Impact of Covid-19 Outbreak on Automotive Position Sensors Market

27/lug/2020 11:16:02 Automotive Market Research Reports Contatta l'autore

The development of the automotive industry is accredited to the increased demand in automotive position sensor market. Market Research Future has presented the market report related to the automotive industry aims to analyze the current market scenario better. The automotive position sensor market is anticipated to advance at a CAGR of 8% with a valuation of USD 2 billion by 2022.

The escalation in technological development and revolutionized automotive industry through automation and digitization is expected to increase the market share significantly over the years. A position sensor is a device that detects, measures, and records the physical movement of an object and translates into translating it into signals that get suitable for processing, transmission, and control. In an automotive, a position sensor is a combined part of the vehicle that serves various applications such as light position sensors, seat position sensors, motion shaft position sensors, motor shaft position sensors and more.

Driving Factors: Automotive Position Sensor Market

The increasing and continuous developments and innovations in technology, the demand for electronic sensors for these position sensors in the automotive market is more. Hence, the market for automotive position sensors is anticipated to witness significant growth during the forecast period. In recent times, the changing focus of the automotive industry to technological trends such as electrification, autonomous driving and more has boosted the demand in the automotive position sensors market.

At the same time, the manufacturer’s inclination towards integration of position sensors in vehicles portray a positive outlook of continuous growth in the automotive position sensor market. While increasing stringent government regulations regarding automobile safety and global car production have also significantly contributed to the growth of the market.

In addition, growing automotive industry, especially in the developing regions, has been highly helpful in improving the subject detection and automatically improving measures in more development, which is, in turn, is expected to be the key driver for the automotive position sensor market. Rising environmental and health apprehensions have led to introducing stringent emission norms in several countries. This concern has made a rapid adoption of emission norms which eventually helped the automotive position sensors to increase, hence stimulating the automotive position sensor market over the years having a promising future in the years to come.

Automotive Position Sensor Market: Market Segmentation

The automotive position sensor market has segmented on the type, vehicle type, and high end.

By mode of type, the market, as in reports have been segmented into multi-axis, angular, and linear.

By mode of vehicle type, the market has been segmented into high end, mid end, low end and electric.

Automotive Position Sensor Market: Regional Analysis

The regions covered in MRFR’s report on automotive position sensor market include North America, Europe, Asia-pacific and rest of the world.

North American and Europe are poised to lead the market and retain its leadership over the forecast period. The presence of several leading market players in these regions are actively developing and adopting technologies to integrate with automotive position sensors is likely to drive the market significantly.

Meanwhile, the Asia-Pacific region is likely showing high potential mainly due to the increase in the number of passenger vehicles operating in this region.

Market Key Players

Some of the key players in the Automotive Position sensor market are Analog Devices Inc, Avago Technologies, Bosch Sensortec GMBH, Bourns Inc, Continental Corporation, CTS Corporation, Delphi Automotive, Denso Corporation, GE Measurement & Control Solutions, Gill Sensor& Control, Hella KGAA, Infineon Technologies, NXP Semiconductors, Sensata Technologies, TRW Automotive INC, Stoneridge INC.

Industry News

27 November 2018 -Melexis has announced a new member to its third-generation magnetic sensor family, the MLX90378, which provides robust absolute 3D position sensing for automotive applications including transmission sensors and gear shifters.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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