At A CAGR Of Over 6%, Automotive Sensors Market Is Projected To Reach USD 36.41 Billion By 2024
Global Automotive Sensors Market is projected to reach USD 36.41 Billion by 2024, at a CAGR of over 6% during 2014-2024 due to increasing automobiles production, growing technological advancements, stringent government regulations for safety, increasing demand for vehicle electrification and growing consumer demand for sensors. Based on application, the market has been segmented into Powertrain, Body Electronics, Chassis, Telematics and Others. The telematics market segment is expected to dominate the market during the forecast period due to growing demand for infotainment applications, increasing use of sensors in navigation, growing technological advancements and growing demand for connected cars. APAC region is expected to observer the highest growth rate during the forecast period due to infrastructure development, increase in purchasing power of the consumer and increasing demand for more safe vehicles. Furthermore, presence of developing countries such as India a...