Automotive Camera Market Trends
Automotive cameras work on the principle of detecting the obstacles present in the vehicle’s surrounding by using the images captured. The data collected through the captured images is processed by vehicle’s ECU. After the data is processed, output is provided in the form of a warning to the driver (lower level of automation) or controlling the lateral and longitudinal movement of the vehicle (higher level of automation).
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The evolved growth of the automotive camera market has been attributed to several factors, such as government rules mandating the integration of cameras in the vehicles, high operational usage of cameras in parking assist systems, and the ability of the cameras to recognize traffic signals and to differentiate colors. In addition to this, tier 1 manufacturers, such as Valeo are replacing the wing mirrors of the vehicles with cameras. For instance, in January 2016, Valeo launched its Sightstream system, this system replaced the exterior wing mirrors by cameras. As claimed by Valeo, replacing mirrors with cameras not only improves vehicle’s fuel efficiency but also assists the drivers by providing greater field of view, and clearer images in all weather conditions. This replacement of mirrors with cameras is expected to further fuel the growth of the market.
The global automotive camera market according to the camera type. Rear view cameras were estimated to hold the lion share (XX%) in the automotive camera market for the year 2017. The market dominance of rear view cameras is attributed to the factors, such as low cost of these camera and low power consumption. The low cost and high operational performance associated with rear view cameras has led to the present mass deployment of these cameras in automobiles. In addition to this, government rules mandating the use of rear view cameras further pushes the integration of rear view cameras in automotive. For instance, in March 2014, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) announced the final rule to improvise vehicle safety. The rule mandates integration of rear visibility technology in all new automobiles which are below XX pounds by May 2018. This compulsive implementation of rear view camera systems for automotive is anticipated to increase the market volume and drive the rear-view camera market at a robust pace during the forecast period.
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