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, registering a CAGR of 9.70% from 2018 to 2025. The automotive camera is an onboard camera, which is designed to capture the highest quality video to extend visibility for enhancing the safety of the driver. These cameras are majorly used to assist the driver for parking, to assess vehicle performance, for night vision, and to gather critical evidence. Furthermore, they are embedded with advanced computer vision algorithms, which extract meaningful data from the captured images to assist the driver for various purposes, and play a crucial role in advanced driver assistance systems (ADAS).
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The automotive camera market is expected to grow at a significant rate, due to an increase in sales of automobiles and advancement of sensors used in cameras. Furthermore, rise in number of road fatalities is expected to stimulate the growth of the market. In addition, social factors such as a surge in awareness of road safety by the people and implementation of stringent road safety regulations by the government are anticipated to fuel the market growth
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The automotive cameras market is segmented on the basis of application, technology, vehicle type, and region. By application, the market is categorized into park assist system, lane departure warning system, adaptive cruise control system, driver monitoring system, autonomous emergency braking system, blind spot detection, and others. Based on technology, it is classified into infrared camera, thermal camera, and digital camera. Depending on vehicle type, it is segregated into passenger cars, light commercial vehicles, and heavy commercial vehicles.
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Top Impacting Factors
The significant factors that impact the growth of the global automotive camera industry include a rise in demand for passenger vehicles coupled with safety & security concerns among consumers, increase in number of road fatalities, high installation cost, growth in trend of installing advanced driver assistance system (ADAS), and legislations mandating installation of cameras in vehicles. Each of these factors is anticipated to have a definite impact on the automotive camera market 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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