The mushrooming sales of autonomous and luxury vehicles and the growing requirement for advanced safety systems and features are the main factors boosting the demand for automotive camera modules across the world. In addition to this, the enactment of the New Car Assessment Program (NCAP) is further fueling the sales of automotive camera modules. Due to the growing incidence of road accidents, the governments of many countries are implementing strict regulations that mandate the incorporation of safety features in automobiles.
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| Automotive Camera Module Market Outlook |
Apart from the aforementioned factors, the increasing enactment of supportive policies by various insurance companies and the ballooning utilization of complementary metal-oxide semiconductor (CMOS) sensors in vehicles are also contributing to the growing popularity of automotive camera modules. Moreover, this is encouraging the CMOS manufacturing companies to produce camera module sensors that are equipped with advanced features at highly affordable prices. Another important factor pushing up the demand for these sensors is the adoption of artificial intelligence in mirrorless cars.
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Due to the above-mentioned reasons, the sales of automotive camera modules are rising rapidly, which is, in turn, driving the advancement of the global automotive camera module market. According to the estimates of the market research firm, P&S Intelligence, the market would register huge expansion from 2020 to 2030. The biggest application areas of these camera modules are park assist (PA), lane departure warning (LDW), blind spot detection (BSD), autonomous emergency braking (AEB), and adaptive cruise control (ACC).
Out of these, the usage of the automotive camera modules is growing rapidly in the LDW applications and this trend is likely to continue in the upcoming years as well. Infrared, thermal, and digital are the most commonly used types of technologies in automotive camera modules. Out of these, the usage of the thermal automotive camera modules is predicted to rise explosively across the world over the next few years.
This would be mainly because of the large-scale utilization of these devices in various night vision systems and their excellent functionality in adverse weather conditions such as rain and fog. Besides these, the sales of the infrared automotive camera modules will also rise quickly around the world in the forthcoming years, mainly because of the requirement for infrared automotive camera technology in autonomous vehicles. Globally, the demand for automotive camera modules will explode in North America in the future.
This would be a result of the mushrooming requirement for luxury automobiles and the rapid integration of advanced safety features and systems such as the advanced driver assistance systems (ADAS) in both commercial vehicles and passenger cars. After North America, the automotive camera module market will register the second-highest growth in Europe in the coming years, on account of the enactment of regulatory policies regarding the adoption of safety systems in vehicles in the region.
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Hence, it can be said with full surety that the demand for automotive camera modules would surge all over the world in the forthcoming years, primarily because of the increasing popularity of autonomous and luxury vehicles and the growing installation of advanced safety systems and features in automobiles around the world.
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