Automotive Camera Sensor Market to Reach $5,847.4 Million by 2030

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 (2020–2030). Charged-coupled device (CCD) and complementary metal oxide semiconductor (CMOS) are the two types of automotive camera sensors.

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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 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.

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In conclusion, the need for automotive camera sensors is being driven by the growing installation of ADAS and increasing demand for autonomous cars.

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