The global automotive fuel level sensor market is expected to grow at a CAGR of close to 2% during the period 2017-2021, according to a new market research study by Technavio.
This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171127005779/en/
Technavio has published a new market research report on the global automotive fuel level sensor market from 2017-2021. (Graphic: Business Wire)
The report categorizes the global automotive fuel level sensor market by type of sensors that include resistive fuel level sensor and capacitive fuel level sensor. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the thirdfor free.
Market driver: increasing demand for telematics to monitor fuel
The increase in the theft of fuel and the necessity for real-time fuel monitoring has led to the development of fuel level sensors equipped with GPS tracking system. The GPS-enabled fuel level sensor is the latest offering in the global automotive fuel level sensor market and is a factor that is driving the market. A person can track his or her vehicle's fuel level from any place at any point in time using these GPS-enabled fuel level sensors. The GPS-enabled sensor is connected to a tracking device that transmits signals to satellites. These satellites send responses to the vehicle owner's mobile phone or a computer.
According to Ganesh Subramanian, a lead analyst at Technavio for automotive electronics research, "The need to reduce the fuel expenses in the logistics sector has stimulated the demand for telematics. Fleet management services enabled by telematics have evolved with time. Traditional fleet management solutions offered basic telematics services such as fleet tracking with global positioning system and geographical information systems. Currently, fleet management solutions provide features such as vehicle management, load monitoring, driver management, logistics management, among others. This increasing demand for telematics fleet management has positively impacted the global automotive fuel level sensor market."
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 including the market size and forecast, drivers, challenges, trends, and more.
Market trend: growing acceptance of the sensor technology
The demand for sensors has been growing since the last few years. Within a short period, sensors have received widespread adoption in the automotive industry. A smart sensor consists of integrated circuits (IC), which processes the received data as input. The output from smart sensors is much more reliable due to the compensation provided for differential environmental factors. The data processed by sensors is assigned a unique identifier that is transmitted through the Internet or other similar networks. Fuel level sensors connected with GPS to monitor fuel level have high demand in the market. The micro-electromechanical systems (MEMS) and nano-electromechanical systems (NEMS) technologies have made more compact smart sensors.
Market challenge: effect on working capital due to low profitability
APAC accounts for the largest production of automotive components across the world. Low labor cost in Asian countries has caused several renowned and established OEMs to set up their manufacturing plants in the region. Low labor costs helped OEMs to optimize production costs and maintain a good profit margin. But, these Asian countries are gradually losing this cost advantage as the labor cost is increasing. This rise in labor cost is affecting the production costs, and OEMs are not able to make much profit. Manufacturers are operating at low profits and this is affecting their working capital. As a result, OEMs are negotiating with raw material vendors with an aim to minimize raw material costs so that they can offer automotive sensors at competitive prices in the market. Thus, skewed profit margins, thinning working capital, and the struggle to offer sensors at low cost and survive in the competitive market have become major challenges for sensor manufacturers.
Is your business on track for a successful future? Learn how Technavio can help
Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.
Key vendors in the market
- Bosch
- Delphi
- Continental
- Omnicomm
- MSIL
- Sensata Technologies
The global automotive fuel level sensor market is highly fragmented. Many global and local manufacturers are present in the market. Nevertheless, global players have a strong brand name and are giving tough competition to local players in terms of price and quality. The competitive market should intensify with an increase in the utilization of sensors, arising from increasing government regulations and consumer's demand for safety and advanced features.
Get a sample copy of the global automotive fuel level sensor market report free of cost
Access Technavio's continuously growing automotive electronics research library and find expert analysis on hundreds of markets.
About Technavio
Technaviois 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 media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171127005779/en/
Contacts:
Technavio Research
Jesse Maida
Media Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com