Global Automotive Camera Market- Market Overview:

The global automotive camera market is expected to grow from USD 8.04 billion in 2022 to USD 17.8 billion by 2030, at a CAGR of 10.5% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising automotive sector and the increasing demand of consumers for enhanced safety features in automobiles.

As a type of electronic device, an automotive camera provides visual aids to the person driving in real-time as well as enables the execution of autonomous driving functions such as park assist, driver monitoring, and blind spot detection. In addition to detecting collision threats and notifying the driver, these cameras interrelate with their surroundings and can identify potential collision threats. A vehicle can be equipped with automotive cameras both on its exterior and interior for safety purposes. In addition to maintaining a safe distance from leading vehicles, externally mounted cameras also identify pedestrians and keep track of road edges. For proper deployment of an airbag, an internal camera detects drowsy drivers and sets an alarm and identifies the passenger seat occupant. As a rear-view camera, the automotive camera monitors the image of the surrounding environment in real-time and recommends a steering angle for the wheel turn, which makes reversing easier. Therefore, the automotive camera forms part of the rear-view system, making parking easy and convenient. Although automotive cameras can be installed in cars for a high price, the high initial installation cost can limit their sales. Furthermore, increasing vehicle prices along with the high costs associated with designing and testing these cameras will hamper the market's growth in the future.

Sample Request: - Global Automotive Camera Market

Market Dynamics:

Drivers:                          

• Technological advancements

A number of advanced technologies, including 3D depth sensing, ultra-HD displays, and infrared thermal technology, support market growth. Among the key factors driving market growth are the growing influence of the new car assessment program (NCAP), the growing demand for safety measures, and the increasing demand for luxury vehicles.

Restraints:         

• High cost

An interior display system connects the multi-camera system, which includes front, rear, and side view cameras. The entire system consists of complex networks and amplified wiring, along with electronic systems, which makes the vehicle's overall cost higher. Installation of such systems requires additional components, resulting in a higher total cost. As a result, a large number of OEMs around the world can't offer technologically-advanced safety features in their automobiles thanks to their preference to offer advanced and effective safety features at a minimum price

Opportunities:

• Rising development of autonomous systems

In the Projection period, the automotive camera market will face various growth opportunities due to the development of autonomous vehicles, the increasing popularity of multi-camera systems in emerging markets, and the high demand for electric vehicles (EVs).

Challenges:

• Vulnerable to damage

The automotive camera market is witnessing immense growth but there are some factors which are challenging the market growth. Such as it is still not possible to use automotive cameras as all-weather sensors since they can be damaged and damaged very easily. However, manufacturers are focusing on optimizing the vehicle sensor architecture in order to achieve significant adoption in the market as automotive cameras gain popularity.

Segmentation Analysis:

The global automotive camera market has been segmented based on technology, vehicle type, application, and region.

By Technology

The technology segment includes thermal, infrared and digital. The infrared segment led the largest share of the automotive camera market with a market share of around 47.5% in 2022. Due to the increasing demand for long-range obstacle detection, infrared cameras are expected to grow rapidly during the Projection period. Among the many systems that utilize infrared cameras are autonomous emergency braking (AEB), forward collision warnings (FCW) and adaptive cruise control (ACC). A growing requirement for identifying items emitting heat, such as animals, vehicles, and humans, without the need for light or headlights is expected to increase the demand for infrared cameras. During the Projection period, these factors are expected to increase the popularity of infrared cameras and colours, as well as propel market growth. Furthermore, infrared cameras can be used to determine the distance and speed of objects and prevent collisions.

By Vehicle Type

The vehicle type segment includes passenger cars and commercial vehicles. The passenger cars segment led the largest share of the automotive camera market with a market share of around 67.4% in 2022. There is a high market potential for active safety systems in the passenger car segment, the world's largest vehicle segment. It is currently the largest market for ADAS because of the growing demand for safer and more comfortable vehicles. Governments in both developed and developing countries intend to make the ADAS system mandatory in passenger cars.

By Application

The application segment includes a parking assist system, lane departure system, night vision recording, blind spot detection and corrosion and others. The parking assist system segment led the largest share of the automotive camera market with a market share of around 28.4% in 2022. The market for automotive cameras in 2021 was dominated by park assistance systems. The use of an automotive camera with a parking assistance system and an advanced driver assistance system (ADAS) allows drivers to park more safely in any parking space. In light and large commercial vehicles as well as passenger cars, park assist systems are used, which drives the market growth. Many systems offer cross-traffic alerts, which provide increased visibility and additional context about the vehicle and the surrounding area.

Global Automotive Camera Market - Sales Analysis.

The sale of automotive cameras expanded at a CAGR of 9.8% from 2016 to 2022.

A number of other factors are contributing to the growth of the automotive camera market, including the growing penetration of camera-based convenience features in luxury vehicles and the active engagement of players in the market. In addition, the growing consumer demand for active safety systems is another factor that is growing the automotive camera market.

Also, road accidents result in significant economic losses for individuals and their families as well as for nations. The loss of productivity resulting from the cost of treatment and the loss of productivity for those who were killed or disabled by their injuries, as well as for their family members, fuels the demand for automotive cameras, which in turn boosts the market growth.

