The COVID-19 pandemic has had a sudden and significant impact on the automotive industry, which is globally interconnected.
The automobile industry maintains a very strong presence and value, considering the fact that many major corporations have challenges with overcapacity and low profitability. The sector also has decent benefits for well-paid workers, has close ties with producers (which gives it an oversized position in economic development), and has a strong political impact. Technology has also redefined the way vehicles use fuel, with the internal combustion engine and gasoline-fed engines starting to displace wind, hybrid and solar energy systems in automobiles as the driving power of the future. Around the same time, though, the advancement of automated technology and continuous computers have started to improve consumer interactivity while reducing the need to take direct control of 'driving.
Many new vehicles have autonomous systems, such as autonomous emergency braking (AEB). AEB systems use radar, cameras, and lidar technologies to determine the road ahead and figure out possible accidents. In general, these devices warn the driver that action is required to avert a potential collision, and then, if no action is taken, the AEB will be activated on the driver's behalf. The use of tiny cameras in the vehicle makes it easier for the driver to search for concealed items that are normally impossible for the driver to see from the driving seat. There are tire pressure sensors to avoid collisions, lane shift sensors, and crash control sensors. The use of an anti-lock brake mechanism and stability control both allow drivers to keep their vehicles under control while driving.
The COVID-19 pandemic has had a sudden and significant impact on the automotive industry, which is globally interconnected. Some of the potential consequences of the pandemic outbreak include loss of shipments of Chinese parts, large-scale disruption of production throughout Europe, and the closing of assembly plants in the United States. This places extreme pressure on an industry that is already dealing with a downshift in global demand, which is expected to lead to an intensified interest in mergers and acquisitions.
The automotive camera market was estimated at $6,304.2 Million in 2019 and is projected to grow at a CAGR of 13.94% during the forecast period 2020-2025. Top players operating in the automotive camera include Ficosa International S.A., Continental AG, Denso Corporation, Hella KGaA Hueck & Co., OmniVision Technologies, Inc., Stonkam Co., Ltd., Hyundai Mobis Co. Ltd., Kappa optronics GmbH, Magna International Inc., Ricoh Company Ltd., Robert Bosch GmbH, STMicroelectronics N.V., Valeo Group, LG Innotek Co., Ltd., and Aptiv PLC.
Passenger Cars Segment Dominate the Automotive Camera Market:
The passenger car segment has a large market share in the automotive camera market compared to the commercial vehicle segment due to the more usage of cameras in passenger cars. A few companies in the automotive camera market, such as Robert Bosch GmbH, Denso Corporation, and Mobileye N.V., manufacture cameras specifically designed for commercial vehicles. A passenger vehicle often incorporates advanced camera systems such as AI-enabled thermal camera systems, lane change detection, blind spot detection, and emergency braking system, which are costlier and have complex semantics to give a better driving experience to the drivers.
OEMs are exploring both mono cameras and stereo cameras today. Mono-cameras are currently the primary computer vision option for specialized driver assistance systems due to their low price point and lower processing requirements (ADAS). Mono-cameras, all with reasonable precision, can do many things fairly well, such as distinguishing lanes, pedestrians, traffic signals, and other vehicles in the car's direction. The monocular system is less reliable in calculating the 3D view of the world. Stereo cameras can receive the world in 3D and provide an element of depth perception due to dual lenses.
Bosch provides a versatile interface for the stereo video camera, which blends the existing functions of a mono camera with the advantages of stereo technology's three-dimensional (3-D) environment detection. Hitachi Automotive Systems announced the development of a stereo camera that makes automatic emergency braking (AEB) at intersections based solely on a stereo camera by integrating distant object detection with wide-angle viewing and radar without millimeter waves. The 4th generation stereo vision camera from Veoneer provides a XX-degree field of view setup with a resolution of XX megapixels. The system is made up of fully optimized hardware, algorithms, and features and is customized for highly automated driving problems where there is little requirement for dependency on instruction or classification. Continental Group has the same kind of offering through its stereoscopic camera.
Autonomous vehicles can accurately sense objects in their direction with today's digital 3D cameras. Modern technologies have information so precise that it can determine any object or a human causing an obstacle. A critical basis for the successful deployment of autonomous vehicles is the accurate identification of the surrounding environment. 3D cameras can also be used, in addition to sensor systems such as lidar, radar, and ultrasound to enable an autonomous vehicle to reliably identify its own location and that of the objects surrounding it at any moment to encourage the precise planning of maneuvers.
Key Questions Answered by This Report:
? For a new company looking to enter the market, which areas could it focus upon to stay ahead of the competition?
? How do the existing market players function to improve their market positioning?
? Which are the promising companies that have obtained financial support to develop their products and markets?
? How does the supply chain function in the automotive camera market?
? Which companies have been actively involved in innovation through patent applications, and which products have witnessed maximum patent applications during the period 2017-2020?
? Which product segment is expected to witness the maximum demand growth in the automotive camera market during 2020-2025?
? Which are the players that are catering to the demand for different cameras?
? How should the strategies adopted by market players vary for different product segments based on the size of companies involved in each segment?
? What are the key offerings of the prominent companies in the market for automotive cameras?
? What are the demand patterns of automotive cameras across the application areas in different regions and countries during the period 2019-2025?
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