Demand for Vehicle Safety Systems like ADAS to Fuel the Automotive Vision System Market
Added: (Mon Feb 25 2019)
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Transparency Market Research in its new report titled, “Automotive Vision System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026,” provides key insights on the automotive vision system market. The new report anticipates that the Increase in demand for advance safety systems such as ADAS in vehicles will drive the automotive vision system market during the forecast period i.e, 2018-2026. Increase in the production of vehicles and the rise in demand for vehicle safety with improved vision system in order to enhance visibility for the driver are also projected to boost the automotive vision system market during the prognosis period, the report says.
The TMR report has segregated the automotive vision system market on the basis of system, components, vehicle type, sales channel, and region. In accordance with system, the automotive vision system market is segregated into two segments. Among which, the night vision system segment accounts for a major share of the market. This is due to a longer vision range and high contrast for living objects during the night. Based on components, the automotive vision system market is classified into four segments. The image sensor segment held a significant share of the automotive vision system market, as these sensors are utilized to detect the surroundings by converting light waves into signals. The display segment also accounts for a prominent share, as it displays the surrounding by receiving the input from the sensors on the screen.
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In terms of vehicle type, the automotive vision system market is classified into three segments. The passenger vehicle segment holds a prominent share of the automotive vision system market. The passenger vehicles segment can be further sub-segmented into hatchback cars, sedans, multi-purpose vehicles, and sports utility vehicles. Based on sales channel, the automotive vision system market is divided into two segments. Among which, the original equipment manufacturers (OEMs) segment accounts for a major share of the market, as a large fleet of vehicles is employed with upgraded automotive vision systems. The OEMs segment is expected to expand at a significant growth rate due to the higher rate of adoption and regular upgradation of technology.
Based on regional perspective, the automotive vision system market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among regions, North America and Europe account for a dominant share of the global automotive vision system market owing to the high rate of adoption of active safety systems such as ADAS and expansion of the automotive sector in these regions. This has led to an increase in production of vehicles deployed with automotive vision systems. The automotive vision system market in these regions is anticipated to expand at a rapid pace during the forecast period owing to the availability of advanced technologies and the presence of major OEMs in the region.
Major players operating in the global automotive vision system market are profiled in this report to give a better competitive analysis and these include Continental AG, Robert Bosch GmbH, NXP Semiconductors, Delphi Technologies, ZF Friedrichshafen AG, Autoliv Inc., Stemmer Imaging Ltd., SMR Deutschland GmbH, and Omron Corporation.
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