Automotive Vision Sensors Market Overview by 2031

Analyst Perceptive

The evolution of AI and the advancement of technology have extended the horizon of technology's capabilities. The AI-based vision sensors automatically determine imaging conditions and detection conditions with its AI capabilities specifically designed for presence and difference checking. The vision sensors are installed in the car for the safety and convenience of the driver. This feature and its reliability have resulted in the growth of the automotive vision sensor market. Therefore, several market players are focused on providing AI-based solutions, which further fuels the market growth. For example, Sony Semiconductor Solutions Corporation provides an intelligent vision sensor that enables high-speed edge AI processing within the sensor unit on top of image processing.

Market Overview

The vision sensor is nothing but an image processing system. The sensor first captures the image and then processes or analyzes it so the appropriate response can be taken. The automotive vision sensors market is expected to grow with a CAGR of more than 9% during the forecast period 2023-2031. The implementation of a few safety regulations by governments in countries around the world has made it mandatory to install more safety features in automobiles.

Market Driver

Rise in the demand for ADAS

The rapid advancement of technology and its accumulation in the automotive is enhancing its capabilities to perform better. Automobiles are becoming smarter, and it is all due to the technology installed in them. There has been an increase in the public's demand for advanced driver assistance systems (ADAS) as they provide an enhanced level of safety. ADAS provides features such as collision avoidance, pedestrian recognition, the distance between vehicles and objects, and several others. Automotive safety has been improved with the help of the vision sensors that have been installed. Thus, the demand for ADAS results in an increase in the growth of the automotive vision sensor market in the forecast period.

Market Scope

The "Global Automotive Vision Sensors Market Analysis to 2031" is a specialized and in-depth study of the Market with a special focus on the global market trend analysis. The report aims to provide an overview of the market with detailed market segmentation by Product and Application. The global automotive vision sensors market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading player and offers key trends and opportunities in the market.

Market Segmentation

The "Automotive Vision Sensor Market" is segmented on the basis of product and application. On the basis of product, the market is segmented into monocular vision and binocular (stereo) vision. On the basis of application, the market is segmented into commercial vehicles and passenger cars.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global automotive vision sensors market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions, namely North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The automotive vision sensors market by each region is later sub-segmented by respective countries and segments. The report covers an analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the region.

The report analyzes factors affecting the automotive vision sensors Market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions, namely North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the automotive vision sensors market in these regions.

Automotive Vision Sensors Market Report Analysis

MARKET PLAYERS

The reports cover key developments in the automotive vision sensors market, including organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players from the automotive vision sensors market are anticipated to have lucrative growth opportunities in the future with the rising demand for the automotive vision sensors market.

The report also includes the profiles of key automotive vision sensors market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last 3 years, and key developments in the past five years. Mentioned below is the list of a few companies engaged in the automotive vision sensors market.

• NXP Semiconductors
• Cognex Corporation
• TE Connectivity
• Continental AG
• Banner Engineering Corp.
• Renesas Electronic Corporation
• Texas Instruments Incorporated
• Delta Electronics, Inc.
• DENSO CORPORATION.
• Sick AG

Automotive Vision Sensors Market Report Scope