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Automotive camera market By Application (Blind spot detection, Park assist system, Driver monitoring system, Adaptive cruise control system and others); By technology (thermal camera, digital camera and infrared camera) By Type (passenger car and commercial vehicle); and Region Analysis of Market Size, Share and Trends for 2014 2019 and Forecasts to 2030.
Automotive camera market registered a growth of USD 6.4 bllion in 2021 and to surpass USD 14.8 billion by 2030 expected at a CAGR of 9.9% till 2030.
An automotive camera refers to an onboard camera that is installed on the front side, the rear side, or the inside of a vehicle for purpose of safety. They are designed to capture the highest video quality to enhance visibility for the passenger. They contain image sensors that are joined with electronic components inside of a vehicle. Cameras used in automotive are generally used for assisting the driver in parking the vehicle, assessing the vehicle’s performance, driving at the night time, and gathering evidence. The growing influence of new car assessment programs, increased demand for luxury vehicles all over the world, and demand for safety measures to increase its growth in the market.
Automotive camera market is expected to project a CAGR of 11.2% during the forecast period, 2021-2030
New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera. The high demand for the product by passenger cars will also accelerate its growth. Higher per capita automotive spending in the sector also acts as a driving agent in the market. Additionally, a higher number of road casualties and government measures are also expected to stimulate market growth. Moreover, the growing security and safety concerns among individuals and New Car Assessment Programs around the globe are other factors that are fueling the market of the automotive camera market.
By application, the market is segmented into Blind spot detection, park assist system, Driver monitoring system, Adaptive cruise control system, and others. The adaptive cruise control system helps in maintaining a safe distance between two vehicles and alerts the driver if the other vehicle comes too close. Additionally, if the driver is unable to apply breaks the cruise control system automatically slows down the vehicle. The growing awareness of consumers toward advanced safer technologies is likely to maintain the dominance of the segment.
By technology, it can be classified into thermal cameras, digital cameras, and infrared cameras. Various features of thermal cameras such as their night vision system as well as their visibility in weather conditions such as snow, rain, and fog are expected to maintain a high CAGR during the forecast period.
By type, it can be classified into passenger car and commercial vehicle segments. The passenger car segment dominated the market due to the high demand for passenger cars and the emergence of new auto manufacturers in the world.
Technological advancements and higher per-capita automotive spending to increase growth
New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera. The high demand for the product by passenger cars will also accelerate its growth. Higher per capita automotive spending in the sector also acts as a driving agent in the market. Additionally, a higher number of road casualties and government measures are also expected to stimulate market growth. Moreover, the growing security and safety concerns among individuals and New Car Assessment Programs around the globe are other factors that are fueling the market of the automotive camera market.
High installation costs and rising vehicle prices hamper the market growth
High costs for the installation of automotive cameras as well as the rise in prices of vehicles act as restraining factors in the market. Additionally, the high cost incurred during the designing and testing of the camera is also likely to hamper the market.
North America is expected to dominate the regional segment due to the increase in the demand for luxury vehicles in the region. The rise in the installation of advanced driver assistance systems is also likely to increase growth. New technological advancements in the camera technology, as well as large production output of the product, are likely to increase the market growth of the automotive camera in the region.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Military Automotive camera market size was estimated at USD 6.4 bllion in 2021 and is expected to reach USD 14.8 billion by 2030
Continental, Robert bosch, Valeo, Aptiv, Magna international, Stonkam, Autoliv, OmniVision, Mobileye, and other prominent players
The adaptive cruise control system segment and The thermal camera segment are anticipated to hold the Military Automotive camera market
Technological advancements and higher per-capita automotive spending to increase growth
An automotive camera refers to an onboard camera that is installed on the front side, the rear side, or the inside of a vehicle for purpose of safety. They are designed to capture the highest video quality to enhance visibility for the passenger.
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