Orion Market Research (OMR) recently published a market research report on Global Automobile Sensor Industry. The market is estimated to show a considerable growth due to rising demand of comfort and safety in the vehicle globally. The global Automobile sensor Industry is segmented into by sensor type, by sensors in driverless cars and by vehicle type. The report provides detailed and insightful chapters which include market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
Browse at Full Report: Global Automobile Sensor Industry
A system that can measure any physical, temperature and chemical change in an automobile and sends the signal to a further processing unit (Actuator or ECU) is known as automobile sensors. A sensor enables in the optimization of fuel and energy, which further enhance on to ride experience. Factors which are augmenting the Automobile sensor Industry are significant growth in automobile sector especially in luxury car segment, rising need of curb road accidents, increasing consumer demand for safety and comfort, favorable government policies towards automobile sensors, and growing automation in the automobile sector. Additionally, huge investment in the autonomous car market is also driving the market growth.
High number of road accident is one of the major reason for the introduction of new technology in the vehicles. Major one which is the self-driving vehicle, additionally a number of technologies are used to curb the damage due to road accident known as active and passive safety system. Active safety systems are used to dodge road accidents which includes Head-Up Display (HUD), Anti-Lock Braking Systems (ABS), Electronic Stability Control (ESC), Tire Pressure Monitoring System (TPMS) and so on. The passive safety system is utilized to control the damage after a collision/ accident. The active safety system includes Airbag, Seat Belt, Child Safety System, Pedestrian Safety System and so on. Apart from this much measures, Automobile accidents have a significant share of overall mortalities globally.
According to Insurance Institute for Highway Safety, Highway Loss Data Institute in the US, about 35,100 people died in 2015 in road accident in 32,150 crashes involving 48,950 vehicle and mortalities were 7% higher as compared to 2014. Out of this, about 64% of the death were passenger vehicle occupants, 15% were pedestrian, and 13% were motorcyclist. A similar trend can be observed in Canada. As per Transport Canada, the injury rate of Canada is 450 per 100,000 people whereas mortality rate is 5.2 per 100,000 in 2015. The number of fatalities in 2015 was 1,670. About 50% of the total facilities were faced by the drivers and 20% by the passenger. As per Ministry of Road Transport and Highways of India, in the calendar year of 2016, about 480,000 road accidents were reported in the country. It caused mortalities to 150,000 people and about 500,000 people reported an injury. About 46% percent of the total mortalities were in the age range of 18-35 years. Rising number of road accident, a trend toward safety can be expected which will lead to the adoption of new technologies in active and passive safety and their electronic system. It will lead the Automobile sensor market during the forecast period globally.