The government's initiatives to increase passenger safety and the increasing number of road accidents can boost the market growth.

Thus, owing to the aforementioned factors, the global automotive camera market is expected to grow at a CAGR of 10.5% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the automotive camera market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The Asia Pacific region dominated the automotive camera market and held a 40.2% share of the market revenue in 2022.

• The Asia Pacific region witnessed a major share. In the Asia Pacific region, the automotive camera market is expected to grow the fastest during the Projection period. The key drivers of the Asia Pacific automotive camera market are vehicle hybridization and electrification, electric vehicle production, and passenger vehicle sales. Vehicle hybridization and electrification, increasing electric vehicle production, and increasing passenger vehicle sales are some of the factors driving the market. Growing economies and increasing disposable incomes for middle-class consumers have increased the demand for vehicles in Asia-Pacific. As a result of low production costs, vehicle production has dramatically increased in the past five years. Furthermore, the Chinese government has also reduced car taxes to increase sales.
• North America is anticipated to experience significant growth during the predicted period. It is predicted that the automotive camera market in the region will see a significant increase due to an increase in demand for luxury cars in the United States and Canada, followed by an increase in the installation of safety and driver assistance systems following the CAFÉ and FMVSS regulatory standards. As well as promoting the adoption of automotive cameras, the United States government has initiated various programs and projects.

Global Automotive Camera Market - Country Analysis:

• Germany

Germany's automotive camera market size was valued at USD 0.52 billion in 2022 and is expected to reach USD 1.16 billion by 2030, at a CAGR of 10.6% from 2023 to 2030.

A number of factors contributing to the market's growth include increasing demand for automobiles, increasing safety concerns among consumers, stringent government norms, the latest innovations, the rapid adoption of ADAS, and the availability of cost-effective parking cameras and sensors. It is expected that the automotive camera market will grow over the Projection period as government norms such as installing advanced safety features like ADAS, and European authorities will make the installation of Automotive Emergency Braking (AEB) and Forward Collision Avoidance/Warning Systems mandatory by 2020.

• China

China’s automotive camera market size was valued at USD 0.83 billion in 2022 and is expected to reach USD 1.89 billion by 2030, at a CAGR of 10.9% from 2023 to 2030.

China's automotive camera market grow at the fastest rate between 2015 and 2020 and will keep growing throughout the Projection period. Moreover, the market is growing due to an increase in demand for luxury passenger vehicles, which in turn contributes to the market's growth. Research, development, manufacturing, and testing of new equipment are carried out with a lot of machinery and equipment in this industry.

• India

India's automotive camera market size was valued at USD 0.64 billion in 2022 and is expected to reach USD 1.45 billion by 2030, at a CAGR of 10.8% from 2023 to 2030.

The automotive camera market is expected to grow due to the increase in demand for automobiles, the growing concern about safety among customers, government norms, advanced innovations, rapid adoption of advanced technology, and the availability of low-cost parking cameras and sensors in the aftermarket. Although the high price of the module has somewhat hindered market growth, ADAS such as adaptive cruise control (ACC), forward collision warning systems (FCWS), and automatic emergency brakes (AEB) are complemented by three to six cameras. Entry into the automotive camera market is a challenge due to the high cost of these cameras, which are almost eight times as expensive as those for mobile phones.

Key Industry Players Analysis:  

To increase their market position in the global automotive camera market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Autoliv Inc
• Robert Bosch GmBH
• Delhi Automotive PLC
• Valeo S.A.
• Balluf
• ADA-ES Inc.
• TRW Automotive
• Denso Corporation
• CropX Inc
• Avidor High Tech
• The Yield Pty Ltd
• Auroras s.r.l.

Latest Development:

• In February 2020, New Braunfels, Texas, USA, - Continental announced that a new plant is being constructed for the purpose of expanding its capacity to make radar sensors for advanced driver assistance systems (ADAS).
• In July 2021, The German-U.S. company Recogni, working on a chip architecture for object recognition on AI, acquired a minority stake in Continental. Recogni's chip architecture performs rapid data processing for autonomous vehicles.
• In January 2022, At CES 2022, DTS, a wholly owned subsidiary of Xperi Holding Corporation and a leader in developing next-generation audio, imaging, and sensing technology, announced the launch of its revolutionary driver and occupancy monitoring solution with a single camera, the DTS AutoSense driver.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	10.5%
Market Size	8.04 billion in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Technology, By Vehicle Type, By Application, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Autoliv Inc, Robert Bosch GmBH, Delhi Automotive PLC, Valeo S.A., Balluf, ADA-ES Inc., TRW Automotive, Denso Corporation, CropX Inc, Avidor High Tech, The Yield Pty Ltd, and Auroras s.r.l.
By Technology	Thermal Infrared Digital
By Vehicle Type	Passenger Cars Commercial Vehicles
By Application	Parking Assist System Lane Departure System Night Vision Recording Blind Spot Detection Corrosion Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Automotive Camera Market by Technology:

• Thermal
• Infrared
• Digital

Global Automotive Camera Market by Vehicle Type:

• Passenger Cars
• Commercial Vehicles

Global Automotive Camera Market by Application:

• Parking Assist System
• Lane Departure System
• Night Vision Recording
• Blind Spot Detection
• Corrosion
• Others

Global Automotive Camera Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia