Bosch says it has seen a surge in demand from OEMs for radar systems and video sensors as fitment of advanced driver assistance systems (ADAS) continues to rise.
The company says it expects sales of radar systems to rise by 60% this year; video sensor products are forecast to grow by 60%.
Bosch also forecasts that sales at its mobility solutions division, which makes sophisticated safety systems as well as autonomous car components, will grow around 7% this year, nearly three times as fast as global automotive production.
Last year, the mobility solutions division – which employs 227,000 staff – made EUR43.9bn in sales.
"We are growing faster than the market and, as an automotive systems supplier, will remain a strong and above all innovative partner of the automotive industry. Moreover, we are evolving into a provider of services for every road user," says Dr. Rolf Bulander, Bosch board member and chairman of the Mobility Solutions business sector.
Bosch also says it will be reinforcing the Mobility Solutions business sector's research and development efforts over the course of the year. By the end of 2017, the business sector will employ 48,000 R&D associates, roughly 4,000 more than at the start of the year.