Global Automotive Sensor Demand to Exceed $25.8 Billion by 2021 says Strategy Analytics - WDAM - TV 7 - News, Weather and Sports

Global Automotive Sensor Demand to Exceed $25.8 Billion by 2021 says Strategy Analytics

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

SOURCE Strategy Analytics

Automotive Sensor Growth Driven by Advanced Safety Systems and Powertrain Electrification

BOSTON, May 21, 2014 /PRNewswire/ -- The new Strategy Analytics study: "Automotive Sensor Demand Forecast 2012 to 2021: Growth Driven by Safety and Electrification," predicts that the market for automotive sensors will grow at a CAGR of 5.9% - expanding from $18.1 billion in 2013 to $24.1 billion in 2018.  This report details the growth of automotive sensor demand driven by growing demand for safe, fuel efficient and clean vehicles worldwide.

Strategy Analytics

Planned vehicle safety, emission and fuel economy enhancements will drive automotive sensor shipments to over 5.7 billion units and be worth over $25.8 billion in 2021.

"Global automotive sales continue to rebound from economic downturn - especially in NAFTA and the emerging BRIC regions.  This, combined with vehicle makers increasing use of sophisticated electronic systems to create vehicles that are safer, fuel efficient and environmentally friendly is creating a demand for a higher number of sensors per vehicle," says the author of the study, Mark Fitzgerald, Associate Director, Automotive Practice.

"Emerging market growth is fueled strongly by increasing vehicle production, as well as greater electronic content," commented Ian Riches, Director, Global Automotive Practice.  "In established markets, growth is more concentrated on high-technology solutions such as electric and hybrid-electric vehicles and advanced driver assist safety systems (ADAS)," he added.

About Strategy Analytics

Strategy Analytics, Inc. provides the competitive edge with advisory services, consulting and actionable market intelligence for emerging technology, mobile and wireless, digital consumer and automotive electronics companies. With offices in North America, Europe and Asia, Strategy Analytics delivers insights for enterprise success. www.StrategyAnalytics.com 

US Contact: Mark Fitzgerald, +1 617 614 0717, mfitzgerald@strategyanalytics.com

European Contact: Kevin Mak, +44 1908 423644, kmakl@strategyanalytics.com

Logo - http://photos.prnewswire.com/prnh/20130207/NE56457LOGO-b

©2012 PR Newswire. All Rights Reserved.