ADAS Sensor Market Growth, Development and Demand Forecast Report 2030

ADAS Sensor Market

ADAS Sensor Market Overview

Bosch claims that its fourth-generation long-range radar (LRR) for automobiles has a detection range of up to 250 meters. While Continental’s fifth-generation LRR is claimed to have a range of 300 meters. Many more automotive technology companies are bringing innovations in their radar. Light detection and ranging (LiDAR), ultrasonic, and camera sensors considering the rising demand for autonomous vehicles. This is because autonomous vehicles require advanced driver assistance systems (ADAS) to drive on their own. Which, in turn, require all these kinds of sensors to function.

ADAS Sensor Market Growth

Therefore, with the increasing popularity of self-driving vehicles, P&S Intelligence expects the ADAS sensor market value to escalate to $40.8 billion by 2030 from $11.5 billion in 2019, at an 11.7% CAGR between 2020 and 2030. The demand for autonomous vehicles is itself being driven by the rising number of road accidents. Which already kill more than 1.3 million people each year. According to the World Health Organization (WHO). Since human error is the cause of most such mishaps. Not letting humans have the driving control could help lower the road accident and mortality istanbul escort rates.

ADAS Sensor Market Emerging Trends

As a result, Europe and North America have been among the largest contributors to the ADAS sensor market till now. Moreover, the regions are home to numerous semiconductor and automotive technology companies, as well as automakers. Who are all working together on the enhancement of the autonomous driving technology and making it a reality. For instance, in its pilot program conducted in 2019, Waymo ferried 6,299 passengers in its robotaxis across California. Similarly, France, Switzerland, the Netherlands, Sweden, Norway, and Spain have modified their road transportation laws. To encourage the testing and future adoption of self-driving vehicles.

Hence, with efforts being made on a global level to make roads safer, the integration rate of ADAS sensors in vehicles will boom.

Also Read: Internet of Things in Automotive Market Growth, Development and Demand Forecast Report 2030

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Automotive Camera Sensor Market Overview

The growing prevalence of road accidents in several countries. Has made vehicular safety a priority concern area for governments and traffic authorities. As a result, the governments of many countries are increasingly enacting stringent policies. That mandate the use of advanced safety systems and features such as advanced driver assistance systems (ADASs) in automobiles. For example, in the U.S., 33 states implemented policies regarding the use of autonomous vehicles in 2017.

Additionally, 15 states passed as many as 18 bills regarding the deployment of autonomous vehicles in 2018. With the growing deployment of autonomous vehicles, the sales of automotive camera sensors are rapidly climbing in the U.S. Similarly, the governments and regulatory bodies of other countries are also implementing policies for mandating. The usage of ADASs in vehicles in order to enhance vehicular safety and reduce the incidence of road crashes.

Automotive Camera Sensor Market Growth

ADAS features such as traffic sign recognition (TSR), lane departure warning (LDW), road vulnerability detection, park assist. And surround view are heavily dependent on camera sensors for effective functioning. As a result, the increasing adoption of autonomous vehicles and automobiles equipped with these systems is boosting the requirement for advanced camera sensors. Which is, in turn, causing the boom of the global automotive camera sensor market.

Between them, the usage of the CMOS sensors will rise rapidly in the future years. Mainly because of their lower costs and lower power consumption rate than the CCD sensors. Moreover, the rapid technological advancements and innovations in the CMOS image sensors have greatly improved their camera performance, which is further augmenting their popularity across the globe.

Automotive Camera Sensor Market Outlook

These sensors are required in fully-autonomous and semi-autonomous vehicles. Due to the high technical reliance of the fully-autonomous vehicles on advanced and innovative ADAS sensors including the automotive camera sensors, the growing popularity of fully-autonomous vehicles will considerably boost the demand for these camera sensors in the coming years. Across the globe, the Asia-Pacific (APAC) automotive camera sensor marketwill exhibit rapid expansion in the forthcoming years, as per the estimates of the market research firm, P&S Intelligence

The growth of the industry in this region will be predominantly driven by the soaring investments being made by prominent automotive companies in R&D (research and development) activities. Additionally, the automotive camera sensor manufacturing companies in the regional countries are increasingly getting into collaborations with various technology providers for increasing their product portfolio, which is further propelling the sales of automotive camera sensors in the region. This is, in turn, driving the surge of the industry in APAC.

On account of the growing popularity of autonomous vehicles, rising incorporation of advanced safety systems such as ADASs in automobiles. And the increasing implementation of strict vehicular safety regulations in several countries around the world.

On-Board Charger Market Overview

The mushrooming demand for electric vehicles is encouraging electric vehicle charging system manufacturers to focus on developing technologically advanced and innovative variants. Moreover, with the surging concerns being raised over the deteriorating environmental conditions, many electric vehicle manufacturers are making huge investments in research and development (R&D) projects in order to fuel advancements in the electric vehicle technology. For instance, Fiat Chrysler Automobiles N.V. announced in July 2019 that it intends to make an investment of $788 million (EUR 700 million) for developing a manufacturing line for the newer models of its Fiat 500 minicar.

This manufacturing line will enable the production of around 80,000 units every year. These investments are causing a sharp fall in manufacturing costs, which is, in turn, leading to the production of affordable electric vehicles. This is subsequently pushing up the demand for on-board chargers. These projects have led to the development of batteries having increased power densities. Besides, the increasing deployment of alternating current (AC) charging stations in emerging economies is also fueling the expansion of the on-board charger market.

On-Board Charger Market Emerging Trends

Some of the major on-board charger manufacturing companies across the world are NXP Semiconductors N.V., Delta-Q Corporation, Delphi Technologies PLC, Eaton Corporation plc, Delta Electronics Inc., Avid Technology Inc., Toyota Motor Corporation, Infineon Technologies AG, and LG Chem Ltd.

Primarily because of the growing deployment of electric vehicles and the development of technologically advanced charging systems. On account of the surging investments being made by industry players across the world.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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