Strategy Analytics: Strong Growth in Advanced Driver Assistance Systems to Drive Market for Automotive Cameras Annual Camera Volumes to Exceed 100 Million by 2020 as Automakers Move Towards Autonomous Cars
BOSTON, Feb. 11, 2014 /PRNewswire/ -- The continued adoption of Advanced Driver Assistance Systems by automakers is helping to fuel strong and growing demand for cameras in light vehicles. The latest Strategy Analytics Automotive Electronics Service (AES) report "Advanced Driver Assistance Systems Demand Forecast 2007 to 2020" predicts that camera volumes will grow at over 28 percent per year over the period 2013 to 2018, and exceed 100 million units by 2020. Click here for the report: https://www.strategyanalytics.com/default.aspx?mod=reportabstractviewer&a0=9354
Strategy Analytics forecasts that in 2020 automakers will be spending over $22 billion with their suppliers on advanced driver assistance systems – a substantial increase on the $8 billion that they spent in 2013.
"We see cameras as the ADAS sensor offering the best combination of growth and market size," stated Ian Riches, Director, Global Automotive Practice at Strategy Analytics. "NAFTA will be the largest market, particularly for reversing cameras. Europe will see strong demand for front-mounted cameras," he added.
"Although many cameras will be used in relatively low-end park assist systems, regulations from crash-testing authorities such as EuroNCAP are now driving forward-facing camera adoption for applications such as Autonomous Braking, Lane Departure Warning and Pedestrian Detection," commented Kevin Mak, Senior Analyst, Global Automotive Practice. "As more automakers seek to move towards the autonomous vehicle we anticipate that cameras will remain a key part of their strategies," he added.
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SOURCE Strategy Analytics