The new Strategy Analytics study, “Automotive Sensor Demand Forecast 2004 to 2013,” predicts that the market for automotive sensors will reach $11.2 billion in 2007, reflecting year-on year growth of 10.7%. The company expects that planned vehicle safety, performance and feature enhancements will drive demand for automotive sensor shipments to more than 3.4 billion units worth $17.1 billion by 2013.
Light vehicle production is expected to grow at a compound annual growth rate (CAGR) of 3.6% from 2005 to 2010. Over the same period, Strategy Analytics expects automotive sensor revenues to grow at a CAGR of 9.8% as carmakers respond to tightening environmental, fuel mileage and safety legislation as well as consumer expectations, by introducing electronically controlled innovations for enhanced performance, comfort and convenience.
“Vehicle makers are using sophisticated electronic systems to create safer, more fuel efficient and environmentally friendly vehicles, creating demand for a higher number of sensors per vehicle,” said Mark Fitzgerald, senior analyst in Strategy Analytics’ Automotive Practice.
As reported earlier (Auto E-lectronics, April 12, 2007), IC Insights' 2007 Optoelectronics, Sensors and Discretes (O-S-D) report said that growth in automotive electronics is helping to drive the market for semiconductor sensors and actuator devices at about twice the rate of IC sales. It forecasts 19% growth this year to $6.3 billion after climbing by nearly 18% to $5.3 billion in 2006. It expects the market to reach $12.7 billion by 2011, reflecting a 30% cumulative average growth rate between 2001 and 2011.
IC Insights said automotive applications are expected to account for about 37% of sensor/actuator sales by 2011 compared with more than 60% a few years ago.