The Global Automotive Camera Market was worth US$ 8.15 billion in 2022 and is anticipated to reach a valuation of US$ 13.48 billion by 2028 and is predicted to register a CAGR of 10.60% during 2023-2028.
Automotive cameras are used for an assortment of uses, for example, cruiser control frameworks and night vision frameworks in vehicles, especially in traveler autos. Car cameras are introduced in the back and front side of automobiles just as inside them for well-being purposes. Vehicles furnished with these cameras offer a better driving experience by improving the front and rear perspective of the driver.
The automotive camera is a locally available camera, which is intended to catch the most excellent video to broaden permeability for upgrading the well-being of the driver. These cameras are significantly used to help the driver for leaving, to evaluate vehicle execution, for night vision, and to assemble essential proof. Moreover, they are inserted with cutting-edge PC vision calculations, which remove crucial information from the caught pictures to help the driver for different purposes and assume a vital job for cutting-edge driver assistance frameworks.
Market Drivers:
The rising impact of new vehicle evaluation programs is one of the key elements expected to support the development of the global automotive camera market in the upcoming years. Developing interest in traveler autos combined with expanding mindfulness in regards to well-being is quickening the interest for car cameras in vehicles, which, thus, is required to fuel the development of the automotive camera business. Expanding interest in detecting cameras in driver help frameworks just as developing need for cutting-edge innovations in automobiles are a portion of the significant variables answerable for the development of car camera sales. In addition, automotive cameras are sufficiently delicate to detect unforgiving driving conditions and help drivers in controlling their vehicles. This factor is foreseen to support the development of the target market.
In the present situation, the expansion of back and side-view mirrors with automotive cameras in traveler vehicles is expanding, which, thus, is relied upon to build the OEM and secondary selling offers of these cameras. This factor will turn into a growth driver for the global automotive camera business during the estimated time frame. Multi-camera systems play a serious role in the development of autonomous vehicles and provide added benefits to realize higher autonomy levels.
The adoption of auto vision systems is rapidly increasing in Advanced Driver Assist Systems (ADAS) to supply lane departure assist, emergency braking, and forward-collision warning to drivers. The automated braking system typically uses cameras and sensors to detect pedestrians crossing the road and applies breaks automatically if a pedestrian is in peril of being hit. Additionally, cameras are integrated with ADAS to assist in the automated switching of vehicles’ headlights in low-light conditions. These components have the skills to capture the encompassing images and identify collision threats and inform drivers, driving the market demand.
The rise in the number of road fatalities is compelling the demand for advanced safety features altogether new cars. The inner camera system transmits a warning if it detects any drowsiness in drivers, which can help to scale back the number of road fatalities significantly. Additionally, various governments across the world are implementing stringent laws regarding passenger safety, which can further add up to market development.
Market Restraints:
The high beginning establishment cost of car cameras can go about as a limitation to the worldwide market. Besides, the rising costs of vehicles alongside the significant expense brought about during the structuring and testing of these cameras may hamper the development of said business in the future.
Market Recent Developments:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
10.60% |
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Segments Covered |
By Application, Technology, Vehicle, Sales Channel, and Region. |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Automation Engineering Inc., Robert Bosch GmbH, Continental AG, Aptiv PLC, Stonkam Co., Ltd., Mobileye N.V., Autoliv Inc., Magna International Inc., OmniVision Technologies, Valeo SATop of FormBottom of Form, and Others. |
Market Segmentation:
The parking assistance system and lane departure warning system segments are likely to witness the highest demand and revenue share in the global automotive camera market in the coming years.
The rising passenger vehicle production within the emerging Asian economies, including India and China, because of an increase in middle-class income is predicted to drive the segment in the global automotive camera market. Consistent with the World Economic Forum, the number of passenger cars is anticipated to succeed in 2 billion by the top of 2040. The increasing adoption of safety features in passenger cars, like auto parking assistance and lane departure warning, is increasing the adoption of those components.
Original Equipment Manufacturers (OEMs) are predicted to account for a notable share of the global business in the coming years due to the increasing investments and demand from automotive manufacturers.
Market Regional Analysis:
The Global Automotive Camera Market Report includes the segmentation of regions:
The North American automotive camera market is predicted to overwhelm the global business due to the expanding interest in lavish vehicles in the US and Canada. This, combined with expanding establishment of a cutting-edge driver-help framework, is evaluated to support the interest in-car cameras in the forthcoming years. Europe's automotive camera market holds a significant portion of the overall automotive camera business because of the nearness of an enormous number of vehicle makers in the locale. So, inferable from increasing spending of the white-collar class populace and developing lifestyles are growing interest for car cameras.
The Asia Pacific automotive camera market is likely to attribute a considerable share throughout the estimated period. Latin America, the Middle East, and African businesses are anticipated to observe expanded interest in cameras because of growing urbanization and financial development, which, thus, will quicken the development of the automobile camera business during the projected time frame.
Key Players of the Market:
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