The 2019 Global ADAS & Autonomous Driving Component Market: Analysis & Forecast (2018-2028) - ResearchAndMarkets.com
Summary
The automotive industry has grown organically and is on a transitional shift from traditional mechanism to autonomous driving, which boosts the demand of components such as camera, ultrasonic sensors, radar, LiDAR, and ECU. This is mainly due to the higher cost of ECU as compared to other components such as camera, ultrasonic sensors, radar, and LiDAR. Owing to the critical nature of autonomous systems and the need for development for effective sensors, the automotive industry witnessed the introduction of LiDARs. It offers a greater range, wide field of view and improved accuracy to spot the obstacles when compared to other object sensing components such as camera, radars, and ultrasonic sensors. Also, the integration of a large number of autonomous system in passenger cars, as compared to commercial vehicles boosts the market growth.