Rapid increase in average vehicle age has been creating incremental growth opportunities for the automotive sensors market across the globe. According to the latest trend, increasing customer-base preserving their old cars as second option has been contributing significantly towards production sales of automotive sensors across the globe. Apart from this, increasing vehicle age has been driving the need for maintenance and repairs as well as replacement of parts and this also fuelling the growth of aftermarket for sensors across the globe.
A research firm carried out a major study on the automotive sensors market’s report and the related analysts delivered facts as well as figures based on the detailed analysis regarding the automotive sensors market across the world. Therefore, report on the automotive sensors market illustrates that the global market is likely to develop at a healthy 7.6% CAGR over the assessment period, 2018-2028, for attaining a value of approximately US$ 39Bn by 2028-end.
The major companies that are operating in the automotive sensors market are Continental AG, STMicroelectronics N.V., Elmos Semiconductor AG, Sensata Technologies Holding N.V., Panasonic Corporation, and NXP Semiconductors N.V., HELLA GmbH & Co. KGaA and Robert Bosch GmbH amongst others. Manufacturers and the major companies are working on initiating strategies, which is inclusive of increasing product portfolio as well as innovation of the developing and existing products, which exclusively would be favorable for end-users.
Continental AG & Nvidia Corp to Introduce Self-Driving System
The major companies along with manufacturers must take account of the point that Continental AG and Nvidia Corp are together planning to introduce self-driving system with the help of artificial intelligence platform of the U.S. chipmaker. The drive platform of Nvidia Corp is likely to benefit with autonomous driving as it is pervasive in the industry. The notable point for the emerging players is that Nvidia Corp is mainly beneficial with regards to graphics chips.
Another important information to be noted is that the automakers as well as their suppliers have been entering into collaborations for sharing the high costs that would result from developing the self-driving cars. Continental AG and Nvidia Corp are planning to incorporate a wide-ranging Continental sensors, which will be taking place soon after certain collaborations between the engineering teams of both companies.
Continental AG Plans to Introduce Aquaplaning Alert System
The major companies along with manufacturers must take account of the point that the engineers of Continental AG are planning to develop aquaplaning alert system. This system is said to utilize signals from the nearby cameras as well as electronic sensors that are tire-mounted. Customers must note the point that these sensors help in remaining alert while driving as well as engages active stabilization measures.
Aquaplaning alert system helps in detecting early aquaplaning phase for alerting the driver regarding the condition of the tires. This mainly helps automated vehicles or the drivers to adjust their speed suitably, especially to the wet road conditions. Customers can take note of the point that the system that has been developing named “Road Condition Observer” will be supremely beneficial and safe for driving purposes.
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