According to the research report titled ‘Global Autonomous Driving Sensor Market: Analysis By Product Type, (Cameras, Radar, LiDAR), Vehicle (Semi-Autonomous, Fully Autonomous), By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with Market Study Report, global autonomous driving sensor market was assessed at USD 7349.55 million in 2020 and is projected to expand substantially between 2021-2026.
 

Stringent regulatory standards & supportive government policies to conserve energy coupled with increasing consumer awareness regarding product quality are key factors spurring global autonomous driving sensor market expansion.
 

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Moreover, surging demand for electric vehicles due to reduction in maintenance costs along with fast paced industrialization in developing countries will facilitate industry growth. Increasing demand for clean energy run vehicles among industries worldwide will stimulate market augmentation as well.
 

Speaking of COVID-19 impact, vehicle production is likely to be affected greatly due to production suspensions and supply shortages. Frequent lockdowns in pandemic-affected nations will decrease demand for new vehicles which will in turn hinder global autonomous driving sensor market outlook.
 

Based on product gamut, the industry is divided into camera, LiDAR, and radar. Among these, the camera segment is slated to expand significantly between 2021-2026 owing to its widespread adoption to detect objects, and for parking & lane tracking purposes. Furthermore, in cabin cameras are also used extensively for monitoring the driver and detecting gestures.
 

Meanwhile, the utilization of LiDAR sensors in road asset management will aid industry expansion as well. Notably, LiDAR sensors help in maintaining transportation infrastructure and delivering measurements of objects which are far from the survey vehicle. These features offered by LiDAR sensors will also stimulate market augmentation. 
 

As per vehicle type, the market sphere is fragmented into semi-autonomous vehicle, and fully autonomous vehicle. the report cites that semi-autonomous segment is predicted to expand significantly during the analysis timeframe. Enhanced fuel efficiency, reduced accidents, and engine productivity are some benefits of using semi-autonomous vehicles which will aid segmental expansion between 2021-2026.
 

Regionally speaking, North America captured majority of worldwide autonomous driving sensor industry share in the recent past due to rapid integration of high value sensing technologies such as LiDAR, RADAR, and imaging in automotive systems. Fast paced digitization in connected cars owing to easy integration of autonomous technologies will aid further expansion of the market sphere between 2021-2026.
 

Key players profiled in the report are STMicroelectronics N.V., Continental AG, Mitsubishi Electric Corporation, DENSO Corporation, Siemens AG, Allegro MicroSystems Inc., Robert Bosch GmbH, Valeo, NXP Semiconductors N.V., and Aptiv plc.