The Automotive Vision Systems market was valued at USD 15.79 Billion in 2020 and is expected to reach USD 44.69 Billion by the year 2026, at a CAGR of 14.39% CAGR during the forecast period (from 2020-2028). The global automotive vision system, market is driven by factors such as an increase in the number of automated and connected vehicles and a decrease in manufacturing cost of instruments – camera, LiDAR, radar systems. However, high costs associated with the usage of expensive components in these systems, such as laser scanners, a navigation system, and high-resolution 3D cameras systems, might hamper the market growth. Conversely, a rise in a number of autonomous, and connected cars is expected to offer various opportunities for new products in the market and boost the market growth.
Modern automobiles are at their initial stage of the autonomous vehicle (AV) era. The autonomous vehicles require a variety of sensors, including radar, camera, and LiDAR, among others, which sense the environment around the vehicle. The average number of sensors or vision system instruments in a vehicle is likely to increase with the increase in the level of autonomy. According to NXP, cars with level 3 autonomy will use 3–6 cameras along with other sensors. Also, nowadays, vehicles are equipped with a multi-camera system that detects every surrounding aspect of the vehicle. These instruments are helpful in gathering a huge amount of data to implement the machine learning algorithms in the computer system of the car. With the help of artificial intelligence, predictive analysis, cognitive computing, automotive OEMs, and auto-ancillaries along with non-automotive-technology players are going to make AV a possibility. Thus, automotive vision systems that can provide several advanced features have an attractive market owing to the growing trend of autonomous vehicles
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The key questions answered in the report:
- What will be the size and growth rate in the forecast year?
- What are the key factors driving the ?
- What are the risks and challenges in front of the?
- Who are the key vendors in the ?
- What are the trending factors influencing the shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the ?
Table of Content:
Chapter 1. Automotive Vision System Segmentation & Impact Analysis
1.1. Automotive Vision System Segmentation Analysis
1.2. Automotive Vision System Market Value Chain Analysis, 2020-2028
1.3. Regulatory Framework
1.4. Automotive Vision System Market Impact Analysis
1.4.1. Market Driver Analysis
1.4.1.1. Technological Advancement in automotive sensors
1.4.1.2. Development of Autonomous and connected Vehicles
1.4.2. Market Restraint Analysis
1.4.2.1. Installation Cost
1.5. Key Opportunities Prioritized
1.6. Automotive Vision System Pricing Analysis
1.7. Industry Analysis – Porter’s
1.8. Automotive Vision System PESTEL Analysis
Chapter 2. Automotive Vision System Market By Instrument Insights & Trends
2.1. Automotive Vision System: By Instrument Dynamics & Market Share, 2018 & 2026
2.2. Camera
2.2.1. Market Estimates And Forecast, 2020 – 2028 (USD Million)
2.2.2. Market Estimates And Forecast, By Region, 2020 – 2028 (USD Million)
2.2.3. Thermal
2.2.3.1. Market Estimates And Forecast, 2020 – 2028 (USD Million)…
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Further key findings from the report suggest-
- Driver monitoring system is expected to lead the automotive vision market over the forecast period
- In 2017, as per the National Highway Traffic Safety Administration (NHTSA), approximately 3,166 people were killed by distracted driving. To increase driver’s attention while driving a car, auto OEM are incorporating driver assist systems and driver fatigue monitoring systems
- APAC region is anticipated to be one of the key regions for the automotive vision system market. The presence of a large number of manufacturing plants in the region particularly in China and growth in the demand for luxury vehicles are major factors contributing towards growth of the automotive vision systems market. China is a major manufacturer in the automobile sector and one of the largest auto markets globally. The country has been experiencing a growing demand for luxury cars
- 2016, Audi recorded an increase in year-on-year sales in one month by 34.3% in December 2017 compared to December 2016
- AVs are connected IoT vehicles, which are powered by Artificial Intelligence (AI). The AI operates various systems in parallel, generating data continuously. All the data is provided by LiDAR, cameras, sensors in automobile, and in raw format that needs further processing for AI to make decisions
- The demand for automotive fusion sensors can be attributed to continuous data processing by AI system for decision making
- In line with government mandates related to backup cameras in North America, the governments in several countries may issue mandates supporting vision functions in the near future
- Autoliv, Inc. (Veoneer Inc.), Denso Corporation, Mobileye, ZF Friedrichshafen, Magna International, Omnivision Technologies Inc., Continental AG, Aptiv, Robert Bosch GmbH, Omron Corporation and others are operating in the Automotive Vision System marketplace
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For the purpose of this study, Reports and Data have segmented the industry by Instrument, by Applications, by Vehicle Type and by Region:
Automotive Vision Systems Market by Instrument (Revenue, USD Million; 2020–2028)
- Camera
- Infrared
- Thermal
- Digital
- LiDAR
- Radar
- Fusion
Automotive Vision Systems Market by Applications (Revenue, USD Million; 2020–2028)
- 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
- Others
Automotive Vision Systems Market by Vehicle Type (Revenue, USD Million; 2020–2028)
- Passenger Vehicle
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
Automotive Vision Systems Market by Region (Revenue, USD Million; 2020–2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Benelux
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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