The global automotive camera market is forecasted to register a CAGR of 19.69% in terms of volume and 14.82% in terms of revenue over the projected years. The market growth is attributed to key factors such as regulations mandating the use of automotive cameras, the increased adoption of autonomous vehicles, and the surge in road accidents.
Automotive cameras are predominantly used to assist drivers while parking, in addition to analyzing the performance of vehicles, gathering critical evidence, and for night vision.
Autonomous and semi-autonomous vehicles have observed a large-scale adoption over the last three years. Besides, it is also estimated to occupy a significant proportion of the automotive market in the future. The mainstream acceptance of autonomous vehicles is enhanced through the implementation of a platform based on artificial intelligence (AI), thereby improving the system’s safety and performance characters. As a result, quicker implementation of autonomous driving will be anticipated. Furthermore, it is also possible for drivers to completely utilize autonomous vehicles to perform numerous other tasks and thus, increase comfort for drivers.
The global automotive camera market growth assessment includes the study of the Asia-Pacific, Europe, North America, and the Rest of World. North America is set to harbor the highest market share during the forecast period. Due to the increased competition among automotive players, the efforts undertaken by federal bodies to enhance road safety standards, increase manufacturing activities, and improve the economy across the United States and Canada are anticipated to fuel the autonomous vehicle market in North America. These factors are anticipated to encourage the sales of components constituting driving systems, including automotive cameras.
A large number of firms continue to expand their presence across different countries, resulting in intense competition within the global automotive camera market. As a result, the levels of market penetration have increased globally, as well. The advertising expense is also on the higher side, as numerous players attempt to produce more products and promote them on a large scale, thereby intensifying the industrial rivalry.
Some of the leading companies operating in the market are Denso, Robert Bosch GmbH, Continental AG, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments