Date of Publication: May 2, 2016
The global market for automobile sensors reached nearly $23.5 billion in 2015, $26.3 billion in 2016, and should reach $43.4 billion by 2021, a five year compound annual growth rate (CAGR) of 10.6% from 2016 to 2021. In modern automobiles, different types of sensors are needed for many important tasks, ranging from engine performance and passenger safety to comfort and vehicle dynamic behavior. The need for sensors is continuously evolving and growing. The application market for automotive sensors covers power train, body electronics, vehicle security system, safety and control. The increasing demand of Advance Driver Assistance Systems (ADAS) and hybrid and electric vehicles are the future opportunities for automotive sensors. Sensor technologies like micro-electromechanical systems (MEMS) sensor, wireless sensor, radar, etc., are the future of automotive sensors. Of these, MEMS is the most promising and is likely to emerge as a leader in the automotive world.