According to Research and Markets that the global automotive MEMS sensor market was valued at $2,600.5 million in 2014, and it is expected to grow at a CAGR of 6.0% during 2015-2020. And the passenger car market is growing in India and China.
Research and Markets pointed that the passenger car market is growing at the fastest pace in Asia-Pacific. The increasing middle class population, upsurge in urbanization and strengthening transportation infrastructure in developing countries, such as India and China, raised the demand for passenger cars in Asia-Pacific to a record height in 2014.
The passenger car market in China has witnessed a double-digit growth rate during the past few years. Currently China accounts for about 17.9 million vehicles, despite its slightly lower economic growth, while the automotive sector in the country is expected to witness robust growth during the next five to six years.
The increasing adoption of the advanced driver assistance system (ADAS), and growing need for inter-vehicle communication (connected car), has increased the number of sensors integration in automobiles.
The automotive MEMS sensors market is highly consolidated. The MEMS sensor manufacturing companies are heavily emphasizing on the growing sales of passenger cars, with sensing technologies designed for the vehicle and driver safety.
North America and Europe remains the two largest markets for automotive MEMS sensors, while Asia-Pacific along with Rest of the World regions have witnessed a comparatively higher growth rate in the past few years.
The growth in the Asia-Pacific region is led by China and India. Brazil is largest and fastest-growing regional automotive MEMS sensor market in the Rest of the World region.
