Government initiatives regarding vehicle safety features, the advanced technology used in ADAS are expected to boost the market with a high CAGR for Automotive Vision Systems during the projection period.
Market Size: USD 13.61 billion in 2019, Market Growth: CAGR of 14.4%, Market Trends: Increasing number of automated vehicles and reduction in manufacturing cost of instruments.
The global market for automotive visions market is estimated to rise from USD 13.61 billion in 2019 to USD 39.92 billion by 2027, with a CAGR of 14.4% during the projected period.
There is an increase in the number of automated vehicles and a reduction in the manufacturing cost of instruments, including LiDAR, camera, and radar systems. The rising popularity of semi-autonomous vehicles is an advanced technology used for connected cars, and the increasing traction of ADAS is driving the market for automotive vision systems market. The government regulations are focusing on improving vehicle security that is expected to increase the market expansion.
High-cost utilization for systems like laser scanners and high-resolution 3D cameras is predicted to hamper the market for automotive vision systems.
Leading players in the Automotive Vision Systems Market:
- Omron Corporation
- Continental AG
- Robert Bosch GmbH
- Denso Corporation
- Magna International
- Autoliv, Inc. (Veoneer Inc.)
- ZF Friedrichshafen
- Omnivision Technologies Inc.
To identify the key trends in the industry, click on the link below @ https://www.reportsanddata.com/report-detail/automotive-vision-systems-market
For the purpose of this study, Reports and Data have segmented the industry based on instrument, application, vehicle type, and region:
Instrument Outlook (Revenue, USD Million; 2017–2027)
Application Outlook (Revenue, USD Million; 2017–2027)
- Adaptive Cruise Control
- Adaptive Front Light
- Automatic Emergency Braking
- Blind Spot Detection
- Cross Traffic Alert
- Driver and passenger Monitoring System
- Forward Collision Warning
- Intelligent Park Assistance
- Lane Departure Assistance
- Night Vision System
- Pedestrian Detection System
- Road Sign Recognition
- Traffic Jam Assist
- Lane keep assist system
Vehicle Type Outlook (Revenue, USD Million; 2017–2027)
- Passenger Vehicle
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Regional Outlook (Revenue, USD Million; 2017–2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
Further Key findings:
- By instruments, the camera sub-segment held the highest share of the market due to the rising implementation of ADAS and technologically advanced connected and autonomous vehicles.
- Advances in automotive vision system technologies are assumed to play an essential role in propelling the growth of the automotive vision systems market. Sensors help to detect objects like pedestrians, road signs, cyclists, and road signs. Denso declared the new night vision sensor for detecting objects. These sensors also help to automatically deploy the emergency braking systems after detecting an object.
- The automotive night vision sub-segment is predicted to grow at a significant rate during the projection period. In various situations like bad weather or darkness, the automotive vision category has emerged to enhance the visibility of vehicle drivers. According to the European Commission, animal and pedestrian protection has become a major concern, mainly at night, with almost half of the accidents occurring at night.
- Based on application, the adaptive cruise control sub-segment occupies a major share in the automotive vision systems market. Though, the driver and passenger monitoring sub-segment is predicted to witness escalating growth during the projected period. In 2017, around 3,166 people were killed due to distracted driving, as per a report submitted by National Highway Traffic Safety Administration (NHTSA).
- Based on vehicle type, the passenger vehicles sub-segment dominated the automotive vision market and is expected to retain its dominance during the projected period.
- The automotive vision systems market in the Asia Pacific region is predicted to expand at a significant pace due to the existence of larger production units, especially in China. Additionally, the growing desire for leisure vehicles is expected to boost the market in the APAC region. China is the most significant contributor and manufacturer in the automotive industry.
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