Product Innovation to Drive the Automotive Temperature and Humidity Sensors Market till 2020

Today’s vehicles feature highly complex and sophisticated electronics control systems. A majority of innovations in the automotive sector has been solely possible through electronics and the use of advanced sensors. In the past two decades, market research studies show that there has been an increasing deployment of sensors in the automotive industry.

In 1990, the global market for sensors was estimated at US$2 billion. The market steadily expanded approximately to US$10 billion in 2006 with a double-digit year-on-year growth and reached over U$15 billion in 2012. The application of sensors in the automotive industry has significantly fueled the growth of the world sensors market.

Automotive Sensors Market to Double in Value by 2020

One of the promising sectors in the automotive sensors market is the automotive temperature and humidity sensors market. The global market for automotive temperature and humidity sensors, according to a market research firm, will reach a value of US$2100 million by 2020, and will double in value to approximate US$1000 million by 2013. A marked double-digit growth will be demonstrated by the global automotive temperature and humidity sensors market during the forecast period of 2012 to 2020.

On the basis of application, the global automotive temperature and humidity sensors market is segmented into body electronics, power train, and alternative fuel vehicle (AFV). According to technology type, the global automotive temperature and humidity sensors market is classified into MEMS (Micro-Electro-Mechanical Systems), CMOS (Complementary Metal-Oxide Semiconductor), and TFPT (Thin-Film Polymer Technologies).

Drivers and Restraints Shaping the Global Automotive Temperature and Humidity Sensors Market

The global automotive temperature and humidity sensors market benefits from the rising global sales of light vehicles. Furthermore, the growth of electronic content per vehicles is driving the automotive temperature and humidity sensors market worldwide. Market players are tapping on to the opportunity of increasing demand of electronic vehicles, which will further drive this industry. The demand for electric vehicles is especially high in emerging regions of Asia Pacific, which further supports the automotive temperature and humidity sensors market growth.

On the other hand, unavailability of a comprehensive aftermarket is somewhat constricting the global automotive temperature and humidity sensors market. One major challenge that the automotive temperature and humidity sensors market needs to overcome is the ineffective collaboration between tier 1 supplier and semiconductor manufacturers and OEMS.

Players Compete on the Basis of Innovation in Technology

Some of the top key players in the global automotive temperature and humidity sensors market are STMicroelectronics, Robert Bosch, NXP Semiconductors, Continental AG, and Texas Instruments. Companies in the global automotive temperature and humidity sensors market compete on the basis of technology and innovation, quality and reliability, support, and cost effectiveness. However, companies that adopted product innovation as their key growth strategy are now leading the global automotive temperature and humidity sensors.

Since the lack of an aftermarket is restraining the global automotive temperature and humidity sensors market, in future, support will become a strategic asset in this industry. The demand for replacement parts and accessories in the automotive sensors aftermarket will help aftermarket suppliers thrive in this industry.

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