Automotive Sensors Market To See Massive Growth By 2022
The global automotive sensor market size is expected to reach USD 36.76 billion by 2022, according to a new study by Grand View Research, Inc. Favorable government regulations for increasing overall passenger security and safety is expected to augment market demand over the forecast period. These products have become an important part of automobiles, and detect physical parameters such as speed and heat and take preventive measures in case of any danger. North America automotive sensor revenue by application, 2012 - 2022 (USD Million) Growing consumer adoption of electric, hybrid and hydrogen fuel-cell-powered motor vehicles is expected to drive demand for battery monitoring. Image sensor-based ADAS systems have become essential for tracking and identifying potential hazards. Additionally, rising number of autonomous vehicles in yielding lower fuel consumption and reduced traffic congestion features in developing countries such as Japan and China is expected t...