Automotive camera market Size
Product overview
Automotive camera market registered a growth of USD 6.4 bllion in 2021 and to surpass USD 14.8 billion by 2030 expected at a CAGR of 9.9% till 2030.
An automotive camera refers to an onboard camera that is installed on the front side, the rear side, or the inside of a vehicle for purpose of safety. They are designed to capture the highest video quality to enhance visibility for the passenger. They contain image sensors that are joined with electronic components inside of a vehicle. Cameras used in automotive are generally used for assisting the driver in parking the vehicle, assessing the vehicle’s performance, driving at the night time, and gathering evidence. The growing influence of new car assessment programs, increased demand for luxury vehicles all over the world, and demand for safety measures to increase its growth in the market.
Market Highlights
Automotive camera market is expected to project a CAGR of 11.2% during the forecast period, 2021-2030
New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera. The high demand for the product by passenger cars will also accelerate its growth. Higher per capita automotive spending in the sector also acts as a driving agent in the market. Additionally, a higher number of road casualties and government measures are also expected to stimulate market growth. Moreover, the growing security and safety concerns among individuals and New Car Assessment Programs around the globe are other factors that are fueling the market of the automotive camera market.
Automotive camera market: Segments
The adaptive cruise control system segment to grow with the highest CAGR of XX% during 2020-2030
By application, the market is segmented into Blind spot detection, park assist system, Driver monitoring system, Adaptive cruise control system, and others. The adaptive cruise control system helps in maintaining a safe distance between two vehicles and alerts the driver if the other vehicle comes too close. Additionally, if the driver is unable to apply breaks the cruise control system automatically slows down the vehicle. The growing awareness of consumers toward advanced safer technologies is likely to maintain the dominance of the segment.
The thermal camera segment to grow with the highest CAGR of XX% during 2020-2030
By technology, it can be classified into thermal cameras, digital cameras, and infrared cameras. Various features of thermal cameras such as their night vision system as well as their visibility in weather conditions such as snow, rain, and fog are expected to maintain a high CAGR during the forecast period.
The passenger segment to grow with the highest CAGR of XX% during 2020-2030
By type, it can be classified into passenger car and commercial vehicle segments. The passenger car segment dominated the market due to the high demand for passenger cars and the emergence of new auto manufacturers in the world.
Market Dynamics
Driver
Technological advancements and higher per-capita automotive spending to increase growth
New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera. The high demand for the product by passenger cars will also accelerate its growth. Higher per capita automotive spending in the sector also acts as a driving agent in the market. Additionally, a higher number of road casualties and government measures are also expected to stimulate market growth. Moreover, the growing security and safety concerns among individuals and New Car Assessment Programs around the globe are other factors that are fueling the market of the automotive camera market.
Restraint
High installation costs and rising vehicle prices hamper the market growth
High costs for the installation of automotive cameras as well as the rise in prices of vehicles act as restraining factors in the market. Additionally, the high cost incurred during the designing and testing of the camera is also likely to hamper the market.
Automotive camera market: Regions
North America is expected to dominate the regional segment due to the increase in the demand for luxury vehicles in the region. The rise in the installation of advanced driver assistance systems is also likely to increase growth. New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera in the region.
The automotive camera market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Automotive camera market:
Key players
- Continental
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Robert bosch
- Valeo
- Aptiv
- Magna international
- Stonham
- Autoliv
- Omni Vision
- Mobileye
- Other Prominent Players
The automotive camera market report also contains an analysis on:
Automotive camera market segments
- By application
- Blindspot detection
- Park assist system
- Driver monitoring system
- The adaptive cruise control system
- others
- By Technology
- Thermal camera
- Digital camera
- Infrared camera
- By type
- Passenger vehicles
- Commercial vehicles
- Automotive camera market Dynamics
- Automotive camera market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Frequently Asked Questions (FAQ):
The Military Automotive camera market size was estimated at USD 6.4 bllion in 2021 and is expected to reach USD 14.8 billion by 2030
Continental, Robert bosch, Valeo, Aptiv, Magna international, Stonkam, Autoliv, OmniVision, Mobileye, and other prominent players
The adaptive cruise control system segment and The thermal camera segment are anticipated to hold the Military Automotive camera market
Technological advancements and higher per-capita automotive spending to increase growth
An automotive camera refers to an onboard camera that is installed on the front side, the rear side, or the inside of a vehicle for purpose of safety. They are designed to capture the highest video quality to enhance visibility for the passenger.
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