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 MarketStudyReport, global autonomous driving sensor market generated USD 7349.55 million in 2020 and is slated to observe substantial expansion during 2021-2026.

Supportive government policies on energy conservation, rising consumer awareness about product quality, and strict regulatory standards for environment protection are factors contributing to expansion of global autonomous driving sensor industry.

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For those unaware, cameras are commonly employed as sensors in vehicles and are primarily used to identify obstacles on the road, such as other vehicles and roadside structures, as well as for lane monitoring and parking. Furthermore, inside (in-cabin) cameras are emerging for a variety of applications such as gesture detection and driver surveillance.

Besides this, robust industrialization in developing nations, in tandem with soaring demand for clean energy fuel vehicles is bolstering the growth of business sphere.

Moreover, the development of recent technologies has shown a significant reduction in maintenance costs which is prompting multiple buyers for premium vehicles from many different industrial backgrounds, thus amplifying the scope of worldwide autonomous driving sensor market.

During the COVID-19 pandemic, the delay in supply chain activities given the temporary shutdowns severely hampered the vehicle production. The demand for vehicles also observed a decline due to the lockdowns in effect in many countries, thus restraining the industry scope.

Based on product type, the industry is categorized into LiDAR, camera, and radar. In terms of vehicle type, the market is divided into fully autonomous vehicles, and semi-autonomous vehicles.

From geographical standpoint, Americas market is poised to record notable growth during the assessment timeframe, owing to swift digitization, emergence of connected cars, vehicle-to-infrastructure connectivity, and easy integration of new technologies in traditional models.

The established names augmenting the competitive sphere of global autonomous driving sensor market include STMicroelectronics, Inc., Continental AG, NXP Semiconductor N.V., Mitsubishi Electric Corporation, Denso Corporation, Siemens AG, Allegro Microsystems, Inc., Valeo S.A., Robert Bosch GmbH, and Aptiv plc among others.