Strategy Analytics has forecasted that in 2020 automakers will be spending over $22 billion with their suppliers on advanced driver assistance systems - a substantial increase on the $8 billion that they spent in 2013.
"We see cameras as the ADAS sensor offering the best combination of growth and market size", stated Ian Riches, Director, Global Automotive Practice at Strategy Analytics. "NAFTA will be the largest market, particularly for reversing cameras. Europe will see strong demand for front-mounted cameras", he added.
"Although many cameras will be used in relatively low-end park assist systems, regulations from crash-testing authorities such as EuroNCAP are now driving forward-facing camera adoption for applications such as Autonomous Braking, Lane Departure Warning and Pedestrian Detection", commented Kevin Mak, Senior Analyst, Global Automotive Practice. "As more automakers seek to move towards the autonomous vehicle we anticipate that cameras will remain a key part of their strategies", he added.