Global Vision and Navigation System Market for Autonomous Vehicle: Focus on Components (Camera, LiDAR, Radar, Ultrasonic Sensor, GPS, and IMU), Level of Autonomy, and Region - Analysis & Forecast, 2019-2024

Global Vision and Navigation System Market for Autonomous Vehicle, 2019 - 2024

The global vision and navigation system industry for autonomous vehicle done by BIS Research depict the market is expected witness a CAGR of 26.78%, during the forecast period from 2019 to 2024.

The growth in the vision and navigation system market is due to the increasing sales of passenger and commercial vehicles and consumers’ growing emphasis toward road safety. Additionally, increasing adoption of autonomous components based on different levels of autonomy, and high growth rate of semi-conductor companies and component manufacturers is further going to drive the market.

Expert Quote on Global Vision and Navigation System Market for Autonomous Vehicle

“The vision and navigation system market for autonomous vehicle is witnessing a high growth rate due to the consumer inclination toward safety and automated features in a vehicle. Moreover, the demand for software is further going to increase in the coming years owing to the launch of Level 3, Level 4, and Level 5 vehicles, which require more automated features. Further, the growth of vision and navigation system market for autonomous vehicle in North America is the highest, due to strong economic growth, high disposable income, and presence of major OEMs. The vision and navigation system market for autonomous vehicle in this region is expected to grow at a significant CAGR, during the forecast period (2019-2024).”

Scope of the Market Intelligent on the Global Vision and Navigation System Market for Autonomous Vehicle

The vision and navigation system market research provide a detailed perspective regarding the applications of the systems, its value and estimation, among others. The purpose of this market analysis is to examine the vision and navigation systems outlook in terms of factors driving the market, trends, technological developments, and funding scenario, among others.

The report further takes into consideration the market dynamics and the competitive landscape along with the detailed financial and product contribution of the key players operating in the market. The vision and navigation system market report is a compilation of different segments including market breakdown by application and region.

Market Segmentation

The vision and navigation system market for autonomous vehicle has been tracked along the lines of components (camera, LiDAR, radar, ultrasonic sensor, GPS, and IMU), software, level of autonomy, vehicle type, and regions (North America, Europe, Asia-Pacific, and Rest-of-the-World). Revenue generated from different levels of autonomy (Level 1, Level 2, Level 3, Level 4, and Level 5) and vehicle types (passenger vehicle and commercial vehicle) have also been analyzed. The report also covers the vision and navigation system market on a global scale and consequently provides revenue data of the key regions. A separate segment specifically has been dedicated to the key global regions: North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).

Based on components, the global vision and navigation system market for autonomous vehicle is segmented into camera, LiDAR, radar, ultrasonic sensor, GPS, and IMU. The GPS segment is the highest revenue generating segment among all the components of vision and navigation system market, whereas LiDAR is expected to grow at the highest rate during the forecast period. The high growth rate of LiDAR sensor is attributed to the oncoming of Level 3, Level 4 and Level 5 vehicles in the future, which is expected to use these sensors for providing better safety and automated features. Apart from components, the report also provides the overall revenue generated from software which is going to increase at a significant rate in the coming future owing to the rise of more automated features to be used in Level 3, Level 4, and Level 5 vehicles.

Key Companies in the Global Vision and Navigation System Market for Autonomous Vehicle

The key suppliers present in the vision and navigation system market for autonomous vehicle report include Continental AG, DENSO CORPORATION, Velodyne LiDAR Inc., Valeo Group, TomTom International NV, Garmin Ltd., HERE Technologies, Aptiv PLC, and Autoliv Inc., among others."

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