The Global Automotive Image Sensors Market size is expected to reach $6.6 billion by 2030, rising at a market growth of 11.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 72,246.4 thousand units, experiencing a growth of 15.3% (2019-2022).
Some countries within the LAMEA region, such as the United Arab Emirates, South Africa, and Brazil, have experienced economic growth and increased urbanization. This has led to an expansion in the automotive industry and consumer demand for advanced vehicles with safety and driver assistance features that rely on image sensors. Hence, the LAMEA region generated $173.6 million revenue in the market in 2022. The growth of ride-sharing and ride-hailing services in urban areas of the LAMEA region is increasing the adoption of image sensor technology. Service providers are looking to enhance vehicle safety and security by using image sensors for driver monitoring and collision avoidance features. These factors will propel the demand in the LAMEA region.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In October, 2022, Infineon Technologies AG announced the launch of the XENSIV connected sensor kit, a new IoT sensor platform for rapid prototyping and development of customized IoT solutions. This launch aimed at CSK for rapid prototyping of connected IoT sensors. In addition, In July, 2021, Samsung Electronics Co., Ltd. announced the launch of ISOCELL Auto 4AC, an automotive image sensor. The launched product would be optimized for automotive applications.
Based on the Analysis presented in the KBV Cardinal matrix; Samsung Electronics Co., Ltd. (Samsung Group) is the major forerunner in the Market. Companies such as Infineon Technologies AG, OmniVision Technologies, Inc. and Teledyne Technologies Incorporated are some of the key innovators in the Market. In November, 2022, Infineon Technologies AG introduced XENSIV TLE4971 sensor, with a compact design and state-of-the-art sensing. The launched product would provide a precise magnetic current sensing based on proprietary temperature and stress compensation.
Safety standards and regulations often mandate the inclusion of specific safety features in vehicles to reduce the risk of accidents and enhance occupant and pedestrian safety. In many places, features that significantly rely on image sensors, such as autonomous emergency braking, lane-keeping assistance, and adaptive cruise control, become required. The need to meet safety regulations and consumer expectations has spurred continuous technological advancements in image sensor technology. Manufacturers are developing image sensors with higher resolution, better low-light performance, and enhanced processing capabilities, ensuring they are well-equipped to meet the requirements of advanced safety systems. Thus, these factors will drive the expansion of the market.
ADAS technologies encompass many safety and convenience features, including adaptive cruise control, lane-keeping assist, blind-spot monitoring, and automatic emergency braking. These features have gained immense popularity among consumers who prioritize safety and convenience. As a result, automakers increasingly integrate ADAS into their vehicle models, driving up the demand for image sensors. One of the primary objectives of ADAS is to enhance safety on the road. Image sensors are essential for meeting these regulatory requirements. As governments and safety organizations worldwide emphasize the importance of ADAS in improving road safety, the positive impact on the image sensor sector extends to a global scale. These factors are expected to propel the demand for automotive image sensors worldwide.
The presence of many older vehicles on the road that lack image sensor-based safety features restricts the potential market for image sensor retrofitting. This limitation reduces the market's expansion opportunities as the retrofitting of older vehicles becomes complex and costly. Retrofitting older vehicles with image sensors and ADAS systems involves complex and intricate installation processes. The challenge of retrofitting older vehicles further segments the market. While newer vehicles come equipped with image sensors as standard or optional features, older vehicles are left with a technology gap. This segmentation can lead to unequal access to safety and convenience features across vehicle segments. These factors are expected to hamper the growth of the market in the upcoming years.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on technology, the market is segmented into CCD and CMOS. In 2022, the CCD segment garnered a significant revenue share in the market. CCD sensors are known for their higher image quality and offer high-resolution images with low noise and high dynamic range. These characteristics make them suitable for demanding applications in the automotive sector, such as advanced driver assistance systems and autonomous vehicles, where image quality and accuracy are critical. CCD sensors perform exceptionally well in low-light conditions. This is crucial for night vision, pedestrian detection, and object recognition in automotive applications. Therefore, the segment will witness an increased demand in the future.
On the basis of vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment recorded the maximum revenue share in the market in 2022. Passenger vehicle buyers are increasingly prioritizing safety features when making purchasing decisions. Image sensors enhance safety by providing real-time information about the vehicle's surroundings, helping drivers avoid accidents and collisions. This has driven automakers to integrate advanced image sensor-based safety systems. Modern passenger vehicles are increasingly equipped with connectivity features that rely on image sensors. In-cabin monitoring systems, gesture control, and augmented reality displays are becoming common in new vehicle models.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.9 Billion |
| Market size forecast in 2030 | USD 6.6 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 11.1% from 2023 to 2030 |
| Number of Pages | 261 |
| Number of Table | 472 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Companies Strategic Developments, Company Profiling |
| Segments covered | Vehicle Type, Technology, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured the highest revenue share in the market in 2022. The Asia Pacific region is a global hub for the automotive industry. It has witnessed substantial growth in vehicle production, making it a critical market. The demand for image sensors increases as vehicle manufacturing grows in nations like China, India, South Korea, and Japan. One such use is advanced driver assistance systems, which use image sensors. Therefore, Asia Pacific is expected to grow rapidly in the coming years.
Free Valuable Insights: Global Automotive Image Sensors Market size to reach USD 6.6 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Continental AG, Infineon Technologies AG, Denso Corporation, OmniVision Technologies, Inc., Sharp Corporation (Hon Hai Precision Industry Co., Ltd), NXP Semiconductors N.V., Gentex Corporation, Canon, Inc., and Teledyne Technologies, Inc.
By Technology (Volume, Thousand Units, USD Million, 2019-2030)
By Vehicle Type (Volume, Thousand Units, USD Million, 2019-2030)
By Geography (Volume, Thousand Units, USD Million, 2019-2030)
The Market size is projected to reach USD 6.6 billion by 2030.
Stringent safety standards imposed on automotive manufacturing are driving the Market in coming years, however, Challenges in retrofitting image sensors in old vehicles restraints the growth of the Market.
Samsung Electronics Co., Ltd. (Samsung Group), Continental AG, Infineon Technologies AG, Denso Corporation, OmniVision Technologies, Inc., Sharp Corporation (Hon Hai Precision Industry Co., Ltd), NXP Semiconductors N.V., Gentex Corporation, Canon, Inc., and Teledyne Technologies, Inc.
In the year 2022, the market attained a volume of 72,246.4 thousand units, experiencing a growth of 15.3% (2019-2022).
The CMOS segment is leading the Market, By Technology in 2022 thereby achieving a market value of $4.9 billion by 2030.
The Asia Pacific region dominated the Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $3 billion by 2030.
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