Automotive Camera Market shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
For the purpose of this market researchreport, Automotive Camera is defined as a camera that helps drivers in parking, manoeuvring and assessing the vehicle performance. The applications of Automotive Camera include Lane Departure Warning Systems, Forward Collision Warning System and Blind Spot Warning. The Automotive Cameras coupled with advanced computer vision algorithms give rise to Advanced Driver Assistance Systems. As government regulations about driving and driving safety are ever increasing more manufacturers are embedding rear view cameras, surround view cameras, e-mirroring and driver monitoring systems into new cars. The Automotive cameras allow the availability of evidence in case of a car crash, prevents theft and increases driving safety.
Automotive Camera Market Growth and Trends
The covid-19 pandemic is now a great concern for the automotive market. The automotive camera market is expected to reach a massive growth CAGR of 12.4% between 2020-2025 but due to this pandemic, there has been a halt in vehicle production. This has equally brought the automotive market to a halt.
With 2020 already out of the budget, a significant growth of the automotive camera market is greatly anticipated in 2022. This is because the market will experience a sluggish revival in 2021 and demand for new technologies would be low.
The emergence of automotive camera technology is to reduce cases of road accidents by road users.This road safety measures put in place by government bodies in most developed and developing countries to regulate road users has been able to increase the demand for automotive camera based assistance.
Installment of these cameras into vehicles would require additional cost which will increase the overall cost of vehicles.
Although the cost of vehicles is not the problem, it would affect economic vehicles.
This cost factor has been a major restriction for equipment of vehicles with additional features.
The autonomous features would increase the safety measures in vehicles which would equally increase the number of automotive cameras required. This increase would create a huge market growth opportunity for automotive cameras. Governments of many countries are currently working towards the use of ADAS systems in vehicles which is likely a drive for the automotive camera market growth.
The increasing interest of the government in the rise of eco-friendly and lesser energy consumption vehicles is gradually pushing a rapid growth of the BEV automotive camera. This is largely because BEV has high luxury features such as pedestrian recognition and traffic sign interpretation.
The Asian Pacific is the fastest expanding market of the automotive camera. Adaptation of hybridization of vehicles, increased demand for passenger vehicles and production of electric vehicles have been a great contribution to the market boost of automotive cameras. The Asia Pacific is now the perfect market for automotive cameras with sales and production opportunities
Automotive Camera Market Regional Analysis
A surge in demand for driver assistance sensors and aftermarket sales of parking cameras is expected to drive the automotive camera market across the globe at a rapid pace. The Asia Pacific region is scaled to witness the fastest growth rate with geographies like China, India, Indonesia, and Thailand increasing their disposable income of customers in the region.
Europe is estimated to grow on an advanced phase in the market with a faster adoption rate among customers and multiple OEMs in the region introducing parking assist systems in small segment cars.
Also, North America is measured to boost its market growth swiftly attributed to the presence of lofty equipment manufacturers in the region. The Middle East and Africa will also spawn further owing to the adoption of sensing cameras that provide a high level of performance than general ones.
Automotive Camera Market Share and Competition
Key companies operating in this industry are: Bosch, ZF (TRW), Continental, Autoliv, Magna Electronics Holly, Mcnex, Panasonic, Aisin, Delphi, Valeo, Sekonix, SMK Electronics, Hella and AEi Boston.
Automotive Camera Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2020 - 2027)
• In-Vehicle Camera
• Side View Camera
• Rear View Camera
• AVMS Camera
• Driving Recorder
• Other
Application Analysis (Revenue, USD Million, 2020 - 2027)
• OEMs
• Aftermarket
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Automotive Camera Market Companies
• Bosch
• ZF (TRW)
• Continental
• Autoliv
• Magna Electronics Holly
• Mcnex
• Panasonic
• Aisin
• Delphi
• Valeo
• Sekonix
• SMK Electronics
• Hella
• AEi Boston
Available Versions:-
United States Automotive Camera Market Research Report
Europe Automotive Camera Market Research Report
