Growing Demand for Driverless Cars to Boost Automotive Imaging Market

Posted Feb 18, 2020 by Radiant Insights

According to a recent report by Radiant Insights, the global automotive imaging market is expected to grow at a substantial CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

The automobiles are no longer merely the motorized means of transference during the present situation. These have likewise turn out to be information producing centers comprising a superfluity of automated content. Automotive imaging has transformed the automobiles into information and entertainment hubs linked with the exterior world. The automotive equipment of imaging delivers some built in structures in the automobiles for example healthcare, social media, mobile business, security feature against theft, safety of the vehicle, and surveillance for parking.

The global market for automotive imaging is likely to display the prominent development owing to the effect of a number of contributing factor for example growth in the amount of vehicles, increasing inclination of driverless cars, greater price of the product, growing acceptance of advanced driver assistance systems (ADAS).The progressions in the technology are translating into enormous openings for the companies operating in the field.

Growing alertness from the sector of automotive manufacturing, for the quality of image, greater demand for Autonomous Vehicles and growing digit of accidents through the U.S.A, are the possible reasons motivating the global market for automotive imaging. While, the variation in the rates of foreign currency exchange, the rates of interest and greater price of maintenance and production, are some of the reasons restricting the development of the global automotive imaging market.

The global Automotive Imaging Market can be classified by Application, Type of Camera, and Region. By Application it can be classified as Surveillance, Parking Assistance, and Automotive Safety. By Type of Camera, it can be classified as Night Vision Camera, 3D Camera, Visible Camera, LiDAR.

By Region, the global Automotive Imaging Market can be classified as North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa With reference to the geography, North America is biggest market. It is tracked by Europe, Asia Pacific, and Row. The Asia Pacific region is likely to observe the maximum development within the period of forecast. Increasing finance for R&D assignments for the improvement of microscopes, growing research on nanotechnology, low-slung prices of the material , increasing proficiency and educational brilliance in developing nations of Asia Pacific for example India and China are the most important features motivating the development.

Some of the important companies involved in automotive imaging include: STEMMER IMAGING, Omni vision Technologies Inc., Phantom Intelligence, No variant Inc., Quanergy Systems Inc., Continental AG, Leddartech, Teledyne Optech Incorporated, Velodyne LiDAR Inc., and Valeo, Denso Corporation. Additional notable companies are: STMicroelectronics, Samsung, ON Semiconductor, Sony, and PIXELPLUS.

Click here to read the full report.