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“Government initiatives related to vehicle safety features in economically-advanced countries and increasing consumer demand for active safety systems to fuel the demand for the automotive camera market”
The global automotive camera market is estimated to grow at a CAGR of 10.62% during the forecast period, from USD 7.5 billion in 2018 to USD 15.1 billion by 2025. An increasing number of consumers now make a purchase decision based on the availability of advanced safety functions and technologies in a vehicle. The rising demand for premium vehicles equipped with advanced driver assistance systems (ADAS) is also driving the growth of the automotive camera market. Moreover, technological advancements such as autonomous vehicles and truck-platooning are expected to create opportunities for the automotive camera market in the coming years. However, the high cost of multi camera systems can restrain the growth of the automotive camera market. Constraints in real-time image processing in surround view systems can also pose challenges for the automotive camera market.
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“ADAS segment to grow at a significant rate during the forecast period.”
ADAS is estimated to be the fastest growing segment, by value, of the automotive camera market from 2018 to 2025. The growth of this segment can be attributed to the increasing trend of integrating additional safety features in vehicles. The automotive camera system helps in the functioning of ADAS features such as object detection, blind spot detection, and traffic sign recognition. Thus, the growth of the ADAS function is likely to fuel the multi camera system market.
“The passenger car segment is estimated to be the largest market, in terms of value, in the automotive camera market.”
The passenger vehicle segment is estimated to hold the largest market share. The rising demand for ADAS features in passenger cars and the advent of semi-autonomous and autonomous vehicles are expected to drive the market growth in this segment. Increasing safety concerns have compelled OEMs to provide ADAS features, which in turn is boosting the demand for semi-autonomous vehicles. Moreover, camera-based ADAS features help to meet the elevated safety standards.
“Asia Pacific is estimated to be the fastest growing market for automotive camera during the forecast period.”
The Asia Pacific automotive camera market is estimated to grow at the highest CAGR during the forecast period. Developing countries such as India and China have witnessed increased consumer demand for an active safety system in vehicles. The promotion of ADAS functions by OEMs is also driving the market for vehicle safety features. The increasing adoption of these features in mid-priced and economy segment passenger cars is expected to fuel the growth of the automotive camera market in the Asia Pacific region. Moreover, 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.
The study contains insights from various industry experts, ranging from component suppliers to tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type: Tier 1: 46%, Tier 2: 27%, OEM: 27%
- By Designation: C level: 46%, D level: 36%, Others: 18%
- By Region: North America: 18%, Europe: 27%, Asia Pacific: 55%
Major players profiled in the report are:
- Robert Bosch (Germany)
- Continental (Germany)
- Aptiv (Ireland)
- Valeo (France)
- Magna (Canada)
- Autoliv (Sweden)
- Ficosa (Spain)
- Intel (Mobileye) (US)
- Clarion (Japan)
- Denso (Japan)
- The report segments the automotive camera market, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and the Rest of the World), application (Park Assist and ADAS), technology (Thermal Camera, Infrared Camera, Digital Camera), view type (Single view system and Multi camera system), vehicle type and class (Passenger Car and Commercial Vehicle), and electric vehicle type (BEVS and HEVs).
- This report contains various levels of industry analysis and company profiles, which highlight emerging and high-growth segments of this market, competitive mapping, and market dynamics (drivers, restraints, opportunities, & challenges).
The report contains various levels of analysis, including industry analysis, industry trends, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the automotive camera market, high-growth regions and countries, government initiatives, and market dynamics such as drivers, restraints, opportunities, and challenges.
Reasons To Buy the Report:
The report enables new entrants and smaller firms as well as established firms to understand the market better to help them acquire a larger market share. Firms purchasing the report could use any one or a combination of the 4 strategies (market development, product development/innovation, market diversification, and competitive assessment) mentioned below to strengthen their position in the market.
The report provides insights into the following points:
- Market Penetration: The report offers comprehensive information about the automotive camera market and the top players in the market.
- Product Development/Innovation: The report provides detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive camera market.
- Market Development: The report offers comprehensive information about the automotive camera market. The report analyzes the automotive camera market across regions and provides comprehensive information about lucrative emerging markets.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive camera market.