According to a recent report published by Allied Market Research, titled, Global Automotive Camera Market by Application, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global automotive camera market was valued at $11,401.6 million in 2017, and is projected to reach $24,092.1 million by 2025, growing at a CAGR of 9.70% from 2018 to 2025.
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Presently, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and Germany led the overall market in Europe. However, in the Asia-Pacific region, China currently dominates the market.
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Rise in demand for passenger vehicles coupled with safety & security concerns among consumers and increase in number of road fatalities drive the growth of the global automotive camera market considerably. In addition, rise in trend of installing advanced driver assistance system (ADAS) and legislations mandating installation of cameras in vehicles are anticipated to provide potential growth opportunities for the market. However, high installation cost of the cameras is one of the major restraints of the market.
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Key Findings of the Automotive Camera Market :
- On the basis of application, the adaptive cruise control system segment led the global automotive camera market in the year 2017.
- The North America region held the majority of market share in 2017.
- By vehicle type, the passenger car segment has been dominating the global automotive camera market in the year 2017. However, the heavy commercial vehicle segment is expected to grow at the highest CAGR during the forecast period (2018-2025).
- The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
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Key Benefits of Automotive Camera Market:
- This study comprises an analytical depiction of the global automotive camera market size with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
- The current market is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency.
- Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
- The report includes the market share of key vendors and automotive camera market trends.
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