LONDON--(BUSINESS WIRE)--The global automotive camera-based ADAS market is expected to grow at a CAGR of close to 19% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global automotive camera-based ADAS market by ADAS technology, including LDWS, NVS, and PAS. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increased focus on automotive safety
As passenger safety has become a prime concern for automotive manufacturers, the use of various active and passive automotive safety systems is increasing. During the last decade, the automotive industry has been continuously working on improving road safety by preventing accidents and injuries. Human errors are the prime cause of accidents, and due to this, most of the safety measures are focused on drivers. Technical measures such as the active safety system helps in preventing accidents by warning the driver to take precaution before its occurrence.
According to a senior analyst at Technavio for automotive electronics research, “The most common causes of distraction, while driving, are messaging, surfing, and speaking over the phone. Change in lifestyle, working late, and driving for long hours are leading to sleep disorders, driver fatigue, stress, and drowsy driving, leading to high chances of accidents. Therefore, automobile safety is growing as an important feature for both customers and vehicle manufacturers.”
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Market trend: growing popularity of stereo cameras for ADAS applications
The constant changes emerging due to the advances in automotive and non-automotive electronics, as well as the advent of better and smarter algorithms, which are constantly in search of near-human intelligence, is changing the ADAS landscape. This led to the shift from monocular cameras to stereo cameras, which earlier transited from radar-based to camera-based technologies. Additionally, owing to its ability to respond to an event requiring lesser response time from the driver, AEBS is becoming a prime stereo camera application. The advantage of a stereo camera in the AEBS market is driving the adoption of camera technology in ADAS, which further drives the global automotive camera-based ADAS market.
Market challenge: high expense of ADAS
A major challenge for the concerned market is the high cost associated with the procurement and maintenance of ADAS technologies based on radars, cameras, and sensors. The major cause of the high price in ADAS is attributed to the sensitive and complex image analysis algorithms, which has limited their usage to luxury vehicles. For example, the average cost of ACC system is more than USD 1,500, which is not available in low-cost vehicles.
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