Automotive Industry lead the market by holding the
maximum share of 23.38% in 2016
Automotive industry generated a revenue of $4.85 billion in 2016
and is expected to grow with highest CAGR of 19.1% during the
forecast period. This is due to the extensive use of automatic
climate control in vehicles, which is achieved by using smart
sensors which help control the cooling systems and improve
passenger comfort. Moreover, the products are assembled within
the air-conditioned seats to control humidity and temperature and
help reduce the overall energy consumption in the vehicles.