PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401832
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1401832
Automotive Image Sensors Market size was valued at USD 3,100 Million in 2022, expanding at a CAGR of 12.3% from 2023 to 2030.
Automotive image sensors are sophisticated electronic devices that capture visual data from the surroundings of a vehicle. They play a critical role in enhancing safety by enabling advanced driver assistance systems (ADAS) and supporting the development of autonomous vehicles. These sensors are essential in facilitating a wide range of functionalities, from basic safety features to the complex requirements of autonomous driving. Image sensors are becoming increasingly important, revolutionizing the automotive industry. Equipped with state-of-the-art technology, these sensors serve multiple purposes. They ensure excellence by detecting flaws in automobile components and ensuring that vehicles are assembled to the highest quality standards. Automotive image sensors are indispensable components in modern vehicles, contributing to the advancement of safety and driving assistance technologies. As technology continues to progress, It can anticipate further enhancements in sensor capabilities, reliability, and integration with other advanced automotive systems.
Automotive Image Sensors Market- Market Dynamics
Rising adoption of autonomous vehicle is projected to drive the growth of market
The market growth is expected to be driven by the increasing adoption of autonomous vehicles. This industry has been attracting investments and research and development efforts, leading to a rising demand for advanced sensor technologies, particularly high-quality image sensors. These sensors play a crucial role in providing real-time visual data to autonomous vehicles, enabling them to perceive and understand their surroundings. By capturing images and videos, image sensors assist in making informed decisions after processing the data. Currently, around 80 companies are testing around 1,400 self-driving vehicles, trucks, and other vehicles across 36 states as of 2021. Notably, in January 2023, Mercedes-Benz became the first automaker in the US to receive government approval for a Level 3 driving feature in Nevada, as reported by self-driving car statistics. The continuous advancements in image sensor technologies, such as higher resolution, improved sensitivity, and enhanced image processing capabilities, present new opportunities for applications in the automotive industry. However, manufacturers may face challenges related to compatibility issues and the need for seamless integration.
Automotive Image Sensors Market- Key Insights
As per the analysis shared by our research analyst, the global Automotive Image Sensors market is estimated to grow annually at a CAGR of around 12.3% over the forecast period (2023-2030)
Based on Technology segmentation, CMOS Image Sensors was predicted to show maximum market share in the year 2022
Based on Vehicle Type segmentation, Passenger vehicle was the leading Technology in 2022
On the basis of region, Asia pacific was the leading revenue generator in 2022
The Global Automotive Image Sensors Market is segmented on the basis of Technology, Vehicle Type, and Region.
The market is divided into two categories based on Technology: CCD Image Sensors and CMOS Image Sensors. The market is currently dominated by the CMOS Image Sensors segment. CMOS image sensors have become increasingly popular compared to CCD (Charge-Coupled Device) sensors, primarily due to their numerous advantages, particularly in the realm of automotive applications.
The market is divided into two categories based on Vehicle Type: Passenger Vehicles and Commercial Vehicles. Passenger vehicle segment dominates the market growth. The market growth is primarily driven by the dominance of the passenger vehicle segment. Advanced Driver Assistance Systems (ADAS) are widely adopted by this segment. These systems heavily rely on image sensors to ensure precise and timely data processing for features like adaptive cruise control, blind-spot detection, and parking assistance.
Automotive Image Sensors Market- Geographical Insights
This market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The growth of the market is expected to be dominated by the Asia Pacific region, primarily due to consumer awareness and the demand for safety features in vehicles. The Asia Pacific region has been witnessing significant growth in vehicle ownership, driven by increasing incomes and urbanization. As more consumers purchase vehicles, there is a greater emphasis on safety features, leading to a higher demand for image sensors. According to the China Association of Automobile Manufacturers, China's vehicle production and sales volumes increased by 29.4% and 27.4% year-on-year in November, respectively. In the upcoming years, Europe is projected to hold the second-largest market share, mainly due to the demand for Advanced Driver Assistance Systems.
The competitive landscape within the automotive image sensors market is constantly evolving due to technological advancements, mergers and acquisitions, and strategic partnerships. As autonomous vehicle technology continues to progress, image-sensing technologies will play a crucial role in ensuring a safe and reliable driving experience. Furthermore, with ongoing advancements, manufacrers can expect even more exciting developments in the future. To remain competitive, companies are prioritizing product innovation and the development of advanced sensor technologies. They are also forming strategic partnerships and collaborations with automotive manufacturers and technology companies to seamlessly integrate sensors into vehicles. For instance, Samsung Electronics Co., Ltd., a global leader in advanced semiconductor technology, recently introduced ISOCELL Auto 4AC, an automotive image sensor designed specifically for SVM or RVC in high-definition resolution (1280 x 960).
On 4 November, 2022 - Infineon Technologies AG today announced the addition of the new XENSIV™ TLE4971 family to its current sensor portfolio for automotive applications. The 3.3 V devices are the next generation of TLI4971 devices available in a TISON package with an integrated rail and available in four different pre-programmed current ranges: 25 A, 50 A, 75 A and 120 A.
The scope of this report covers the market by its major segments, which include as follows: