Global Automotive Camera Market Size to exceed $19bn by 2025

Automotive Camera Market size is set to exceed USD 19 billion by 2025; according to a new research report by Global Market Insights, Inc. The global shipments are anticipated to grow at 17% CAGR from 2019 to 2025.
 

The changing preferences of automobile manufacturers toward the replacement of side-view mirrors with cameras to offer a wide rear view for drivers are expected to elevate the automotive camera market growth. The Global National Car Assessment Program (Global NCAP) is providing new motor vehicle safety ratings across the globe to increase the safety of passengers & pedestrians. Vehicles with 5-star ratings ensure maximum vehicle performance in crash incidents while vehicles with 1-star rating have marginal crash protection, increasing the adoption of automotive cameras in vehicles. The latest advancements in camera technology, such as neural network & machine learning coupled with mass production of these units, are anticipated to propel the market growth.

 

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Additionally, these cameras are incorporated in vehicles to support semi-automated and autonomous driving functions, expanding the automotive camera market. These components are used with a vehicle’s electronic controlled braking system to support adaptive cruise control and automatic braking functions. Vehicle manufacturers across the globe are integrating a number of cameras with vehicles to support autonomous driving and enhanced safety features. For instance, Tesla has integrated around eight cameras into vehicles that provide a 360-degree view around cars with a range of 250 meters. Moreover, the dashboard cameras are used to record external events while a car is parked, increasing the vehicle security. However, the high costs associated with new trifocal cameras are limiting their utilization in economic & low-cost vehicles, hampering the automotive camera market growth. These cameras are integrated with advanced LiDAR sensors, which add to the overall cost of vision systems.
 

Automotive Camera Market

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The parking assist applications in the automotive camera market are gaining popularity as they are installed in vehicles to assist drivers while parking their vehicles. The increasing number of accidents while reversing cars is compelling the demand for rear view cameras in vehicles. Rear view cameras allow drivers to see what is behind, eliminating blind spots and providing adequate time to brake if any object is close to a vehicle. The growing adoption of rear-view systems in vehicles to enhance safety will provide lucrative opportunities to players operating in the market. Moreover, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) has announced that all new automobiles manufactured in the U.S. after May 2018 will include rear-view cameras for increased visibility of drivers, which will increase the market growth in the region.
 

Browse key industry insights spread across 250 pages with 379 market data tables & 22 figures & charts from the report, “Automotive Camera Market Size By Type (Mono, Stereo, Trifocal), By Application (ADAS [Lane Departure Systems, Emergency Braking Systems, Forward Collision Warning, Others], Parking Assist), By Vehicle Type (Passenger Cars, Utility Vehicles, Commercial Vehicles), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-camera-market
 

The adoption of cameras is expected to increase in commercial vehicles to provide various safety features such as blind spot monitoring, lane departure warning, and autonomous braking system. The rising trend of truck platooning coupled with the increasing adoption of ADAS in trucks is propelling the growth of the automotive camera market. Truck platooning is the linking of two or more trucks using automated driving support and connectivity technologies. These trucks use cameras & sensors to maintain a set distance from each other while travelling. Additionally, these vision components are used in commercial vehicles to keep a track of drivers’ facial expressions and can transmit a warning sound when they are feeling drowsy, attributing to the market growth.
 

The North America automotive camera market is expected to grow at around 24% CAGR from 2019 to 2025 due to an increase in the demand for luxury vehicles in the U.S. and Canada. The growing number of vehicle crashes in the U.S. is propelling the integration of ADAS & safety systems in vehicles, driving the industry growth. NHTSA is promoting safety by sharing information regarding novel vehicle technologies in the U.S. to reduce the number of accidents. Moreover, the implementation of various federal vehicle safety standards set by the Federal Government is expected to increase the market growth in the region.
 

The key companies in the automotive camera market include Continental AG, Veoneer, Magna International Inc., Robert Bosch GmbH, Valeo, Denso Corporation, Aptiv PLC, Mobileye, etc. These players are striving to develop advanced automotive camera systems to provide reliable & safe performance to drivers. Additionally, camera providers are collaborating with the leading tech companies to develop advanced vehicle networking systems that will be deployed in vehicles in the future. For instance, in June 2018, Continental AG, Robert Bosch, NVIDIA, Aquantia, and Volkswagen announced the development of the Networking for Autonomous Vehicles (NAV) alliance for the development of multi-gig Ethernet networking in vehicles.
 

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The automotive camera market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in Units from 2015 to 2025, for the following segments:

By Type

  • Mono
  • Stereo
  • Trifocal

By Vehicle Type

  • Passenger Cars
  • Utility Vehicles
  • Commercial Vehicles

By Application

  • ADAS
    • Lane departure systems
    • Emergency braking systems
    • forward collision warning
    • Others
  • Parking assist

The above information is provided for the following regions and countries:

  • North America 
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa

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