Automotive Camera Market Trends

Automotive Camera Market Overview

The Automotive Camera Market Size is expected to reach USD 21821.03 Million by the end of the Automotive Camera Industry Analysis, registering a CAGR of 19.47% during the forecast period. The market was valued at USD 21821.03 Million during the historic Automotive Camera Market Analysis. The Automotive Camera is an onboard camera that is designed to record the highest quality video to increase visibility and improve the driver's safety. These cameras are primarily used to aid drivers with parking, evaluating vehicle performance, providing night vision, and gathering vital evidence. Furthermore, complex computer vision algorithms are built into them, which extract useful data from taken photos to help the driver for a variety of objectives, and they play a critical part in advanced driver assistance systems (ADAS). 

Due to an increase in automobile sales and advancements in camera sensors, the Automotive Camera Market Share is likely to grow at a significant rate. Furthermore, an increase in the number of road fatalities is expected to boost the Automotive Camera Market Growth. Furthermore, sociological factors such as a rise in public awareness of road safety and the government's execution of severe road safety rules are expected to drive Automotive Camera Market Trends expansion. For safety purposes, an automotive camera is a camera mounted on the front, rear, or inside of a car. Image sensors in camera modules are linked to electronic components in cars.

Market Dynamics

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  Drivers

  
  

Because of the rising incidence of road accidents around the world, demand for safety features such as parking assistance, collision avoidance, lane departure warning (LDW), traction control, electronic stability control, tire pressure monitoring, airbags, and telematics is increasing. Advanced driver assistance systems (ADAS) use integrated radar and camera systems to detect and classify objects on the road and advise drivers accordingly. In the event of a collision, these systems can also automatically decelerate or stop the car. In recent years, there has been a considerable increase in the number of people killed in car accidents. According to the WHO's 2020 reports, about 1.35 million people die each year in road accidents around the world. The Automotive Camera Market Share and Automotive Camera Market Size are increasing as a result. Furthermore, traffic accidents claim the lives of more teenagers than any other age group. As a result, the expansion of the automotive camera and integrated radar and camera market is fueled by the demand for safety features. The market's growth is being fueled by the expanding influence of the New Car Assessment Program (NCAP), rising demand for premium automobiles, and increased demand for safety features.

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  Restraints

  
  

The expensive cost of installing safety systems in automobiles is likely to stifle Automotive Camera Market Growth and Automotive Camera Market Trends in the automotive camera and integrated radar and camera industry, as it raises vehicle costs. Including premium capabilities in vehicles comes at a cost to consumers in the form of hardware, apps, and telecom service fees, slowing the growth of the automotive camera and integrated radar and camera market. Furthermore, due to the presence of various electrical components and sensors, servicing such cars is a difficult procedure that necessitates the use of professional workers. Furthermore, the expensive cost of the systems has slowed market expansion marginally. ADAS, such as adaptive cruise control (ACC), forward collision warning system (FCWS), and automatic emergency braking (AEB), necessitate the installation of 3 to 6 cameras and numerous sensors on the vehicle. As a result, the market's expansion is projected to be hampered by high beginning costs and a complex structure.

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  Technology Analysis

  
  

Vehicles equipped with electric, hybrid, and solar energy systems are beginning to supplant internal combustion engines and fuel-fed engines as a result of technological improvements. The advancement of autonomous technologies and advancements in ADAS systems have begun to boost user engagement while reducing the necessity for direct control of the vehicle. This has primarily been made possible by the development of onboard navigation systems. Manufacturers are shifting their focus away from hardware and toward complicated software, such as ADAS, in the development of mobility technologies. Vehicle makers are seeking to bring more innovations while improving the safety of cars and occupants as the role of software grows. As a result, the growing number of technological advancements and improvements in ADAS is opening up a plethora of prospects for the automotive camera and integrated radar and camera markets.

Segment Overview

The Automotive Camera Market Report has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period. The market segments are as follows:

Based on the Camera Type, the market has been segmented as follows:

• Digital camera


• Thermal camera


• Infrared camera

Based on the Vehicle Type, the market has been segmented as follows:

• Passengers car


• Commercial vehicles

Based on the Application Type, the market has been segmented as follows:

• Lane Departure Warning


• Adaptive Cruise Control


• Blind Spot Detection


• Park Assist System


• Night Vision


• Pedestrian Detection


• Road Sign Recognition


• Driver Monitoring

Based on the Region, the market has been segmented as follows:

• North America


• Europe


• Asia Pacific


• Rest of the World (RoW)

Regional Classification

Because of its high-speed connectivity, North America is expected to dominate the industry. Europe is another important market for products, and the installation of safety technology in passenger cars in Germany, the United Kingdom, France, and Italy are expected to rise dramatically. In light of fast industrialization and rising automobile manufacturing, Asia Pacific will see significant growth, particularly in China, India, Japan, Thailand, Malaysia, and South Korea. Furthermore, increased disposable income and a good standard of living among customers would drive the Automotive Camera Market Revenue forward.

Competitive Landscape

Due to the presence of numerous regional companies, the automobile camera industry is highly fragmented. Several large corporations have amassed significant market share. To increase their market share and profitability, these companies are focused on strategic collaboration efforts. The major key players in the market are as follows:

• ADA-ES Inc. (U.S.)


• Allied Vision Technologies (Germany)


• Ballif (Germany)


• Basler AG (Germany)


• Autoliv, Inc (Sweden)


• Delhi Automotive PLC (U.K.)


• Denso Corporation (Japan)


• Robert Bosch GmBH (Germany)


• Valeo S.A. (France)


• TRW Automotive (U.S.)

Recent Developments

• Aptiv PLC and Hyundai Motor Co., a South Korean automaker, have formed a joint venture to develop autonomous vehicles for the commercialization of level 4 and level 5 self-driving technology. The joint venture deal may allow the corporation to enhance its capabilities in South Korea's autonomous car sector.


• For applications such as advanced driver assistance systems (ADAS) and autonomous driving, Bosch developed the MPC3 mono video camera. More efficient recognition is needed the new camera employs a multi-path method and artificial intelligence (AI).