As per MRFR analysis, the automotive split view camera module market Size was estimated at 26.84 (USD Billion) in 2022. The automotive split view camera module market is expected to grow from 29.56 (USD Billion) in 2023 to 70.4 (USD Billion) by 2032. The automotive split view camera module market CAGR (growth rate) is expected to be around 10.12% during the forecast period (2024 - 2032).
Key Automotive Split View Camera Module Market Trends Highlighted
The automotive split-view camera module market is experiencing several key trends, including:
Technological advancements, such as improved image quality and wider fields of view, are driving demand for split-view camera modules, enhancing driver visibility and safety.
Government regulations mandating advanced safety features in vehicles are also fostering market growth.
As autonomous driving technologies evolve, split-view camera modules become crucial for providing a comprehensive view of the vehicle's surroundings.
The integration of artificial intelligence and machine learning algorithms enables more accurate object detection and classification, enhancing the performance of split-view camera modules.
The adoption of high-resolution cameras, multi-lens systems, and panoramic views is gaining prominence, offering a more immersive and realistic view for drivers.
Additionally, the integration of split-view camera modules with other advanced driver-assistance systems, such as lane departure warning and adaptive cruise control, is becoming increasingly common, further boosting the market's growth.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Split View Camera Module Market Drivers
Increasing Demand for Advanced Driver Assistance Systems (ADAS)
The growing demand for advanced driver assistance systems (ADAS) is a major factor driving the growth of the global automotive split-view camera module market.
ADAS features such as lane departure warning, blind spot detection, and automatic emergency braking rely on split-view camera modules to provide a wider field of view and enhanced situational awareness.
As vehicles become more autonomous, the need for reliable and high-quality split-view camera modules will continue to increase.
Rising Popularity of Electric Vehicles
Another factor that contributes to the development of the market is the growing popularity of electric vehicles. Since electric vehicles usually have different design and packaging features in comparison with traditional gasoline-powered vehicles, it creates new challenges for camera placement and field of view.
Thereby, split view camera modules help to address these challenges as they are easy to integrate and provide necessary visibility for safe driving.
Government Regulations and Safety Standards
Government Regulations Safety Standards: These factors are also providing expedited growth to the Automotive Split View Camera Module Market.
There are many countries’ governments now, mandating or encouraging the incorporation of the ADAS features into new vehicles to increase their demand for split view cameras.
Also, the safety organizations such as NHTSA are promoting the use of split-view camera modules to reduce the accidents on the road.
Automotive Split View Camera Module Market Segment Insights:
Automotive Split View Camera Module Market Lens Type Insights
The Automotive Split View Camera Module Market is segmented by lens type as Single Lens and Dual Lens. Single Lens segment held the largest market share in 2023, accounting for over 60% of the global market.
The segment is anticipated to continue dominating the market over the forecast period, owning to its lower cost and simpler design than dual lens modules. However, Dual Lens segment is expected to grow at a faster CAGR over the forecast period, owning to its superior image quality and wider field of view. The segment is anticipated to account for over 30% of the global market by 2032.
Growth of the market is driven by the rising demand for advanced driver assistance systems and higher adoption of autonomous vehicles. Split view camera modules have a wider field of view and better visibility for drivers enabling them to ensure safety by avoiding accidents with the increase in the number of vehicle ownership.
The market is also anticipated to benefit from the rise in demand for electric vehicles, which require a greater number of cameras and sensors for handling.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Split View Camera Module Market Resolution Insights
The resolution segment is a key factor in the global automotive split-view camera module market. In 2023, the HD (720p) resolution segment held the largest market share, accounting for over 50% of the global market.
However, the Full HD (1080p) resolution segment is expected to grow at a faster rate during the forecast period, reaching a market share of over 60% by 2032. The Ultra HD (4K) resolution segment is still in its early stages of development, but it is expected to gain traction in the coming years as the technology matures.
The increasing demand for higher-resolution cameras is being driven by the need for better image quality and clarity.
HD (720p) resolution provides a good level of detail, but Full HD (1080p) resolution offers even sharper images with more detail. Ultra HD (4K) resolution provides the highest level of detail and is ideal for applications where the highest possible image quality is required.
The growth of the Full HD (1080p) and Ultra HD (4K) resolution segments is also being driven by the increasing popularity of advanced driver assistance systems (ADAS) and autonomous vehicles. These systems require high-resolution cameras to provide the necessary level of detail and accuracy.
Overall, the resolution segment is a key growth driver for the global automotive split-view camera module market. The increasing demand for higher-resolution cameras is expected to continue to drive growth in the coming years.
Automotive Split View Camera Module Market Camera View Insights
The global automotive split-view camera module market is segmented into Camera View, which includes Front Split View, Rear Split View, and Side Split View. Front Split View holds the largest market share due to its ability to provide a wider field of view, making it ideal for parking and low-speed maneuvers.
Rear Split View is gaining popularity as it offers improved visibility when reversing, while Side Split View is expected to witness significant growth due to its use in blind-spot monitoring systems.
