Automotive Machine Vision Market To Grow With Demands For Self-Driving Cars
Growing technological advancement and investments drive the Global
Automotive Machine Vision Market, 2027F.
According
to TechSci Research report, “Automotive Machine Vision Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”. Global
automotive machine vision market is anticipated to register an impressive
growth with a CAGR during the forecast period, 2023-2027, due to higher demands
for technological automations in the automotives. Growing deployment of the
autonomous vehicles coupled with advancing features of SAE Level 3 and 4
technologies further drive the growth of the global automotive machine vision
market in the upcoming five years. Higher concerns for the driver’s safety,
along with complete shift in safety critical functions to the vehicle also
supports the growth of the global automotive machine vision market in the next
five years. Technological advancements like Light
Detection and Ranging (LiDAR) sensors and advanced
driver’s assistance software (ADAS) also substantiate the
growth of the global automotive machine vision market in the future five years.
3D machine vision is a rising trend that delivers precise and real-time
information to improve performance in applications. It detects objects
irrespective of position. 3D vision allows robots to know what is in front of
them and react appropriately. Environmental awareness in the technology further
adds to the value of the self-driving vehicles thereby facilitating the growth
of the global automotive machine vision market in the forecast years through
2027F.
Machine
vision enables the dimensional gauging of precision-machined components, such
as fasteners, transmissions, and other sub-assemblies such as IVS-ASAi. With dimensional
gauging measures lines, angles, diameters, and tolerances the automotive
machine vision systems are programmable for further evolution that would add to
the growth of the global automotive machine vision market in the forecast
period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on " Global Automotive Machine Vision Market"
The
global automotive machine vision market segmentation is based on component,
vehicle type, vehicle autonomy, regional distribution, and competitive
landscape.
Based on component, the market is differentiated between hardware
and software. Moreover, hardware systems are anticipated to hold the largest
revenue shares of the market and dominate the market segment in the upcoming
five years on the ground of development and adoptions of AI-based cameras as
these systems offer safety features, such as adaptive cruise control, adaptive
headlamp control, traffic
sign recognition, forward collision warning,
pedestrian detection, and automated braking. The systems adds privileges
like cost efficiency, and amalgamation of technologies for reliable safety, and
highly compact form factor. Software segment is anticipated to hold the significant
revenue shares of the market on the account of growing advancement in the
technologies.
By
vehicle type, the market is fragmented between passenger cars and commercial
vehicles. Passenger cars are anticipated to hold the largest revenue shares of
the market and dominate the market segment in the upcoming five years on the ground
of higher sales of the passenger cars. Growing demand for the electric vehicles
and technologically enhanced self-driving vehicles further adds to the growth
of the market. Moreover, demand for the driver’s safety in a self-driving
vehicle also adds to the growth of the market.
Based
on vehicle autonomy, the market is bifurcated into level 1, level 2, level 3,
and level4/5. The market analysis also studies the regional segmentation,
divided among Asia-Pacific region, North American region, European & CIS
region, South American region, and Middle East & African region.
Some
of the market players, dominating the global automotive machine vision market
are :
- CXV Global Ltd.
- Stemmer Imaging AG
- Keyence Corporation
- Mech-Mind Robotics Technologies Ltd.
- AlwaysAI, Inc.
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“Asia Pacific region is anticipated to
hold the largest revenue shares of the market and dominate the regional segment
of the market in the upcoming five years. Growing demand for the safe,
efficient, and convenient driving experience facilitates the market growth in
the region. Also, availability of the multiple market players highly invested
in the development of the technological advancement and actively investing in
the segment also add to the growth of the global automotive machine vision
market in the future five years. Rising population in the countries like China,
India, South Korea, incorporated with the demands for the ownership of the
personal vehicles also substantiate the growth of the global automotive machine
vision market in the future five years. New market players may focus on research
and product development. Technological advancement in the automotive machine
visions to enhance their performance would allow them to establish their brands
in the market and support the market growth in future too,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global management
consulting firm.
“Automotive Machine Vision Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2017-2027, Segmented By Engine Type
(Turbofan, Piston, Turboprop, Turboshaft), By Aircraft Type (Narrow Body,
Rotocrafts, Business Aircrafts, Fighter Aircrafts, Wide Body Aircrafts,
Regional Aircrafts), By Platform (Fixed Wing and Rotary Wing), By Application
(Commercial, Military), By Region”, has evaluated the future
growth potential of global automotive machine vision and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global automotive machine vision market.
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