The Global New Car Assessment Programme (Global NACP) launched by the Towards Zero Foundation aims to create a world that is free from road fatalities and serious injuries. This programme supports the democratization of vehicle safety by encouraging the adoption of advanced automotive designs and technologies across the world. Additionally, NACP also aspires to promote the deployment of vehicle safety technologies with proven effectiveness by increasing public awareness regarding such features and supporting their mandatory application. To comply with the safety standards of this programme, automakers are increasingly integrating automotive camera modules in their offerings.
Additionally, the accelerating demand for autonomous and luxury vehicles will also contribute to the progress of the automotive camera module market during 2020–2030. According to the Autonomous Vehicle Implementation Predictions: Implications for Transport Planning, published by the Victoria Transportation Policy Institute, autonomous vehicles will be reliable and safe by 2025 and maybe commercially available in several parts of the world by 2030. As per this report, at least half of the new vehicles will be autonomous by 2045.
Automotive camera modules offered by Hyundai Mobis Co. Ltd., Magna International Inc., STONKAM Co. Ltd., OmniVision Technologies Inc., DENSO Corporation, Autoliv Inc., Robert Bosch GmbH, Clarion Co. Ltd., and Valeo SA are used for lane departure warning (LDW), autonomous emergency braking (AEB), adaptive cruise control (ACC), blind spot detection (BSD), and park assist (PA) applications in vehicles. Camera modules being manufactured by these companies are based on digital, infrared, and thermal technologies. In the coming years, thermal cameras will be integrated at the highest rate, due to their surging use in night vision systems.
According to P&S Intelligence, North America will dominate the automotive camera module market in the forthcoming years, due to the booming demand for luxury vehicles and increasing installation of ADAS in passenger cars and commercial vehicles in the region. Whereas, the European region is expected to emerge as the second-largest consumer of automotive camera modules in the upcoming years. This will be due to the surging implementation of government regulations that encourage the installation of safety features and ADAS in automobiles, primarily in passenger cars.
Thus, the soaring prevalence of road accidents and burgeoning demand for autonomous and luxury vehicles will propel the usage of automotive camera modules in the coming years.
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