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Technavio's research study provides comprehensive information on the factors affecting the growth of the automotive image sensors market across the following regions.
- APAC
- Europe
- North America
- South America
- MEA
Automotive Image Sensors Market in Europe:
"Europe occupied about 30% of the market share in 2020 and the region is offering significant growth opportunities for market vendors. Technological advances and the presence of stringent regulations on vehicle emissions, safety features, and fuel efficiency will drive the market growth in Europe," says a senior analyst at Technavio.
Factors such as the high adoption of light-duty vehicles, rapid urbanization, economic stability, a significant presence of automobile manufacturers, increasing demand for navigation systems among consumers, and rising adoption of smartphones will be crucial in driving the growth of the market in Europe. The revenue contribution to the market in Europe will be maximum from countries such as France, Germany, and the UK.
Automotive image sensors Market in North America:
"Automakers operating in North America are increasingly adopting ADAS, driver support, and autonomy features in their vehicles. Besides, the increasing sales of high-end vehicles and the establishment of vehicle manufacturing plants in Mexico by major automakers will have a positive impact on the growth of the market," says a senior analyst at Technavio.
The market is expected to register a 26.90% CAGR in North America during 2021-2025. Factors such as the rising adoption of autonomous vehicles and the introduction of legislation to permit the testing of automated vehicles will be crucial in driving the automotive image sensors market growth in North America. The revenue contribution to the market in North America will be maximum from the US.
Automotive Image Sensors Market in APAC:
"Automobile sales have increased significantly over the years in countries such as China, India, Japan, and Indonesia. Governments in these countries are making significant investments in infrastructure development and industrialization. Besides, automakers such as Honda, Renault, Kia, and BMW are introducing features such as ADAS to comply with stringent regulations, which is subsequently fostering the growth of the market in focus," says a senior analyst at Technavio.
The market is expected to register a 35.58% CAGR in APAC during the forecast period. The entry of luxury car manufacturers and rising concerns over vehicle safety will fuel the growth of the automotive image sensors market in APAC. China is the major market for automotive image sensors in the region.
Know about the major factors impacting the growth of the market across other regions by downloading our free sample report:
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The global automotive image sensors market is driven by the following factors:
- Regulatory standards with respect to image sensor quality
- Stringent regulations to increase adoption of advanced safety systems
- Steady growth of camera-based ADAS market
Based on the technology, the report segments the automotive image sensors market by driver support system, ADAS, and autonomy.
The driver assistance system segment registered maximum growth in the market in 2020. The segment is driven by the growing need to prevent vehicle accidents. The market growth in the segment will be significant during the forecast period.
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Top vendors highlighted in the Automotive Image Sensors Market Report:
The report offers insights on key products offered and business strategies adopted by major vendors including,
- Continental AG
- DENSO Corp.
- Gentex Corp.
- NXP Semiconductors NV
- OmniVision Technologies Inc.
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