Global Automotive Camera Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Automotive Camera Market Report has been segmented as per vehicle type, technology type, application, and region.
Automotive Camera Market: Overview
The Automotive Camera Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
The automotive camera is used in commercial and passenger vehicles for performing several operations such as night vision, cruise control, parking, and others.
The different types of camera technologies are used in various vehicles, for example, obstacle detection systems and blind-spot monitoring systems in the vehicles.
Automotive Camera Market: Dynamics
Rising penetration of advanced safety systems and camera-based advanced driver-assistance systems (ADAS) in the automotive sector across the globe are major factors projected to drive the growth of the global market during the forecast period.
In addition, the growing automobile sector along with technological advancement in automobile cameras and increasing penetration of automotive cameras in passenger vehicles across the globe are key factors projected to support the growth of the target market over the forecast period.
Growing security and safety concerns among individuals while driving a vehicle and stringent government regulations on road safety in emerging countries are other major factors fueling the growth of the global market.
In addition, the growing demand for luxury vehicles among individuals in developing countries and the rising influence of “New Car Assessment Programs” among individuals around the globe are other key factors expected to boost the growth of the global market over the forecast period.
Furthermore, growing technological advancements in various type of automotive cameras such as infrared camera and thermal camera is a major factor expected to proliferate the growth of the target market.
Also, the rising demand for advanced sensing cameras among vehicle owners due to increasing traffic and road accidents in various countries is expected to propel the growth of the global market.
However, the high installation and maintenance costs of automotive cameras are some factors expected to hamper the growth of the global market to a certain extent.
Automotive Camera Market: Segment Analysis
Among vehicle types, the passenger vehicle segment is expected to register significant growth in the global automotive camera market, owing to the rising adoption of automotive cameras in passenger vehicles across the globe.
Increasing awareness about various features of thermal camera which is mainly used in a night vision system and in adverse weather conditions such as fog, snow, and rain to reduce road accidents is a primary factor driving revenue growth of the thermal camera segment among technology type segment.
Automotive Camera Market: Region Analysis
The market in North America is projected to dominate the global market followed by the market in Europe and is expected to continue its dominance over the next 10 years.
High awareness about road safety measures among individuals, a high rate of advanced driver assistance systems installation, and high demand for luxury vehicles in Canada, the US, Germany, and France are factors supporting the growth of the target market in these regions.
The automotive camera market in the Asia Pacific region is projected to register significant growth in the global market over the forecast period, owing to the rising penetration of automotive camera passenger vehicles and increasing awareness about advanced safety features among individuals in countries in the region.
Market in Middle East & Africa and Latin America are expected to witness average growth in terms of revenue, owing to rising awareness about driver-assistance system among individuals in these regions.
Automotive Camera Market Segmentation:
Segmentation by vehicle type:
- LCV (Light Commercial Vehicle)
- HCV (Heavy Commercial Vehicle)
- PV (Passenger Vehicle)
Segmentation by technology type:
- Thermal Camera
- Infrared Camera
- Digital Camera
Segmentation by application:
- Driver Monitoring System
- Park Assist System
- Night Vision System
- Blind Spot Detection
- Others (Adaptive Cruise Control System, Autonomous Emergency Braking System, and Lane Departure Warning System)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Robert Bosch GmbH
- Aptiv PLC
- Valeo SA
- Continental AG
- Magna International Inc.
- Ficosa International, S.A.
- Autoliv, Inc.
- Intel Corporation
- Ficosa International SA
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