LONDON--(BUSINESS WIRE)--The global automotive steering angle measurement sensor market is expected to grow by USD 9.6 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Automotive OEMs are deploying sensors in steering systems to provide proper and accurate response and automatically adapt to the vehicle speed. This improves the vehicle’s roll dynamics by keeping the vehicle connected to the road with proper grip and traction. Moreover, the growing demand for safety systems has compelled steering sensor manufacturers to integrate safety systems with their products. These factors are expected to fuel the growth of the global automotive steering angle measurement sensor market during the forecast period.
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As per Technavio, the development of portable steering wheel angle measurement sensor will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Automotive Steering Angle Measurement Sensor Market: Development of Portable Steering Wheel Angle Measurement Sensor
Automotive OEMs are focusing on the development of portable steering wheel angle measurement system using the rate sensor technology. The system uses two different angular rate sensors, attached at two different positions. One sensor is mounted in the vehicle to monitor and analyze movements, while the other is fitted into the steering wheel to monitor and analyze the driver's inputs. This enables the system to work efficiently by providing better feedback and control over the vehicle. The system can also be integrated with multiple sensors to improve signal conditioning and measure vehicle characteristics more efficiently. This trend is expected to have a positive impact on the growth of the market during the forecast period.
“Increasing priority for wireless connectivity in torque sensors and the development of 3D magnetic steering sensors will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Automotive Steering Angle Measurement Sensor Market: Segmentation Analysis
This market research report segments the automotive steering angle measurement sensor market by application (electric power steering and electro-hydraulic power steering) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the automotive steering angle measurement sensor market in 2019, followed by North America, Europe, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to the rapid growth of the automotive market.
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Some of the key topics covered in the report include:
Application
- Electric power steering
- Electro-hydraulic power steering
Geographic Segmentation
- APAC
- Europe
- MEA
- North America
- South America
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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