The global automotive camera market size was valued at $6.56 billion in 2020, and is projected to reach $13.81 billion by 2026, growing at a CAGR of 13.2% during the forecast period.
• Increase in the sales of electric vehicles, consumer demand for safer vehicles, and increasing development for autonomous systems are the factors that are helping to boost the automotive camera market growth.
• Additionally, road accidents cause considerable economic losses to individuals, their families, and to nations as a whole. Such losses arise from the cost of treatment as well as lost productivity for people killed or disabled by their injuries, and for the rest of family members, which in turn fuel the demand for automotive cameras, thereby supplementing the market growth.
• However, high initial installation cost of automotive cameras in automobiles and rising prices of vehicles along with the high cost incurred during designing and testing of these cameras may hamper the growth of said market in future.
The automotive camera is the rear-view system which enables the reversing easier by monitoring the real-time image of the surrounding environment and recommending the steering angle for the wheel turn. It provides the ease of vehicle parking. It is intentionally designed to capture the highest quality of images and videos to enhance driver safety. The automotive camera integrated with advanced technology such as computer vision algorithms, which in response can draw out the important data which can be useful for driver assistance. It widely finds its application in advanced driver assistance systems (ADAS). Furthermore, automotive cameras give better driving experience and enhance the rear and front view of the driver.
By Vehicle Type and Class, the Passenger Vehicles Segment is Expected to have a Huge Demand
The passenger vehicles segment made huge revenue and growing its prominence during the forecast period. The passenger vehicles segment is expected to dominate the automotive camera market during the forecast period. Increasing adoption of ADAS features in the mid and economy segment passenger cars is likely to boost the growth of this segment. Currently, it is also the largest market for ADAS owing to the growing demand for safer and more comfortable vehicles. Governments in developed and developing nations are planning to mandate the ADAS system in passenger cars. For instance, the EU has extended the scope of mandating the ADAS system as AEB and LDW systems in passenger cars. These mandates are likely to drive the automotive camera market for passenger cars. The increasing demand for luxury vehicles in developing countries is another driving factor for the growth of the automotive camera market.
By Geography, Asia Pacific Region to Grow at a Highest CAGR
The Asia Pacific region is expected to be the fastest-growing market during the forecast period. Vehicle hybridization and electrification, increasing production of electric vehicles, and increasing sales of passenger vehicles are the key factors driving the automotive camera market in the Asia Pacific region. Several original equipment manufacturers have shifted their automobile manufacturing plants to countries because of the high-growth opportunities. Rising population and government policies promoting industrial growth have made the Asia Pacific region a perfect destination for automobile manufacturers to set up their facilities. These factors have helped make Asia Pacific the largest automotive market with increasing sales and production. The implementation of new technologies, the establishment of additional manufacturing plants, and the creation of value-added supply chains between OEMs and component manufacturers have created a platform for future growth in this region.
List of the Key Players Profiled in the Market Include:
• Aptiv PLC
• Autoliv Inc
• Automation Engineering Inc.
• Clarion
• Continental AG
• Denso
• Ficosa
• Magna International
• Mobileye N.V.
• OmniVision Technologies
• Robert Bosch
• Stonkam Co., Ltd.
• Valeo
• ZF Friedrichshafen
What Can be Explored with this Research Report:
• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.
Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:
Market by, Vehicle Type and Class:
• Commercial Vehicle
• Passenger Vehicles
Market by, View Type:
• Single View System
• Multi Camera System
Market by, Application:
• Adaptive Cruise Control
• Advanced Driver Assistance Systems (ADAS)
• Intelligent Headlight Control
• Lane Departure Warning System
• Lane Keep Assist
• Park Assist System
• Road Sign Assistance
• Other Applications
Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
Table Of Content
1 Market Overview
1.1 Introduction
1.2 Research Objectives
1.3 Market Segmentation
1.4 Stakeholders
1.5 List of Acronyms
2 Executive Summary
3 Research Methodology
3.1 Identification of Data
3.2 Evaluation of Market Dynamics
3.3 Collaboration of Data
3.4 Verification and Analysis
3.5 Data Sources
3.6 Assumptions
4 Market Dynamics
4.1 Market Drivers
4.1.1 Increase in the Sales of Electric Vehicles
4.1.2 Growing Consumer Demand for Safer Vehicles
4.1.3 Implementation of Stringent Road Safety Regulations by the Government
4.1.4 Increasing Adoption of Technologically Advanced Product
4.2 Market Restraints
4.2.1 High Installation Cost of the Cameras
4.3 Market Opportunities
4.3.1 Increasing Development for Autonomous Systems
4.4 Market Challenges
4.4.1 Constraints in real-time image processing in surround view systems
4.5 Impact of COVID-19 on Automotive Camera Market
5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market
6 Global Automotive Camera Market by, Vehicle Type and Class
6.1 Overview
6.2 Commercial Vehicle
6.2.1 Light Commercial Vehicle
6.2.2 Heavy Commercial Vehicle
6.3 Passenger Vehicles
6.3.1 Economy Vehicle
6.3.2 Luxury Vehicle
6.3.3 Mid-Priced Vehicle
7 Global Automotive Camera Market by, Technology
7.1 Overview
7.2 Digital Camera
7.3 Infrared Camera
7.4 Thermal Camera
8 Global Automotive Camera Market by, View Type
8.1 Overview
8.2 Single View System
8.3 Multi Camera System
9 Global Automotive Camera Market by, Application
9.1 Overview
9.2 Adaptive Cruise Control
9.3 Advanced Driver Assistance Systems (ADAS)
9.4 Intelligent Headlight Control
9.5 Lane Departure Warning System
9.6 Lane Keep Assist
9.7 Park Assist System
9.8 Road Sign Assistance
9.9 Other Applications
10 Global Automotive Camera Market by, Geography
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 South America
10.6 Middle East & Africa
11 Key Developments
12 Company Profiling
12.1 Aptiv PLC
12.1.1 Business Overview
12.1.2 Product/Service Offering
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Activities
12.2 Autoliv Inc
12.3 Automation Engineering Inc.
12.4 Clarion
12.5 Continental AG
12.6 Denso
12.7 Ficosa
12.8 Magna International
12.9 Mobileye N.V.
12.10 OmniVision Technologies
12.11 Robert Bosch
12.12 Stonkam Co., Ltd.
12.13 Valeo
12.14 ZF Friedrichshafen
Report Details
SKU Code | : DI2063 |
Industry | : Automotive & Transportation |
Region | : Global |
Tables | : 180 |
Format | : Electronic PDF |
Published | : 2023 |
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