The latest study from market research specialist Strategy Analytics, "Automotive Sensor Demand Forecast 2006 to 2015," predicts that the market for automotive sensors will reach $12.7 billion in 2008, an increase of 6.5 percent over the previous year. The market, which the report projects to reach $18.1 billion by 2015, will be driven by requirements in vehicle safety, performance, and feature enhancements. The market for light vehicles is forecast to grow at a compound annual adjusted growth rate (CAAGR) of 4 percent from 2006 to 2012, while the growth in automotive sensors is expected to be a 6.8 percent CAAGR, as carmakers respond to tightening environmental, fuel mileage and safety legislation as well as consumer expectations.
According to Mark Fitzgerald, Senior Analyst, Automotive Practice, for Strategy Analytics, "Vehicle makers are using sophisticated electronic systems to create vehicles that are more safe, fuel efficient, and environmentally friendly - creating a demand for a higher number of sensors per vehicle."
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