The increasing popularity of autonomous and luxury vehicles and the rising integration of advanced safety features in automobiles are some of the major factors fuelling the surge in the adoption of camera modules in automobiles across the world. Furthermore, the mushrooming incidence of road mishaps and accidents is boosting the growth of the insurance companies, who are in turn, promoting the incorporation of complementary metal-oxide semiconductor (CMOS) sensors such as camera module sensors having several features and affordable costs in vehicles all over the world.
The increasing number of regulations and policies being implemented by the governments of several countries for mandating the adoption of multi-purpose cameras in vehicles in order to reduce the prevalence of road accidents and the growing popularity of the New Car Assessment Program (NCAP) are the other major factors boosting the demand for automotive camera modules throughout the globe. As a result, the global automotive camera module market is expected to exhibit substantial growth during the forecast period (2020—2030).
The automotive camera modules are divided on the basis of technology into infrared, thermal, and digital camera modules. Out of these, the thermal camera modules are predicted to register the highest sales during the forecast period. This is ascribed to the ability of the thermal cameras to operate properly in adverse weather conditions such as rain and fog and their widespread usage in night vision systems. The infrared camera modules are also predicted to record tremendous growth in usage during the forecast period, primarily because of the presence of infrared camera technology in autonomous vehicles across the globe.
One of the prominent trends presently being witnessed in the automotive camera module market is the rising adoption of automotive camera modules and cameras in advanced driver assistance systems (ADAS) across the world. Many original equipment manufacturers (OEMs) are increasingly developing and integrating advanced night vision camera modules in automobiles for curtailing the prevalence of road collisions. In addition to this, the modular automotive reference system (MARS), comprising image sensors, image signal processors, and various types of lenses is being increasingly adoption in autonomous vehicles, in-cabin cameras, and surround-view and rear-view systems.
Europe is expected to register the second highest sales of automotive camera modules during the forecast period, due to the presence of various regulations and norms regarding the integration of ADAS and other safety technologies in passenger cars in the region.
Therefore, it can be concluded that the demand for automotive camera modules will shoot-up throughout the world in the coming years, mainly because of the rising sales of autonomous and premium-class vehicles, increasing incidence of road accidents and collisions all around the world, and the ballooning requirement of advanced safety systems and features in vehicles across the world.