The global automotive camera market is expected to witness significant growth over the next seven years on account of growing advancements in camera based drive assistance sensors, automotive safety systems, and aftermarket sales of parking cameras. Ongoing advancements in the camera technology along with large production output of the product are expected to lower the price drastically, which will create immense market potential in the near future.
Increasing demand for sensing cameras in advanced driver assistance systems is expected to drive automotive camera industry growth over the next seven years. High requirement of the product primarily in the passenger cars is expected to propel industry size. China and India are likely to drive product demand in light of growing automotive part manufacture hubs and a large number of suppliers in the market.
Rising demand for luxury vehicles is one of the key factors driving the product demand in the near future. Increased focus on safety measures due to road accidents will fuel the global automotive camera industry over the next seven years.
Increasing demand for various cameras including thermal camera, infrared camera, and digital camera in commercial vehicles and passenger cars is expected to create immense industry potential over the next seven years. However, high cost of the automotive camera is expected to restrain market growth over the next seven years. Rising prices of vehicles along with high costs incurred at the design & testing phase is expected to act as a key challenge for the automotive camera market growth. However, shifting focus of automobile manufacturers toward the replacement of side-view mirrors with cameras is expected to open growth opportunities over the upcoming years.
The automotive camera on the basis of application is segmented into excavator, off-highway vehicles into loader, and articulate dump truck. The excavator segment is expected to dominate the market for the global off-highway rear view camera system market in light of high demand for excavators in construction industries across the globe.
Market growth is majorly driven by the increasing application of complementary metal-oxide semiconductor (CMOS) image sensors in automotive cameras. The market is likely to witness a surge in demand for safety solutions safety systems and driver assistance including BSD (blind spot detection system), LDWS (lane departure warning system), FCW (forward collision warning system), head-up displays and pedestrian protection. Driver assistance systems involve camera, and Human-Machine Interface (HMI). Rising consumer awareness regarding the driver assistance systems including electronic control unit, different sensors, and camera module will drive product demand in the near future. Automotive cameras are mainly incorporated in Advance Driver Assistance Systems (ADAS). ADAS includes Adaptive Cruise Control (ACC), Lane Departure Warning (LDW), Pedestrian Detection (PD), Blind Spot Detection (BSD), Driver Monitoring, Park Assist System (PAS), Night Vision, and Road Sign Recognition Systems (RSRS).
North American is a dominant vehicle camera market and is expected to witness significant gains on account of growing demand for luxury vehicles in the U.S., Canada, and Mexico, coupled with increasing installation of ADAS in commercial vehicles and passenger cars. Europe is also a prominent market for the product and will show immense growth in light of high installation of ADAS and legislation mandating the installation of safety technologies in the passenger cars in Germany, the UK, France, and Italy. The growing influence of the new car assessment program me (NCAP) is one of the drivers for the global automotive camera market. Asia Pacific will witness significant growth mainly in China, India, Japan, Thailand, Malaysia, and South Korea in light of rapid industrialization along with increasing number of automobile production. In addition, rising disposable income along with high standard of living of the consumers will propel market growth over the next seven years.
Various industry participants of the global automotive camera market include Autoliv, Inc., Ambarella, Omnivision Technologies Inc., Denso Corporation, Delphi Automotive PLC, Magna International Inc., Valeo S.A, Robert Bosch GmbH, and TRW Automotive. Ambarella launched A7LA model of automotive camera solution, which enables a full 30fps 1080p full HD single and dual camera view configurations, and supports video recording through both the front and read windshield or even inside the vehicle. The camera is a combination of wide dynamic range (WDR), providing a superior image quality, smart auto-exposure, and full-resolution oversampling.
TRW developed advanced camera solutions for safety systems including following distance indication (FDI), forward collision warning (FCW), and lane departure warning (LDW). Delphi Automotive PLC (UK) is one of the prominent players and offers RACam, which is a high-performance radar, compact, and camera integrated system that ensures adaptive cruise control, forward collision warning, lane-departure warning, and autonomous braking low-speed collision mitigation, which will drive its demand in the near future.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent..."
The global electronics devices market (including consumer electronics and industrial electronics devices) is expected to be impacted significantly by COVID-19 as China is one of the major suppliers for the raw materials (used to manufacture devices) as well as the finished products. The industry is on the brink of facing a reduction in production, disruption in supply, and price fluctuations. While this can vastly encourage local manufacturers to step up and address the growing demand, the scarcity of raw material can still pose a challenge to this industry. The sales of prominent electronic companies is expected to be affected in the near future. The report will account for Covid19 as a key market contributor.