GlobalData’s report, titled “Global Sector Overview & Forecast: Automotive Cameras – Q2 2024,” highlights the increasing demand for automotive cameras due to the integration of advanced driving assistance systems aimed at enhancing driving safety, reducing accidents, optimising traffic flow, and increasing convenience for drivers and passengers. These systems include features such as Automatic Emergency Braking, Adaptive Cruise Control, Lane Keeping Assist, and Blind Spot Detection, all of which use a network of cameras, sensors, and radars.
“To enhance driving safety, reduce accidents, optimise traffic flow, and increase convenience for drivers and passengers, advanced driving assistance systems are progressively gaining prevalence. ADAS components such as Automatic Emergency Braking, Adaptive Cruise Control, Lane Keeping Assist, and Blind Spot Detection, employ a network of cameras, sensors, and radars. Consequently, the increasing demand for ADAS is driving the demand for automotive camera components,” said Madhuchhanda Palit, Automotive Analyst at GlobalData.
Here are the highlights from the report
The report also highlights the role of autonomous vehicles in fueling the demand for automotive cameras and sensors. For instance, Nissan's LEAF prototype self-driving car comes equipped with an extensive sensor suite comprising 14 cameras, 10 radars, and 6 lidars.
China is at the forefront of producing Level 3 autonomous vehicles, with significant advancements expected to begin in 2024, supported by government initiatives. This progress has encouraged sector innovations focused on improving the performance and accuracy of automotive cameras.
“To improve accuracy and road safety, innovations are being introduced within the sector, which are in different stages of adoption. For instance, vehicular vision is an innovation in the early stages of development and refers to the use of cameras and other imaging technologies in vehicles to improve safety and situational awareness for drivers and passengers. This includes cameras mounted inside and outside the vehicles, as well as image processing and data analysis techniques to identify objects, hazards, and other important information,” added Palit.
Innovations in the automotive camera market
Several key companies, including Valeo, Continental, and Bosch, are at the forefront of driving these innovations in the automotive technology sector. Valeo, for example, has developed a sophisticated smart front camera positioned behind the windshield designed to detect road lines, traffic signs, vehicles, bicycles, and pedestrians effectively, thus enhancing safety and functional capabilities.
Similarly, Bosch has introduced the MPC3 multi-purpose camera, installed behind the windshield between the headliner and rear-view mirror. This camera is specifically engineered to rapidly and reliably recognise the vehicle's surroundings, offering significant potential benefits for autonomous driving applications.
Madhuchhanda Palit also commented on the broader market trends, highlighting the significant role of government initiatives and consumer awareness in driving demand.
“The increasing integration of advanced driving assistance features in vehicles, driven by government initiatives and heightened consumer awareness of road safety, has propelled manufacturers to equip their vehicles with enhanced safety features. This move helps in achieving superior safety ratings and subsequently bolster sales, thereby fueling the demand for automotive cameras. Furthermore, with the projected uptick in production and adoption of autonomous vehicles, the automotive camera sector is expected to witness a surge in both scope and necessity for innovations to uphold road safety standards,” concluded Palit.
As the market for automotive cameras continues to grow, with estimations of substantial increases in units sold over the next few years, the integration of advanced driving technologies and autonomous vehicle features is set to drive demand further, setting the stage for continuous innovation and development in the automotive camera industry.
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