1. An image sensing system for a vehicle, said image sensing system comprising: an imaging sensor comprising a two-dimensional CMOS array of light sensing photosensor elements; wherein said imaging sensor has a forward field of view to the exterior of a windshield of a vehicle equipped with said image sensing system; wherein said imaging sensor views through the windshield of the equipped vehicle at a region of the windshield that is swept by a windshield wiper of the equipped vehicle; wherein said imaging sensor is operable to capture image data; wherein said imaging sensor is operable to capture frames of image data at a plurality of exposure periods; a control comprising an image processor; wherein said image sensing system identifies objects in said forward field of view of said imaging sensor via processing of said captured image data by said image processor; wherein identification of objects is based at least in part on at least one of (i) shape, (ii) luminance, (iii) geometry, (iv) spatial location, (v) motion and (vi) spectral characteristic; and wherein objects identified by said image sensing system comprise at least one of (i) headlights of approaching vehicles, (ii) taillights of leading vehicles, (iii) lane markers on a road being traveled by the equipped vehicle, (iv) traffic signs, (v) traffic lights, (vi) stop signs and (vii) caution signs.