Global Automotive Gear Position Sensor Market 2019-2023 | Development of Triple-Clutch Transmission System to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 25, 2019--
The global automotive gear position sensor market is expected to post a CAGR of nearly 9% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191025005175/en/
Technavio has announced its latest market research report titled global automotive gear position sensor market 2019-2023. (Graphic: Business Wire)
The growing adoption of automatic transmission system has significantly increased the demand for the shift by wire technology. Luxury car manufacturers such as Audi, BMW, and Daimler are increasingly adopting this technology in their car models. During the forecast period, automatic transmission systems are expected to be adopted in a wider segment of vehicles. This is expected to fuel the demand for shift by wire technology and subsequently drive the growth of the market.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR31723
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 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
Consistent R&D efforts in the automobile industry have led to the development of the triple-clutch transmission system. The triple-clutch transmission system uses advanced software and machinery, intelligent ECUs, and sensors to improve the efficiency of engines. Prominent automobile manufacturers such as General Motors, Honda Motor Co., and Ford Motors are making significant investments in the development of triple-clutch transmission systems. This trend among automakers is expected to boost the growth of the global automotive gear position sensors market during the forecast period.
“Apart from the development of triple-cutch transmission system, the growing popularity of electric vehicle (EV) transmission system and digital circuitry integrating advanced algorithms for faster gear shifts are some other major factors that will boost market growth during the forecast period”, says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 10,000+ market research reports.
Global Automotive Gear Position Sensor Market: Segmentation Analysis
This market report segments the global automotive gear position sensor market by application (automatic transmission and manual transmission) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the rapid economic development and increased per-capita income in the region.
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 ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191025005175/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: TECHNOLOGY LUXURY AFTERMARKET AUTOMOTIVE AUTOMOTIVE MANUFACTURING MANUFACTURING OTHER AUTOMOTIVE SOFTWARE RETAIL
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 10/25/2019 07:00 AM/DISC: 10/25/2019 07:01 AM