Automotive Sensors Market Players:
- Analog Devices Inc.
- Continental AG
- Delphi Technologies PLC
- Denso Corporation
- Infineon Technologies AG
- NXP Semiconductor N.V.
- On Semiconductor
- Robert Bosch GmbH
- Texas Instruments Inc.
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Key Elements that the report acknowledges:
- Market size and growth rate during forecast period.
- Key factors driving the 3D Concrete Printing Market.
- Key market trends cracking up the growth of the 3D Concrete Printing Market.
- Challenges to market growth.
- Key vendors of 3D Concrete Printing Market.
- Detailed SWOT analysis.
- Opportunities and threats faces by the existing vendors in Global 3D Concrete Printing Market.
- Trending factors influencing the market in the geographical regions.
- Strategic initiatives focusing the leading vendors.
- PEST analysis of the market in the five major regions.
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