The global automotive optic lenses in safety system (AOLSS) market is forecast to grow at a CAGR of 45.56% and 20.28% by optimistic sizing and pessimistic sizing methodology respectively, during the period 2016-2020.
According to the report, the quest for automobile safety is considered one of the key drivers in the development of advanced driver and automobile safety systems. Advanced safety and security features are no longer limited to luxury vehicles. Consumers are now more aware about safety systems and technologies and are taking interest in improving the safety systems for their vehicles. As a result, electronic equipment such as radar, cameras, and sensors are now being increasingly installed, even in entry-level vehicles.
Further, the report states that the automotive camera module market faces the challenge of high replacement costs. An automotive camera is an essential component for the proper functioning of the driver assistance and safety systems. Automotive camera plays a critical functioning in the vehicle, as it provides blur-free and crisp image of the blind spots and nearby surroundings of the automobile.
In actual scenario, the replacement costs of automotive cameras are not that high but the total cost of repair, which includes the removal or replacement of the cameras and image sensors, is very time consuming and involves high cost of labor. If the automotive cameras and image sensors are not treated properly, it may lead to severe accidents, which would lead to even more expensive operation of the entire automobile rebuilding.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Hitachi Maxell
- Boowon Optical
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by geography
PART 07: Market drivers
PART 08: Market challenges
PART 09: Market trends
PART 10: Vendor landscape
PART 11: Key vendor analysis
PART 12: Appendix
PART 13: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/8n3krg/global_automotive
Research and Markets
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SOURCE Research and Markets