Sensor market growth will be dictated by an expected increase in demand for electric vehicles. The forecasts that the global market for current, position/speed and temperature sensors, will grow at a CAGR of 25.7% over the 2019 – 2024 time frame, according to Strategy Analytics.
Read MoreBy 2023, worldwide net additions of vehicles equipped with hardware that could enable autonomous driving without human supervision will reach 745,705 units, up from 137,129 units in 2018, according to Gartner, Inc. In 2019, net additions will be 332,932 units. This growth will predominantly come from North America, Greater China and Western Europe, as countries in these regions become the first to introduce regulations around autonomous driving technology.
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