Global demand for light vehicle original equipment manufacturer (OEM) automotive sensors is projected to grow 7.4% annually to $14 billion in 2010, more rapidly than vehicle production itself according to a study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Sensor applications are expected to see continued growth, as these technologies continue to be applied in safety and security, drivetrain and emission control applications.
In emerging markets the growth is being driven by the introduction of electronic systems designed to improve safety, efficiency and emissions control. Many of these applications require sensor technologies that have already been perfected in developed markets, and OEMs often select commoditized sensor technologies for use in emerging markets to better control costs.
Additional applications for sensors will be propelled by new products that are either mandated by regulations or market driven. Additionally, tire pressure sensors represents a growing market.
For a copy of the study visit http://www.freedoniagroup.com/justreleased/newindex.htm
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