The growing need for automotive position sensors for steering wheel positioning, throttle control, automatic gear selection, and maintaining vehicle stability is largely responsible for the market's expansion. A further factor driving the use of position sensors in advanced driver assistance systems is the rising emphasis on vehicle safety (ADAS). The development of sophisticated hall-effect position sensors, which have wide applications in speed detection for anti-lock brake systems, is another factor driving the market (ABS).
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The Automotive Position Sensor Market is expected to grow at a steady rate of around 14% during the forecast period (2022-2028) majorly due to the popularity of consumer demand for vehicle safety, and demand for more convenient and easy driving options, growing inclination of consumer toward alternative fuel vehicle to reduce GHG emissions.
According to UnivDatos Market Insights (UMI)’ research report “Automotive Position sensor Market”, the market is expected to witness robust growth during the forecast period (2022-2028). The market players are following both organic and inorganic growth strategies to sustain the competitive edge. Public awareness for safety and security has also driven the market growth prominently in the past few years. For instance, The World Forum for Harmonization of Vehicle Regulations had issued some Global Technical Regulation for enriched vehicle safety that include electronic stability control systems and technical requirements for OBD for road vehicles.
Based on the Product Type, the market is divided into multi-axis, angular, linear and others. Linear position sensor holds a prominent share in the automotive position sensor market. The demand for linear position sensors in the automotive application is largely driven by government regulations for safety & efficiency and driver assistance and integration of position sensors in non-commercial vehicles
Based on the Vehicle Type, the market is divided into passenger cars, light commercial vehicle, and heavy commercial vehicle. The passenger car segment holds the largest share by vehicle type. The growth of segment is fueled by rising popularity of electric, hybrid and autonomous vehicles.
Based on the Application, the market is divided into power train, safety & security, body electronics, chassis, others. The Power train segment holds prominent share by application. Stringent emission regulations and fuel-efficiency norms formulated by governments of various countries drives the growth of automotive sensors in powertrain application.
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Asia Pacific to Lead the Market in 2020
For a better understanding of the market adoption of the automotive position sensor industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. Asia Pacific dominated the automotive car sensor market in 2020 and expected to account for highest growth of automotive sensor market in coming years. The main factors which support growth of automotive sensors market in Asia Pacific region is due to large number of population and growth in the production of commercial vehicles, increasing purchasing power of consumer, surging demand for more efficient and safer vehicles, increasing use of electric vehicles and the growing adoption of advanced driver-assistance systems (ADAS) and autonomous cars owing to the stringent vehicle emission standards.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the automotive position sensor market are Analog Devices Inc., Broadcom Inc., Bosch Sensortec Gmbh, Bourns Inc., Continental AG, CTS Corporation, BorgWarner Inc., DENSO CORPORATION, HELLA GmbH & Co, Infineon Technologies AG.
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“Global Automotive Position Sensor Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
1. By Product Type (Multi-Axis, Angular, Linear and Others)
2. By Vehicle Type (Passenger cars, Light commercial vehicle, and Heavy commercial vehicle)
3. By Application: (Power Train, Safety & Security, Body Electronics, Chassis, Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Analog Devices Inc., Broadcom Inc., Bosch Sensortec Gmbh, Bourns Inc., Continental AG, CTS Corporation, Delphi Automotive, Denso Corporation, HELLA GmbH & Co, Infineon Technologies AG)
Key questions answered in the study:
1. What are the current and future trends of the global automotive position sensor market?
2. How the industry has been evolving in terms of platform and revenue generation?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global automotive position sensor industry?
5. What is the customer orientation, purchase behavior, and expectations from the global automotive position sensor market suppliers across various region and countries?
6. What strategic initiatives are taken by the market players in recent years?