Global Sensor Module for Automotive Market 2016-2020


Reading time ( words)

Research and Markets has announced the addition of the "Global Sensor Module for Automotive Market 2016-2020"report to their offering.

The global sensor module market in the automotive sector is expected to grow at a CAGR of 6.08% during the period 2016-2020.

The demand for electric cars is increasing because of government promotions of campaigns and a decline in the cost of building electric vehicle batteries. These batteries are expected to cost less than the internal combustion engine in the coming years, thus making consumers shift toward electric cars. The prices of the batteries of electric cars fell by 35% in 2015. This could hamper the oil market and lead to a reduction in the price of sensor modules.

According to the report, sensors help increase the safety of passengers by providing assistance to drivers. Different types of sensors are used in the automotive sector to ensure passenger safety, including anti-collision, anti-lock braking, hall-effect, image, and inertial sensors. These sensors collect data from the car and its immediate surroundings and raise an alarm in case of any expected accident or emergency.

Further, the report states that the market is likely to face challenges in developing countries such as Latin America, Southeast Asia, and Africa due to lack of stringent crash regulations and a low level of awareness among consumers.

Share

Print


Suggested Items

CES Press Kickoff Presentation

01/07/2020 | Nolan Johnson, I-Connect007
On January 5, Editor Nolan Johnson attended the CES press kickoff presentation “2020 Trends to Watch,” which was hosted by CES Vice President of Research Steve Koenig and CES Director of Research Lesley Rohrbaugh. Koenig and Rohrbaugh set the stage for the week with their presentation, answering the question, “What’s happening in the industry?”

Global LED Market Expected to Record a CAGR of close to 17% until 2020

05/26/2016 | Business Wire
This research report titled ‘Global LED Market 2016-2020’ provides an in-depth analysis of market growth in terms of revenue and emerging market trends. The market size is calculated on the basis of revenue generated from four segments, including general lighting, backlighting, automotive lighting, and others.



Copyright © 2021 I-Connect007. All rights reserved.