Automotive Sensors Enabling Advanced Vision, Awareness, and Emergency Response Systems Will Experience Strong Growth as Automakers Embrace Systems for Improved Safety and Vehicle Autonomy
The market for advanced driver assistance systems (ADAS) is on the verge of a tipping point. Driven largely by a quest for improved safety, either via government mandates or a desire to receive top-tier crashworthiness ratings, automakers are rapidly incorporating new technologies and systems that are designed to help drivers avoid accidents by improving their situational awareness, improving reaction times, or enhancing the vehicle’s response to adverse conditions. Key components that are enabling ADAS include cameras, image processors, system processors, ultrasonic sensors, solid-state lidar, high-end lidar, radar sensors, and infrared sensors, among others.
According to a new report from Tractica, ADAS component shipments will increase at a healthy pace over the next decade, rising from 218.1 million units shipped in 2016 to 1.2 billion units by 2025. By that time, the market intelligence firm forecasts that the ADAS component market will reach $89.3 billion in annual revenue.