LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global automotive image sensors market to grow at a CAGR of close to 24% during the period 2018-2022, according to their latest report.
One of the key trends impacting the growth of the market is the development of high-sensitivity CMOS image sensor with LED flicker mitigation. The automotive industry witnessed the transformation of CCD image sensors to CMOS image sensors in the past due to the demand for low-cost and high-performance image sensors. The increasing adoption of cameras for various ADAS technologies has created demand for high dynamic range (HDR) capable image sensors. Consequently, the prominent image sensor suppliers are developing HDR capable image sensors and have unveiled the same in recent years.
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In this report, Technavio analysts highlight the reduction in cost as a key factor contributing to the growth of the global automotive image sensors market:
Reduction in cost
The global automotive image sensors market has witnessed a reduction in the cost of image sensors. This is mainly because of their increased adoption in smartphone and other consumer electronic applications. The adoption of image sensors in consumer electronics and smartphones has allowed image sensor manufacturers to experience economies of scale, which further resulted in price reduction. The automotive industry did not benefit just from the reduction in cost but also by improved performance and picture quality.
According to a senior analyst at Technavio for automotive electronics, “In addition to image sensors, the camera modules too witnessed a significant reduction in cost owing to the economies of scale. These reduced prices are expected to push the adoption of camera-based ADAS in more automotive applications and entry-level passenger cars because of which the global automotive image sensors market will witness significant boost.”
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Global automotive image sensors market segmentation
This market research report segments the global automotive image sensors market based on technology (driver support system, ADAS, and autonomy), application (passenger cars and commercial vehicles), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the passenger cars segment held the largest market share in 2017, accounting for more than 69% of the market. The market share of this application segment is expected to increase by nearly 7% during the forecast period.
The Americas was the leading region for the global automotive image sensors market in 2017, accounting for a market share of over 37%. The market share of this region is expected to witness a significant decrease by 2022. However, the Americas will dominate the market throughout the forecast period.
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