ADVERTISEMENT

Global Automotive Gear Position Sensor Market 2019-2023 | 9% CAGR Projection Over the Next Five Years | Technavio

LONDON--(BUSINESS WIRE)--Jul 23, 2019--

The global automotive gear position sensor market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190723005627/en/

Technavio has announced its latest market research report titled global automotive gear position market 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global automotive gear position sensor market size is the increasing demand for shift-by-wire technology. With the increase in the adoption of automatic transmission systems, the demand for shift-by-wire technology is increasing significantly. A shift-by-wire system uses an actuator for transmission, allowing the gear shift to be actuated using digital controls such as lever, buttons, or rotary shifters. Thus, several prominent vendors in the automotive industry are adopting the shift-by-wire technology in their models. Thus, the rising demand for shift-by-wire technology will have a positive impact on the growth of the global automotive gear position sensor market size during the forecast period.

As per Technavio, the development of triple-clutch transmission system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive gear position sensor market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Automotive Gear Position Sensor Market: Development of Triple-Clutch Transmission System

Continuous R&D related to automatic transmission has led to the development of a triple-clutch automatic transmission system. Several automotive OEMs are working on the commercial validity of the triple-clutch transmission system. These systems use advanced software and machinery to keep the engines reviving at point of maximum efficiency and minimum wastage. These systems also use intelligent ECUs and sensors, which makes them smarter. Thus, the development of the triple-clutch transmission systems is expected to fuel the growth of the market during the forecast period.

“Apart from the development of triple-clutch transmission system, other factors such as the advancements in digital circuitry, and the growing popularity of EV transmission systems will have a significant impact on the automotive gear position sensor market growth during the forecast period,” says a senior analyst at Technavio.

Global Automotive Gear Position Sensor Market: Segmentation Analysis

This market research report segments the global automotive gear position sensor market size by application (automatic transmission, and manual transmission) and geographic regions (APAC, North America, Europe, South America, and MEA).

The APAC region led the automotive gear position sensor market in 2018, followed by North America, Europe, South America, and MEA respectively. The automotive gear position sensor market report identifies the rising demand for automatic transmission systems, and the increasing purchasing power of consumers as factors contributing to the growth of the market in APAC.

Looking for more information on this market?Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

View source version on businesswire.com:https://www.businesswire.com/news/home/20190723005627/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 07/23/2019 10:05 AM/DISC: 07/23/2019 10:05 AM

http://www.businesswire.com/news/home/20190723005627/en

Bg pattern light

UPGRADE TO PREMIUM

Subscribe to Samoa Observer Online

Enjoy access to over a thousand articles per month, on any device as well as feature-length investigative articles.

Ready to signup?