Global Automotive Camera Market expected to record a CAGR of ~12% during the forecast period (2017-2028): Ken Research
Global Automotive Camera Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD 20 Bn by 2028.
The Automotive Camera Market is largely driven by the growing consumer demand for active safety systems coupled with increased penetration of camera-based convenience features in passenger cars and commercial vehicles.
The stringent government initiatives to install safety technology in cars and other vehicles to enhance the safety of drivers coupled with increasing penetration of safety systems in vehicles is likely to propel the growth of the global automotive camera market.
The global automotive camera market faces challenges due to the high installation cost of the automotive camera.
The rising incidence of malfunctioning camera components such as modules, sensors, and other components along with the high cost to fix the damages is also expected to restrict the growth of the market.
The COVID-19 pandemic negatively impacted the automotive camera market due to the suspension of the production of vehicles and decreased demand for vehicles. Additionally, a halt in the automotive industry due to disruption in supply also slowed down the growth of the market during the pandemic. However, the market started gaining momentum owing to different mandates by different countries.
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Global Automotive Camera Market By Vehicle Type
The Global Automotive Camera market is segmented by Vehicle type into Passenger Vehicles and Commercial Vehicles.
The passenger vehicles segment held the largest share of the global automotive camera market by vehicle type in 2022, owing to the rising incidence of car accidents along with the increasing requirement for an active safety system.
The increasing demand for camera-based convenience features, especially in luxury vehicles is expected to fuel the demand for the segment in the global automotive camera market.
Global Automotive Camera Market By Application
The Global Automotive Camera market is segmented by Application into Park Assist, ADAS and Others.
The ADAS segment accounted for the largest share of the global automotive camera market in 2022, attributed to the surge in the installation of ADAS in passenger cars and commercial vehicles.
Growing demand for ADAS systems in vehicles to improve their safety as it offers key driving assistance functions such as controlling speed, maintaining a safe speed, and other functions, is anticipated to aid the growth of the segment in the global automotive camera market.
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Global Automotive Camera Market By Technology
The Global Automotive Camera market is segmented by Technology into Infrared Camera, Thermal Camera and Digital Cameras.
Infrared camera segment accounted for the largest share of the global automotive camera market in 2022, due to the growing demand for cameras that operate in low-light conditions in vehicles.
Infrared cameras can detect invisible heat radiation emitted by objects regardless of lighting conditions which can offer an added advantage to the drivers and can ensure their safety, which is anticipated to aid the growth of the segment in the global automotive camera market.
Global Automotive Camera Market By Geography
The Global Automotive Camera market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
North America region accounted for the largest share of the global automotive camera market in 2022, due to the rising demand for luxury vehicles among consumers.
The increasing installation of advanced driver-assistance systems (ADAS) to enhance the safety of drivers coupled with the increasing number of manufacturers providing value-added service in the region, is expected to augment the growth of the region in the automotive camera market.
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Key Topics Covered in the Report
- Snapshot of the Global Automotive Camera Market
- Industry Value Chain and Ecosystem Analysis of the Automotive Camera Market
- Market size and Segmentation of the Global Automotive Camera Market
- Historic Growth of the Overall Global Automotive Camera Market and Segments
- Competition Scenario of the Automotive Camera Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Automotive Camera Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Automotive Camera Market
- Future Market Forecast and Growth Rates of the Global Automotive Camera Market and by Segments
- Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
- Analysis of the Automotive Camera Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Automotive Camera Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Companies Mentioned in the Report
- Garmin Ltd.
- Panasonic Holdings Corporation
- Continental AG
- Autoliv
- Robert Bosch GmbH
- Magna International Inc.
- OMNIVISION
- ZF Friedrichshafen AG
- Aptiv
- STONKAM CO., LTD.
Notable Emerging Companies Mentioned in the Report
- Mobileye N.V.
- Valeo
- Canon
- Zebronics
- Renesas
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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