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Report examines growth in UK market for automotive sensors
New technology applications for miniaturised sensors in automotive applications is creating considerable growth within the UK.
A report has been made available from Research and Markets on the growth and trends in the UK automotive sensor market through until the end of the decade. With the market volume expected to reach close to 1 billion US dollars by 2018, the report is outlooking a Compound Annual Growth Rate (CAGR) of 7.47% during the period from 2014 through until 2020.
Quoting low cost, compact footprint, a capability for sustainable manufacturing in high volumes and an energy efficient supply base as key drivers in the projected growth, the report sees high potential in a number of areas requiring the use of micro and nano-technology sensor applications during the remainder of the decade.
The growth in communications technology which characterises the driverless and connected vehicles of the future as well as the higher demand for state-of-the-art infotainment products is creating significant technology changes in the automotive sensor market with integration without interference being a key aspect of its success, according to the report.
The current state of the UK automotive industry is highly promising, having recovered from the recession and having enjoyed considerable Government support. The nation’s transformed industry is now the 4th largest vehicle producer in Europe with over a million and a half vehicles having been manufactured in 2012.
The report can be purchased directly from the Research and Markets website here: U.K. Automotive Sensors Market – Growth, Trends & Forecasts (2014-2020)