Market Size of Global Automotive Imaging Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Automotive Imaging Market Analysis
Global Automotive Imaging Market is expected to grow with a CAGR of 12.2% during the forecast period. Automotive imaging combines several image sensors into a single virtual unit with a resolution that exceeds that of the human eye. Horizontal coverage, 3D object resolution, static and dynamic object screening, and real-time data are all things that automotive imaging may assist with. Advanced sensors are creating enormous growth potential in the automotive imaging industry due to the capability of capturing near-real-time images.
- With the growth of technologies in the automotive industry that includes smart automobiles, head-mounted augmented and virtual reality (AR/VR) devices, camera drones, Internet of Things (IoT) appliances, and 3D facial-recognition systems for security and surveillance.
- The demand for Automotive advanced driver assistance systems (ADAS) and electric vehicles is growing. 3D imaging in automotive systems is a critical component of automation, aided by advances in CMOS image sensors.
- The growing trends in the automotive industry toward self-driving cars and electric vehicles are expected to be the critical drivers for newer applications of LiDAR. Self-driving cars increasingly use LiDAR sensors for generating huge 3D maps for 360° vision and for accurate information to assist in self-navigation and object detection.
- COVID-19 has had a significant influence on the global automotive industry. China is the COVID-19 hotspot that has been heavily struck by manufacturing automotive car production. Since all borders were closed, it caused supply chain difficulties. COVID-19 significantly influenced the production and sales of the automotive imaging market.
- However, the automotive imaging market started gaining momentum owing to the mandates by different countries requiring advanced safety features to be installed in the vehicles. The development of new technologies, such as night vision cameras, and the growing e-mobility, is expected to bolster the market growth.
