COVID-19 Impact on Automotive Sensor in Semiconductors and Electronics Industry
Currently, however, the factories are beginning to reopen in almost every country by taking some prevention such as 20%- 50% field workers, social distancing, drastic hygiene steps and others to help the economy. It strengthens the economy and tends to bring down the rate of contraction at any stage.
COVID-19 highly impacted the transportation of public. During time of social distancing, travelers were asked to avoid travel unless it's completely necessary. Also the behavior of the individuals have certainly changed in the pandemic, people are now more concerned towards their health and spending for future use due to incurred losses which leads to decrease in the sale of automotive vehicles.
Sensors are used to minimize fuel consumption and reduce onboard weight of vehicles. Thus increasing/decreasing demand for automotive vehicles directly impacts the demand for automotive sensors. COVID-19 has had a severe impact on the global automotive sensors market.
Due to lockout initiatives, the poor demand for electronic, specialized products had a major effect on the market for automotive sensors. It is also expected that the ongoing decrease in demand and exports for motor vehicles will adversely affect the market for automotive sensors.
IMPACT ON DEMAND AND SUPPLY CHAIN
The pandemic brought a huge drop in sales for the automotive sensor market as the lockdown prevailed in most of the regions. The lockdown led manufacturers and consumers to completely stop the processes for few months. The demand for automotive sensor market faced drastic downfall due to shut down of various automobile, airlines, transport and electronic industry.
However the things are getting normal day by day, government is taking initiatives to unlock business step by step. Post COVID-19 automotive sensor market will see an increased demand.
The pandemic has also a huge impact on the supply chain of automotive sensor market. The supply chain was adversely affected as the lockdown prevailed in many regions globally, government has limited the workers. Companies are making their operation work according to the government regulations by making limited workers work in different shifts.