Published On : 11 Sep 2018
In a rapidly changing automobile industry, a rising onus is being put forth by many companies on implementing highly necessary safety features. One way by which such mechanisms can be incorporated into vehicles is in the form of micro-electro-mechanical systems (MEMS). And this is one of the primary factors driving the global dead reckoning sensor systems market.
Moreover, a highly advancing automobile industry coupled with a mammoth production rate has created a huge demand for MEMS and dead reckoning sensor systems too. With strict government norms implemented in various economies regarding vehicle safety, the global dead reckoning sensor systems market is projected expand with leaps and bounds. As several companies are introducing new features that maintain safety of vehicle occupants in recent times, this market could progress at a fantastic pace in future.
In addition, the introduction of autonomous driving is one of the key factors that are predicted to highly contribute to the market’s growth during the forthcoming years. Major car groups are looking at launching their own autonomous driving technologies that have attracted both premium and volume automotive manufacturers, such as Tesla, Audi, Mercedes-Benz, Ford Motor, and BMW. A key potential of the dead reckoning sensor system sales market involves generation of immense business opportunities all over the world along with boosting progress in the automobile industry.
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The dead reckoning sensor system sales market depicts the presence of a highly fragmented competitive landscape. Such competitiveness mainly exists owing to innumerable players operating in this sector, who are fiercely competing with each other to gain maximum revenue. With new companies entering this sector on a regular basis, the competition is expected to increase dramatically during the upcoming years.
Most companies are focusing on increasing product manufacturing capacities and improving product quality. Notable attention is also being imparted on bringing about extensive innovations in the production techniques used to manufacture dead reckoning sensor systems. Participating in mergers & acquisitions, expansion of product portfolios, and achieving product differentiation also are key schemes implemented by many businesses in the global dead reckoning sensor system market. Furuno Electric, u-blox, and Trimble, are key companies operating in this sector.
The global dead reckoning sensor system sales market is mainly spread across the following regions - United States, China, Europe, Japan, Southeast Asia, and India. A high concentration of Asian countries depicts the market to showcase a splendid growth in the Asia Pacific region from an overall perspective. A major reason for Asia Pacific to depict a good growth in this market is owing to the availability of skilled labor and expertise. Apart from Asia Pacific, the global dead reckoning sensor system sales market also depicts a spectacular presence in North America, owing to a strong automobile infrastructure.
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