The Global Autonomous Driving Sensor Market was valued at USD 7349.55 Million in the year 2020. The global Autonomous Driving sensor market is observing lucrative growth owing to stringent regulatory standards regarding environment conservation, supportive government policies on energy conservation, as well as growing consumer awareness about product quality. The continuous rise in demand of electric vehicle in Asia Pacific region is driving the demand of industrial products from last few years. The recent technology promises substantial reduction in maintenance costs, which is why it is received by a significantly large number of buyers hailing from diverse industrial backgrounds.
The major factor that is boosting the demand for autonomous vehicle is rapid industrialisation in emerging economies. The burgeoning demand for a clean energy fuel vehicle by several industries around the world is supporting the growth of the market.
America region occupied the largest share in global Autonomous Driving Sensor market. The reason North America dominates is mainly because of rapid integration of high-value sensing modules, like RADAR, imaging, and LIDAR in automotive systems. The United States autonomous car market is witnessing growth due to the rapid digitization in connected cars, which is adding to their demand. The two necessary components of vehicle autonomy - vehicle-to-vehicle and vehicle-to-infrastructure connectivity - can be more easily integrated in connected cars than conventional ones.
Due to covid-19, vehicle production is expected to take a huge hit due to supply shortages and production suspensions. The demand for new vehicles in pandemic-affected countries is unlikely because of the lockdowns in effect. Due to the aforementioned factors, the autonomous sensors market is expected to face significant drop in 2021.
Cameras are the most commonly adopted sensor in a vehicle today. They are mainly used to detect objects like other cars on the road and roadside buildings, as well as for lane tracking and parking. As a result, they are installed all around a car. In addition, inside (in-cabin) cameras are also emerging for a variety of uses like detecting gestures and monitoring the driver.
Vehicles that require minimum human intervention and utilise advanced driver assist technologies, such as Adaptive Cruise Control (ACC), Adaptive Front Lights (AFL), Lane Keep Assist (LKA), and Intelligent Park Assist (IPA), to reduce the effort required to manoeuvre the vehicle. Minimal vehicle accidents, improved fuel efficiency, and engine productivity are some of the potential benefits of semi-autonomous vehicles.
The use of LiDAR sensors in road asset management, one of the latest autonomous vehicle sensors market trends, will also drive market growth. LiDAR finds multiple uses in the maintenance of transportation infrastructure and LiDAR technology has the potential to deliver measurements of objects much further from the survey vehicle. These advantages of LiDAR sensors will propel global autonomous vehicle sensors market growth.
Scope of the Report
ï¿½ The report analyses the Autonomous Driving sensor Market by Product Type (Camera, Radar, LiDAR).
ï¿½ The report analyses the Autonomous Driving sensor Market by Vehicle (Semi-Autonomous Vehicle, Fully Autonomous Vehicle).
ï¿½ The Autonomous Driving Sensor Market has been analysed By Region (Americas, Europe, Asia Pacific, MEA) and By Country (United States, Canada, Mexico, Germany, France, United Kingdom, Netherland, China, Japan, South Korea).
ï¿½ Also, the attractiveness of the market has been presented by region, Product Type, vehicle. Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
ï¿½ The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include Continental AG, Denso Corporation, Allegro Microsystems, Robert Bosch, Aptiv PLC, NXP Semiconductor, Valeo, Siemens AG, Mitsubishi Electric, STMicroelectronics.
ï¿½ The report presents the analysis of Autonomous Driving sensor market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
ï¿½ Autonomous Driving sensor Vendors
ï¿½ Consulting and Advisory Firms
ï¿½ Government and Policy Makers
ï¿½ Regulatory Authorities
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