Latin America’s automotive sensors market is expected to grow to USD 1.13 billion by 2021 at a CAGR of 4.82% over the period 2016-2021. The low cost, compact size, ecofriendly nature, and bulk manufacturing capability are the key drivers that are helping the automotive sensors market grow. The development of new applications for technologies that utilize nano and micro technology will help Spain’s automotive sensor market grow. Increased R&D in the sensor industry is creating opportunities for technological advancements that open up new horizons for sensor applications.
The major trend driving Latin America’s automotive sensor market is miniaturization and improved communication capabilities, which enable their integration into vehicles without interfering with the basic functionalities of the vehicle. Latin America’s growth is mainly attributed to the developing economies in the region, such as Brazil and Argentina. In Latin America, Brazil is the market leader for nano sensors in terms of consumption. The main reason behind this is the upgradation to electric power steering (EPS) systems, as this is one of the largest applications of torque sensors in the automotive sensor.
Latin America’s automotive sensors market is segmented on the basis of type (temperature, pressure, speed, level/position, MEMS, magnetic, gas, and inertial), and application (powertrain, body electronics, vehicle security systems, alternative fuel vehicle, and telematics).
This report gives a detailed study of the Porter’s five forces analysis of the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. The report also covers the market landscape of these players, which includes the key growth strategies and competition analysis.
The report also considers key trends that will impact the industry and profiles over 10 leading suppliers of Latin America’s automotive sensors market. Some of the top companies mentioned in the report are:
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