Automotive Image Sensors Market size to increase by USD 8.41 billion between 2022 to 2027, Market Segmentation by Application and Geography, Technavio
NEW YORK, April 10, 2024 /PRNewswire/ -- The global automotive image sensors market size is estimated to grow by USD 8413.72 million from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of almost 28.65% during the forecast period. The automotive image sensors market confronts high replacement costs due to labor-intensive processes in camera module repair, despite moderate camera costs. Essential for obstacle detection and safety systems, these sensors enable crisp images for autonomous driving technology. Key trends include powertrain systems, fuel consumption, 5G networks, and IoT sensor platforms. Technological advancements like ISOCELL Auto 4AC, KBV Cardinal matrix, and XENSIV TLE4971 sensor enhance image quality. Regulations and safety features drive market growth.
To understand more about this market- Download a FREE Sample Report in minutes!
The Application segment emerges as the fastest-growing segment in the automotive image sensors market
The automotive image sensors market is witnessing significant advancements, with both CMOS and CCD technologies playing pivotal roles. While CMOS sensors have gained popularity due to their cost-effectiveness, CCD sensors continue to excel in passenger vehicles, commercial vehicles, and electric vehicles (EVs) for their high resolution and low noise. Strategic alliances and product development are key trends, with a focus on vehicle authentication, driver safety, comfort, and advanced driver-assistance systems (ADAS). CO2 emissions are a concern, leading to the adoption of energy-efficient and compact sensors in EVs and hybrid vehicles (HVs). LiDAR technology, including solid-state LiDAR and compact sensors, is revolutionizing 3D mapping and autonomous driving. MEMS accelerometers and efficiency gains through process optimization are essential for cutting-edge products, providing real-time insights into battery health, temperature, and charging status. In-car infotainment, navigation, connectivity features, and testing are driving demand, despite the high price tag. Prototyping investment, sensor designs, materials, functionalities, and capabilities continue to evolve, shaping the future of automotive image sensors.
The Automotive Image Sensors Market in North America is experiencing significant growth, driven by the increasing production of high-performance pickup trucks, SUVs, and crossovers. These vehicles, equipped with Advanced Driver-Assistance Systems (ADAS), driver support, and autonomy features, are becoming the major revenue contributors for automakers. Powertrain systems in these vehicles are evolving, with hybrid powertrain systems and electric vehicles (EVs) gaining popularity. Lowering emissions and improving fuel economy are key priorities, leading to the adoption of high-quality image sensors, such as ISOCELL Auto 4AC, KBV Cardinal matrix, and XENSIV TLE4971 sensor. Onboard diagnostic requirements, drivability, and safety features like adaptive cruise control, lane-keeping assist, automatic emergency braking, blind-spot monitoring, parking assistance, pedestrian detection, and autonomous vehicles, are all reliant on advanced image sensors. Technological advancements, including 5G and 6G network technologies and IoT sensor platforms, are also influencing market growth. Regulations and vehicle demand continue to shape the market landscape, with safety features becoming increasingly important. Cameras, LiDAR, and radar are essential components of the image sensor market, as automakers expand their product portfolios to meet the demands of the evolving automotive industry.
Commenting on the market trends, a Senior Analyst of Technavio, stated," The automotive industry has transitioned from CCD to CMOS image sensors for cost-effective, high-performance applications. HDR-capable CMOS sensors, like Sony's IMX390CQV, are in demand due to ADAS technology adoption. Key trends include LED flicker mitigation, energy-efficient sensors, solid-state LiDAR, and 3D mapping. Market focus is on product development, driver safety, comfort, and real-time insights for EVs, HVs, and vehicle authentication. Strategic alliances and process optimization drive efficiency gains and cutting-edge products."
To understand more about this market- Download a FREE Sample Report in minutes!
Analyst Review
The Automotive Image Sensors Market is experiencing significant growth due to the increasing demand for advanced driver-assistance systems (ADAS) in automobiles. These sensors play a crucial role in features such as Blind-spot monitoring, Parking assistance, Pedestrian detection, and Autonomous vehicles. The market is witnessing the integration of various technologies like Cameras, LiDAR, and Radar, to enhance vehicle safety and comfort. Moreover, the adoption of technologies like Vehicle authentication, Driver safety, and Energy-efficient sensors, is gaining momentum. LiDAR technology, in particular, is revolutionizing the market with its compact sensors and high-resolution imaging capabilities. The IoT sensor platform is also playing a pivotal role in the development of the market. Key players in the market include ISOCELL Auto 4AC, KBV Cardinal matrix, and XENSIV TLE4971 sensor. Advanced features like Adaptive cruise control, Lane-keeping assist, Automatic emergency braking, CCD, and CMOS are becoming increasingly popular. The market is also witnessing the rise of Electric Vehicles (EVs) and Hybrid Vehicles (HVs), further fueling the demand for automotive image sensors.
Market Overview
The Automotive Image Sensors Market is experiencing significant growth due to the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. These sensors play a crucial role in vehicle safety and functionality, enabling features such as lane departure warning, blind spot detection, and pedestrian detection. The market is driven by technological advancements, regulatory requirements, and consumer preferences for safer and more convenient driving experiences. Key players in the market include Bosch, Continental AG, and Texas Instruments. The market is expected to reach a value of USD35.5 billion by 2026, with a CAGR of 18.2% during the forecast period. The use of CMOS image sensors and the integration of machine learning algorithms are some of the trends shaping the market. However, challenges such as high cost and the need for high-performance computing remain. The market is segmented by technology, application, and region. The Asia Pacific region is expected to dominate the market due to the presence of major automotive manufacturers and the increasing demand for advanced safety features.
To understand more about this market- Download a FREE Sample Report in minutes!
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article