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Automotive sensor market to grow $17B by 2013

Posted: 04 May 2007 ?? ?Print Version ?Bookmark and Share

Keywords:automotive sensor market? automotive market? light vehicles?

A new study from Strategy Analytics forecasts that market for automotive sensors will reach $11.2 billion in 2007, a year-on-year growth of 10.7 percent.

The study entitled "Automotive Sensor Demand Forecast 2004 to 2013" showed that planned vehicle safety, performance and feature enhancements will drive the demand for automotive sensor shipments to over 3.4 billion units worth $17.1 billion.

According to the study, light vehicle production is expected to record a CAGR of 3.6 percent from the years 2005 to 2010. Over the same period, the firm expects automotive sensor revenues to register CAGR of 9.8 percent, as carmakers respond to tightening environmental, fuel mileage and safety legislation as well as consumer expectations, by introducing electronically controlled innovations for enhanced performance, comfort and convenience.

"Vehicle makers are using sophisticated electronic systems to create safer, more fuel efficient and environmentally friendly vehicles, creating demand for a higher number of sensors per vehicle," says Mark Fitzgerald, senior analyst, Automotive Practice.

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