The global automotive camera sensor market size was valued at USD 2231.02 Mn in 2021 and is expected to reach USD 5151.04 Mn by 2028, recording a CAGR of 11.0% during the projection period.
Their special color-detection capacity, which also allows them to read stop signs and perceive traffic lights, is what drives the market. Camera sensors are the best choice for many ADAS applications since they are less expensive than LiDAR and RADAR. Camera sensors are increasingly being used as the “basic sensor” by many manufacturers due to how considerably less expensive they are. These sensors are used in traffic sign recognition, park assistance, pedestrian detection, and night vision. These major advantages all contribute to the growing market.
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One of the prime contributors to the need for car sensors is autonomous driving. The majority of the automotive sensor industry is expanding along with the total automotive market. The main driver of the increased demand for automotive sensors is the widespread deployment of ADAS and AD systems. The majority of the market growth for automotive sensors is attributed to sensors used in ADAS/AD systems, such as image sensors, temperature sensors, position sensors, speed sensors, etc.
On the basis of vehicle type, the global automotive camera sensor market is segmented into passenger cars and commercial vehicles. The passenger car segment held the largest share in 2021 and is anticipated to continue to hold the top position in terms of revenue in the near future. The huge demand and high production of automobiles around the world are responsible for the passenger car segment’s dominant position. Currently, passenger automobiles make up the majority of global automobile production.
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The performance of passenger cars is enhanced by the use of automotive sensors. increase vehicle safety while lowering vehicle CO2 emissions. Infrastructure upgrades for the roads. The need for automobiles in developing countries such as China, India, and Brazil has been spurred by the availability of cheap labor and the rise in consumer spending power, which in turn has fueled the demand for automotive sensors.
The autonomous capabilities of commercially available vehicles are anticipated to increase quickly during the projection period as a result of more strict legislation and safety tests as well as growing awareness about vehicle safety. For instance, in industrialized nations, all automobiles must-have features such as cruise control and lane-keep assistance, and blind-spot monitoring is subject to regulations, particularly in Europe.
For adaptive cruise control, long-range radar sensors are necessary, and blind spot identification requires roughly two medium-range backward-facing radar sensors. Moreover, up to 12 ultrasonic sensors are needed for features such as parking assistance. As a result, the use of high-precision sensors will increase along with the demand for autonomous driving features.
- In November 2021, Robert Bosch GmbH developed cutting-edge driver-assistance technology for local rail transit. In the event of a potential collision, it initially signals the tram driver. If the driver does not act or does so too late, the system automatically brakes the tram until it comes to a complete stop in order to prevent a crash or at least to decrease damage as much as possible.
- Infineon Technologies AG introduced the XENSIV TLE4972 vehicle current sensor in October 2021. The coreless current sensor leverages Infineon’s tried-and-true Hall technology to measure current with accuracy and stability.
- In July 2021, Continental AG recently partnered with a LiDAR specialist named AEye to integrate long-range LiDAR technology into its full sensor stack solution and develop the first full-stack automotive-grade system for Level 2+ to Level 4 automated and autonomous driving applications. A significant portion of the sensor configuration for high-level automation systems uses the solution based on AEye’s LiDAR technology.
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LIST OF KEY COMPANIES PROFILED:
- Robert Bosch GmbH (Gerlingen, Germany)
- Infineon Technologies AG
- STMicroelectronics
- Continental AG
- Denso Corporation
- NXP Semiconductors
- Texas Instruments Incorporated
- Allegro Microsystems, LLC
- CTS Corporation
- Elmos Semiconductor
- Sensata Technologies
SEGMENTATION
By Type
- CMOS
- CCD
By Application
- TSR
- LDW
- Surround View
- Park Assists
- Road Vulnerability Detection
- DMS
- Occupancy Detection
In terms of value, the automotive camera sensor market was dominated by Europe. The dominance of the region is a result of the rising popularity of linked automobiles and the rising demand for automated vehicles. The laws of the European Union (EU), which were amended in 2018 and control the installation of particular safety systems in vehicles, are also contributing to the increasing acceptance of these sensors in this region.
The Asia Pacific is the second-largest market for automotive camera sensors as a result of the growing popularity of electric vehicles in China, South Korea, and Japan. The market potential in the region for manufacturers of automotive sensors has increased as a result of numerous government initiatives and laws that support the use of electric vehicles. For instance, the Environment Ministry of South Korea announced a USD 891.7 million budget for electric vehicle subsidies in January 2021. There will be fully subsidized electric vehicles in the sub-$53,000 price bracket.
The global automotive camera sensor market is highly competitive with the presence of leading firms operating in the market. In order to maintain their market standing and increase their revenue share, these market participants are focusing on employing several business strategies such as product innovation, product launches, partnerships, and collaborations.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Automotive Camera Sensor Market
Chapter 5. Global Automotive Camera Sensor Market Overview, By Type, 2015 – 2028(USD Million)
Chapter 6. Global Automotive Camera Sensor Market Overview, By Dimension, 2015 – 2028(USD Million)
Chapter 7. Global Automotive Camera Sensor Market Overview, By Vehicle Autonomy, 2015 – 2028(USD Million)
Chapter 8. Global Automotive Camera Sensor Market Overview, By Vehicle Type, 2015 – 2028(USD Million)
Chapter 9. Global Automotive Camera Sensor Market Overview, By Application, 2015 – 2028(USD Million)
Chapter 10. Global Automotive Camera Sensor Market Overview, By Geography, 2015 – 2028(USD Million)
…Continued
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