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Category:
Business
Tags:
Automotive Gear Position Sensor Market Size, Automotive Gear Position Sensor Market Share, Automotive Gear Position Sensor Market Price, Automotive Gear Position Sensor Market Trends, Automotive Gear Position Sensor Market Report
Market Outlook The global automotive gear position sensor market is expected to grow at a CAGR of 10% during the forecast period of 2019-2024 to attain a value of more than USD 4 billion by 2024. The market is witnessing a healthy growth due to the increasing demand for shift-by-wire technology that uses actuators for transmission, thus improving the efficiency and reducing the weight of the vehicles. Asia Pacific holds the largest market share in the market as a result of growing demand for automatic transmission in the region.
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