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Published on : May 19, 2016

ALBANY, New York, May 19, 2016: A new report, titled ‘Global Sensor Module for Automotive Market 2016-2020,’ featured on ResearchMoz.us states that the global market is expected to expand at a 6.08% CAGR during the period of 2016 to 2020 owing to the rising need for safety while driving and the growing demand for electric cars. 

A sensor module is primarily made up of a cover, sensor, and wiring unit. The cover is utilized to hold the sensor in its place and comprise a connector that creates a connection with any external device. The cover is also used to hold the wiring unit that is attached to the sensor from the connector. The cover is made up of mold materials. The wiring primarily includes a secondary connecting terminal that is joined with the primary connecting terminal. Sensor modules help increase the security and safety of passengers by offering driving assistance. Various kinds of sensors such as anti-collision, hall-effect, image sensors, inertial sensors, and anti-lock braking sensors are used in the auto sector to assure passenger safety. 

The global sensor module for automotive market is segmented on the basis of region, application, and vehicle type. By region, the global sensor module for automotive market is divided into EMEA, Asia Pacific, and the Americas. Continental AG, Delphi Automotive plc, DENSO Corp., Infineon Technologies AG, NXP Semiconductors, First Sensor, Heraeus Sensor Technology, National Instruments, and SHINYEI Technology are some of the leading companies operating in the global sensor module for automotive market. With the entry of new companies, the global sensor module for automotive market is expected to be highly competitive in the years to come. 

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The lack of security regulations and the lack of consumer awareness in underdeveloped countries are expected to hamper the growth of the global sensor module for automotive market in the near future. However, the rising demand for electric cars and the incorporation of advanced technologies are expected to benefit the global sensor module for automotive market.  

By application, the global sensor module for automotive market is classified into power train and engine control, safety and chassis control, and others. By vehicle type, the global sensor module for automotive market is classified into passenger cars, commercial vehicles, and others. 

Thanks to the increasing government campaigns and the declining cost of manufacturing electric vehicles, their demand is expected to increase in the coming years. Considering the environmental benefits, many people are shifting their preferences from traditional vehicles to electric and battery-operated ones. The fall in the prices of auto batteries has also assisted the electric cars segment to register more demand. This is expected to hamper the global oil market and in return lead to the reduction in prices of sensor modules. 

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