Vehicle Camera Sensor Market Detailed Study of Business Growth with Top Players

Posted by Rahul Gautam on November 26th, 2020

The growing prevalence of road accidents in several countries has made vehicular safety a priority concern area for governments and traffic authorities. As a result, the governments of many countries are increasingly enacting stringent policies that mandate the use of advanced safety systems and features such as advanced driver assistance systems (ADASs) in automobiles. For example, in the U.S., 33 states implemented policies regarding the use of autonomous vehicles in 2017.

Additionally, 15 states passed as many as 18 bills regarding the deployment of autonomous vehicles in 2018. With the growing deployment of autonomous vehicles, the sales of automotive camera sensors are rapidly climbing in the U.S. Similarly, the governments and regulatory bodies of other countries are also implementing policies for mandating the usage of ADASs in vehicles in order to enhance vehicular safety and reduce the incidence of road crashes.

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The growth of the industry in this region will be predominantly driven by the soaring investments being made by prominent automotive companies in R&D (research and development) activities. Additionally, the automotive camera sensor manufacturing companies in the regional countries are increasingly getting into collaborations with various technology providers for increasing their product portfolio, which is further propelling the sales of automotive camera sensors market in the region. This is, in turn, driving the surge of the industry in APAC.

Hence, it can be said with surety that the sales of automotive camera sensors will rise steeply all over the world in the upcoming years, on account of the growing popularity of autonomous vehicles, rising incorporation of advanced safety systems such as ADASs in automobiles, and the increasing implementation of strict vehicular safety regulations in several countries around the world.

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Rahul Gautam

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Rahul Gautam
Joined: June 14th, 2018
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