In 2023, the Front Split View segment accounted for approximately 45% of the Automotive Split View Camera Module Market revenue, which is projected to reach USD 10.2 billion by 2032, exhibiting a CAGR of 9.8% during the forecast period.
Automotive Split View Camera Module Market Regional Insights
The regional segmentation of the Automotive Split View Camera Module Market showcases significant growth potential across various regions. North America is expected to hold a dominant market share in 2023, owing to the presence of major automotive manufacturers and early adoption of advanced technologies.
Europe is projected to follow closely, driven by stringent safety regulations and increasing demand for premium vehicles. The APAC region is anticipated to witness the highest growth rate during the forecast period, attributed to the rapidly expanding automotive industry in countries like China and India.
South America and MEA are also expected to contribute to the overall market growth, albeit at a slower pace. These regions present opportunities for market expansion due to the growing demand for safety features in automobiles.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Split View Camera Module Market Key Players and Competitive Insights:
Major players in the Automotive Split View Camera Module Market are continuously involved in product development, expansion, and acquisition to increase their market share. Strategic partnerships and collaborations are also common in the automotive split view camera module market, as companies seek to share resources and expertise.
Leading global automotive split-view camera module market players are investing heavily in research and development to introduce innovative technologies and products that meet the evolving needs of the automotive industry.
The automotive split-view camera module market is highly competitive, with numerous established and emerging players. To stay ahead of the competition, companies are focusing on differentiating their offerings through advanced features, superior performance, and cost-effectiveness.
One of the leading companies in the global automotive split-view camera module market is Magna International Inc. The company offers a wide range of automotive vision systems, including split-view camera modules.
Magna's split view camera module is designed to provide drivers with a wider field of view, reducing blind spots and improving safety. The company's strong customer base and partnerships with leading automakers have contributed to its success in the market.
Another major player in the global automotive split-view camera module market is Continental AG. Continental offers a variety of automotive technologies, including split-view camera modules.
The company's split-view camera module is known for its high resolution and advanced image processing capabilities.
Continental's global presence and strong relationships with automakers have helped the company establish a significant market share.
The company's continued investment in research and development is expected to further strengthen its position in the market.
Key Companies in the automotive split-view camera module market Include:
Automotive Split View Camera Module Market Developments
The increasing demand for enhanced safety features, rising adoption of ADAS systems, and growing popularity of autonomous vehicles are key factors driving market growth. Government regulations mandating the installation of rear-view cameras in new vehicles have also contributed to market expansion.
Major players in the market include Continental AG, Magna International, Valeo S.A., and Denso Corporation. Recent developments include the launch of advanced split-view camera modules with features such as 3D imaging, night vision, and object detection.
These advancements are expected to further drive market growth in the coming years.
Automotive Split View Camera Module Market Segmentation Insights
Automotive Split View Camera Module Market Lens Type Outlook
Automotive Split View Camera Module Market Resolution Outlook
Automotive Split View Camera Module Market Camera View Outlook
Automotive Split View Camera Module Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 26.84 (USD Billion) |
| Market Size 2023 | 29.56 (USD Billion) |
| Market Size 2032 | 70.4 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 10.12% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Volvo, Daimler, Volkswagen Group, SAIC Motor, Changan Automobile, Mitsubishi, BMW, Toyota, Tesla, General Motors, Jaguar Land Rover, Hyundai Motor, Audi, Honda, Ford Motor |
| Segments Covered | Lens Type, Resolution, Camera View, Regional |
| Key Market Opportunities | Growing demand for advanced safety features Increasing adoption of autonomous vehicles Integration with infotainment systems Development of high-resolution cameras Expansion into emerging markets |
| Key Market Dynamics | Rising demand for ADAS, growing popularity of luxury vehicles, government regulations, technological advancements, and increasing consumer awareness |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The global automotive split-view camera module market size was valued at USD 29.56 Billion in 2023.
Rising demand for enhanced safety features, increasing adoption of autonomous driving technologies, and growing popularity of premium vehicles are the key factors driving the growth of the automotive split-view camera module market.
The automotive split-view camera module market is projected to grow at a CAGR of 10.12% from 2024 to 2032.
Asia Pacific is expected to hold the largest market share in the automotive split-view camera module market, followed by Europe and North America.
Some of the key competitors in the automotive split view camera module market include Continental AG, Denso Corporation, Magna International, Valeo S.A., and Aptiv PLC.
The automotive split-view camera module market is expected to reach USD 70.4 Billion by 2032.
Automotive Split View Camera Modules are primarily used in blind-spot monitoring systems, lane departure warning systems, and surround-view camera systems.
Advancements in image processing algorithms, sensor technology, and machine learning are driving the development of more sophisticated and reliable Automotive Split View Camera Modules.
Increasing government regulations regarding vehicle safety and autonomous driving are creating new opportunities for the automotive split-view camera module market.
High production costs, technical complexities, and competition from traditional rearview cameras are some of the challenges faced by the automotive split view camera module market.
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