The global Camera Based ADAS System market is projected to experience significant growth between 2023 and 2030, driven by the rising adoption of strategies by key players in the industry. Vision-based ADAS systems, which use embedded vision or computer vision systems to identify and track potential hazards on the road, are expected to play a crucial role in this market’s growth.
An embedded vision system typically consists of a compact board level camera and a single board computer or system on module. These systems use digital processing and intelligent algorithms to interpret real-time images or videos captured from onboard cameras, enabling them to identify objects such as people, pedestrians, vehicles, and traffic signs.
According to a market analysis report, the global Camera Based ADAS System market size is estimated to be worth USD million in 2022, with a projected CAGR of Percent during the forecast period from 2022 to 2028. Front cameras are expected to account for the largest share of the market, growing at a revised Percent CAGR from 2022 to 2028.
North America is estimated to have a significant market share in the Camera Based ADAS System market in 2021, followed by Europe. The Asia region, particularly Japan and South Korea, is also expected to contribute to the market’s growth over the next six years.
The global Camera Based ADAS System market is dominated by major manufacturers such as Valeo, IPG Automotive, Jabil, Continental Ag, Delphi Automotive PLC, Robert Bosch Gmbh, Aisin Seiki Co. Ltd, Autoliv Inc, and Denso Corporation, among others.
Key drivers for the growth of the Camera Based ADAS System market include the growing demand for these systems in passenger cars, light commercial vehicles, and heavy commercial vehicles worldwide.
In conclusion, the Camera Based ADAS System market is witnessing significant growth potential, driven by the increasing adoption of vision-based ADAS systems and the demand for safer and more reliable driving experiences. Major players in the industry are investing in strategies to capitalize on this growth and meet the evolving needs of consumers.
FAQs
1. What are the factors driving the growth of the Camera Based ADAS System Market?
The growing demand for camera-based ADAS systems in passenger cars, light commercial vehicles, and heavy commercial vehicles is a key factor driving the market’s growth.
2. What are the types of Camera Based ADAS System available in the Market?
The market offers various types of camera-based ADAS systems, including front cameras, rear cameras, driver monitoring systems, and surround view systems.
3. Which regions are leading the Camera Based ADAS System Market?
Currently, North America holds a significant market share in the Camera Based ADAS System market, followed by Europe. The Asia-Pacific region, particularly Japan and South Korea, is also expected to contribute to the market’s growth.
4. What is the market outlook for the Camera Based ADAS System?
The global Camera Based ADAS System market is projected to experience substantial growth between 2023 and 2030, with a CAGR of percent during the forecast period.