Automotive Sensors to Benefit from Increasing Electronic Content in Automobiles Supported by Connected, Smart & Autonomous Car Trends & Emerging Safety Standards
The global Automotive Sensors market is projected to reach US$27.6 billion by 2024 , driven by increasing electronics content in automobiles supported by connected, smart and autonomous car trends as well regulatory mandates for safer vehicles that push up the importance of sensors and their performance in meeting emerging safety standards. Automotive industry has always been characterized by technology developments and innovations, which have been critical to the development and success of new vehicle models. Right from the use of microprocessors in car engines in the 1960s, and introduction of information-based capabilities in automobiles in the 1990s, to the concept of smart cars, which had taken the industry by storm in 2000s, the innovation streak continues to flare up a world of opportunities for the automotive sector. While the use of microprocessors in engines and drivetrains for improved braking, better stability, and driving comfort, announced the arrival of electronic tec...