LONDON--(BUSINESS WIRE)--SpendEdge has been monitoring the global automotive sensors market and the market is poised to experience spend growth of more than USD 14 billion between 2017-2022 at a CAGR of nearly 7% during the forecast period. Request Free Sample Pages.
Read the 105-page research report with TOC and LOE on "The Global Automotive Sensors Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
The concept of the connected car is gaining popularity in the developed economies. The automotive sensor is the center-point of this technology that is implanted within vehicles. This technology ensures that end-users, as well as fleet managers, are updated regarding their vehicles' performance in terms of fuel economy index, on-board diagnostics, emissions, vehicle maintenance, and recalls. This is serving as the primary spend growth driver in the global automotive sensors market. The market spend growth is also being driven by the proliferation of electric cars. In this vehicle, pressure sensors are replaced by magnetic sensors for enhanced battery monitoring and positioning and the detection of various moving components.
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The Top Automotive Sensors Suppliers Enlisted in this Report:
Automotive sensors suppliers are incurring a substantial rise in their R&D expenses to enhance product quality through the development of sensors with longer life and low maintenance services. This is creating an inflationary impact on the automotive sensors market price. On this note, this report has listed the top automotive sensors suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must implement to achieve optimal and cost-effective procurement in this market.
Denso - Denso exercises a strong presence in the US and in the global supply market. It is among those suppliers who are known to offer innovative automotive sensors based on buyer-specific requirements and offer them volume-based discounts on products/components through reduced logistics cost.
Aptiv - This supplier is known to focus on R&D activities to develop innovative sensors that can detect issues or accidents. However, considering this expense as one of the chief accelerators of suppliers’ OPEX, buyers are advised to obtain an agreement from this supplier on the implementation of BOT models. In this model, the supplier receives payment from the buyer on the basis of manufacturing per product. This will help buyers to reduce their ad hoc spend and procurement costs. Also, a BOT model assists in the sharing of operational risks between both parties.
Sensata Technologies - During the negotiation phase with this supplier, buyers are advised to implement the JIT inventory strategy that involves the delivery of products (automotive sensors) to buyers' premises only when they are required, thereby eliminating the need to keep and manage inventory for buyers.
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Some of the key topics covered in this report are:
- Automotive sensors market spend segmentation by region
- Automotive sensors supply market analysis
- Regional spend opportunity for automotive sensors suppliers
- Automotive sensors suppliers cost structure
- Total cost of ownership analysis in the automotive sensors market
- Automotive sensors pricing models analysis
- Category management objectives
- Cost saving opportunities in the automotive sensors market
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