Automotive Camera Sensor Market Growth Opportunities Created by Covid19 Outbreak

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Automotive Camera Sensor Market Outlook By Size,
Demand Status Of Type, Applications And Future
Forecast
Ever since vehicles have been developed, the
concern regarding safety on roads has only
increased. Manufacturers have made numerous
efforts to integrate new technologies in vehicles
so, that in case of an emergency, the damage can
be minimized. At the most basic level, when one
thinks about the safety features in cars,
seatbelts and airbags come to mind. However, the
technological advancements have moved far ahead,
because of which technologies such as advanced
driver assistance systems (ADAS) have been
developed. ADAS is a vehicle-based intelligent
system which can enhance road safety in terms of
crash severity mitigation, protection and
post-crash phases, and crash avoidance. A major
component of ADAS are automotive camera sensors,
which can be utilized for object detection,
recognize texture, build a 3D map of the area
surrounding the car, and detect signs. These
sensors are basically utilized for assisting the
driver in parking, manoeuvring, and assessing
the vehicle performance. Due to these advantages
of camera sensors, the automotive camera sensor
market generated a revenue of 1,869.4 million in
2019 and is predicted to reach a value of
5,847.4 million by 2030, progressing at a 11.0
CAGR during the forecast period (20202030).
Charged-coupled device (CCD) and complementary
metal oxide semiconductor (CMOS) are the two
types of automotive camera sensors. Request to
Get the Sample Report Because of the fact that
CMOS have low power consumption rate and low
cost, their demand is projected to rise
considerably in the coming years. In addition to
this, owing to technological advancements in the
CMOS image sensing technology, these sensors have
a higher camera performance. Automotive camera
sensors have various applications, which is why
their demand is increasing rapidly. Occupancy
detection, driver monitoring system, road
vulnerability detection, park assists, surround
view, traffic sign recognition, and lane
departure warning are the major applications of
automotive camera sensors. The demand for
automated and connected vehicles has been the
highest in Europe, which is why, the requirement
for automotive camera sensors was also the
largest in the region in the past. In addition
to this, the regulatory framework in Europe is
strict when it comes to vehicles safety, and
mandatory policies have been implemented by the
European Union under the General Safety
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Regulation amended as on 2018, about the
installation of specific safety features in the
vehicles. This has further been responsible for
the high demand for camera sensors in the
region. In conclusion, the need for automotive
camera sensors is being driven by the growing
installation of ADAS and increasing demand for
autonomous cars.