By Li Panpan

(JW Insights) Aug 3 -- The automotive camera and image sensor markets have seen substantial 22.8% and 35.3% YoY growth in revenues to reach $5.4 billion and $2.2 billion, respectively, in 2022. China's Omnivision ranked second with a market share of 26%, following Onsemi's 40%, said Yole Intelligence in a recent report.

The growth was attributed to the increased demand and higher prices driven respectively by the safety regulations and the chip shortage.

The camera modules and the CMOS image sensor markets for automotive applications should reach more than $9 billion and $3 billion, respectively, in 2028, with 9.7% and an 8.7% CAGR between 2022 and 2028, said the Yole Intelligence report.

Sony and Samsung ranked third and fourth last year with competitive pricing. In addition to these four primary players who are anticipated to have closer competition, Chinese companies such as Smartsens, BYD, and Galaxycore are increasing their investments and market shares in the automotive sector and are anticipated to have a stronger presence in the coming years, driven by the growth of the Chinese market.

Anas Chalak, an imaging technology & market analyst at Yole Intelligence, said, "The total camera market volume will grow from 218 million units in 2022 to 402 million units by 2028. Viewing cameras have the largest volume, with the 360°surround view system gaining traction."

Despite the challenges of chip shortages and the COVID-19 pandemic, the automotive imaging ecosystem remains under the influence of OEM and Tier 1 dynamics.

Valeo leads the ADAS camera market and Continental the viewing camera market. Hikvision has gained traction as a major competitor, while DJI has entered the market with stereo front cameras leveraging their drone expertise.

Sunny Optical dominates the lens set market with a 36% market share. Mobileye maintains a strong presence in the ADAS vision processor market with 52% and is expected to solidify its position.

"Although traditional Tier 1 players dominate the ADAS market, there are opportunities in the in-cabin segment, particularly in the Chinese market, where privacy concerns are less pronounced," affirms Anas Chalak.