Embedded Vision ADAS in the Automotive Industry
ADAS Automotive Market Set for Rapid Short-Term Growth
Embedded vision systems in the automotive industry are used primarily in advanced driver assistance systems (ADAS). Currently in the early stages of development, ADAS technology is dependent on advancements in imaging and processing capabilities in order to fulfill the aim to produce fully autonomous, driverless vehicles.
For now, both the United States and the European Union have mandated that all automobiles be equipped with basic ADAS functions by 2020. This is a major driver of short-term growth. The ADAS market is projected to experience an astounding 19% compound annual growth rate (CAGR) until it reaches $67.43 Billion in value by 20251.
Looking forward, demand for embedded vision systems, radar, LiDAR, and ultrasonic sensors will increase significantly as semi- and fully-autonomous vehicles become commercially viable. Huge opportunities lie ahead for those who enter this market early and define technical standards, establish fundamental system-design architecture, and secure intellectual property.
Embedded vision systems will become a regular component of automobiles, leading to rapid short-term growth and the long-term potential to transform any vision company who can establish their presence.
1. Grand View Research, “ADAS Market Size Worth $67.43 Billion By 2025 | CAGR 19.0%”