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Massive Growth of Automotive Camera Sensor Market by 2030

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Roads claim more than 1.3 million human lives each year, as per the World Health Organization (WHO). With more vehicles and pedestrians than the roads can handle, someone is bound to die every day, unless some concrete steps are taken. History and research have revealed that the cause of most of the accidents is not vehicle system failure, but human error, such as rash driving and overspeeding, talking on the phone while driving, crossing the road through the moving traffic, jumping a red light, and driving too close to the vehicle in front.

Therefore, advanced driver assistance system (ADAS) and other safety features are being mandated for use in vehicles. P&S Intelligence says that due to this reason, the automotive camera sensor market size, which was $1,869.4 million in 2019, will witness an 11.0% during 2020–2030, to reach $5,847.3 million by 2030. This is because a large number of vehicle safety systems, including lane departure warning (LDW), surround view, traffic sign recognition (TSR), park assist, driver monitoring system (DMS), road vulnerability detection, and occupancy detection, utilize cameras or camera sensors.

Apart from conventional vehicles, ADAS and camera sensors are also being integrated into autonomous vehicles, for which these systems are even more important. Since autonomous vehicles will drive themselves, their need for cutting-edge electronic equipment is far greater than regular automobiles. The idea is that taking the driving control from the human, traffic rules and speed limits will be better followed and all other road safety cautions will be observed, which will, ultimately, bring down the number of vehicle crashes and resulting deaths.

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