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Some key factors that are anticipated to continue to propel the expansion of the electric vehicle camera market’s revenue include rising demand for electric vehicles and a growing desire for simple and convenient transportation. The global market’s projected revenue growth would be significantly aided by an increase in traffic accidents.
Electric cars are autonomic vehicles that can sense their surroundings and operate without human intervention. They do this by utilizing a variety of in-vehicle technology, cameras, and sensors. Demand for autonomous cars is growing as a result of an increase in traffic congestion and traffic accidents.
The Japan EV Camera market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2026, registering a CAGR of XX% from 2022 to 2027.
In the so-called “Apple Car Project,” which Apple is pushing, LG Innotek, a unit of the LG Group that specializes in electrical components, has been given new life as a significant partner in the field of autonomous driving technology.
It is anticipated that LG Innotek would leverage its collaboration with Apple as a springboard to develop its car electronics industry. Four different types of electrical components were ordered by Apple from LG Innotek for use in Apple vehicles.
Only two of the four pieces were produced by LG Innotek’s Apple Car TF. LiDar-related components, which LG Innotek has not yet made available as a product, and the camera module, which has a history of supply, are probable.
They are all essential components for the development of autonomous driving technology. The supply of camera modules will be the initial area of attention for TF. The “Time of Flight (ToF) module” and “V2X system,” which employ augmented reality (AR) as a time-of-flight distance measuring technology, are the remaining items.
