PUBLISHER: The Business Research Company | PRODUCT CODE: 1392456
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392456
“Automotive Camera Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive camera market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive camera? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive camera market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The adoption of automotive cameras is driven by their ability to capture high-quality video and images, enhancing visibility and contributing to driver safety. These cameras are equipped with advanced computer vision algorithms, providing true machine vision systems that supply essential data for driver assistance. Automotive cameras play a crucial role in facilitating tasks such as parking, improving vehicle performance, and ensuring a safer and more comfortable driving experience.
Automotive cameras cater to various vehicle types, including passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Passenger vehicle cameras are specifically designed for transporting individuals, typically accommodating up to eight passengers in addition to the driver. Automotive cameras offer different view types, such as single-view and multi-view systems, utilizing technologies like digital cameras, infrared cameras, and thermal cameras. These cameras find applications in park-assist systems, advanced driver-assistance systems, and other functionalities.
The automotive camera market research report is one of a series of new reports from The Business Research Company that provides automotive camera market statistics, including automotive camera industry global market size, regional shares, competitors with an automotive camera market share, detailed automotive camera market segments, market trends and opportunities, and any further data you may need to thrive in the automotive camera industry. This automotive camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive camera market size has grown rapidly in recent years. It will grow from $8. 92 billion in 2023 to $10. 03 billion in 2024 at a compound annual growth rate (CAGR) of 12. 4%. The historical growth in the adoption of automotive cameras is attributed to an increased focus on vehicle safety, the widespread adoption of Advanced Driver Assistance Systems (ADAS), rising regulatory requirements for rearview and surround-view cameras, growing demand for parking assistance systems, and the emphasis on collision avoidance. Additionally, the integration of cameras in the development of autonomous vehicles has played a significant role in driving the adoption of automotive camera technology.
The automotive camera market size is expected to see rapid growth in the next few years. It will grow to $15. 77 billion in 2028 at a compound annual growth rate (CAGR) of 12. 0%. The forecasted growth in the adoption of automotive cameras can be attributed to the expansion of the connected car ecosystem, a growing trend towards 360-degree camera systems, increased utilization of cameras in commercial vehicles for fleet management, rising demand for advanced safety features, and an increasing need for shared mobility solutions. Key trends in the forecast period include the integration of Artificial Intelligence (AI) and machine learning, the development of high-resolution and low-light performance cameras, customization of camera systems tailored to specific vehicle models and applications, collaborations between automakers and technology providers to innovate camera solutions, and the use of cameras for augmented reality (AR) displays and enhanced driver assistance features.
The anticipated rise in road fatalities is poised to drive the growth of the automotive camera market. Defined as individuals who perish within 30 days due to injuries sustained in road accidents, road fatalities signal the need for heightened safety measures. Vehicle camera systems equipped with accelerometers, g-sensors, GPS tracking, and motion detection play a pivotal role in identifying various safety-related incidents like abrupt braking, sharp turning, and collisions. Immediate footage uploads before and after an incident allow for swift review. Highlighting World Health Organization data from June 2021, approximately 1. 3 million annual deaths result from road traffic crashes, with a staggering 93% occurring in low- and middle-income countries, despite harboring 60% of the world's vehicles. Hence, the surge in road fatalities is a significant driver behind the growth of the automotive camera market.
The burgeoning adoption of electric vehicles (EVs) is significantly contributing to the expansion of the automotive camera market. These vehicles, predominantly powered by electric energy stored in batteries, heavily rely on automotive cameras to enhance safety features, bolster driver assistance systems, and optimize operational efficiency. Notably, data from the International Energy Agency in September 2022 showcased a substantial rise in EV sales, almost doubling from 3 million in 2020 to 6. 6 million in 2021, constituting nearly 9% of total sales and elevating the global EV count to 16. 5 million. Consequently, the escalating demand for electric vehicles plays a pivotal role in propelling the automotive camera market's growth.
Technological advancements represent a prominent trend driving the automotive camera market. Key industry players are fervently engaged in developing innovative technological solutions to fortify their market standing. A prime example is ZF Group's July 2021 launch of the S-Cam 4. 8, the next-gen ADAS camera renowned for its groundbreaking 100-degree horizontal field of view. This cutting-edge camera not only meets stringent safety requirements like Euro NCAP 5-Star Safety Ratings, IIHS Top Safety Pick+, and General Safety Regulations but also employs Mobileye's EyeQ4 processor for advanced object identification technology. This innovation holds promise in bolstering safety measures for vulnerable road users, marking a substantial stride in automotive camera technology.
Prominent entities within the automotive camera market are actively innovating their product offerings by integrating AutoSense in-cabin sensing technology, addressing the escalating demand for advanced automotive camera systems. AutoSense in-cabin sensing technology is engineered to discern occupants' presence, their positions, movements, and even ascertain the driver's attentiveness to the road. An exemplary instance occurred in January 2022 when DTS, a US-based developer specializing in next-generation audio, imaging, and sensing technologies, unveiled the single-camera DTS AutoSense driver and occupancy monitoring solution at CES 2022. This innovative solution elevates driver and occupancy sensing capabilities through a solitary camera, reducing system costs while ensuring privacy for occupants.
In November 2021, Sensata, a US-based manufacturer and distributor renowned for sensors and electronic controls, executed the acquisition of SmartWitness for an undisclosed sum. This strategic acquisition aligns with Sensata's Insight megatrend, a targeted growth initiative, amplifying its market presence. SmartWitness, the acquired entity, specializes in manufacturing in-vehicle cameras, recorders, and software, marking a significant addition to Sensata's portfolio and reinforcing its position in the automotive camera market.
Major companies operating in the in the automotive camera market report are Continental Automotive GmbH, Robert Bosch GmbH Mobility Solutions, Valeo SA, Aptiv PLC, Magna International Inc., Mobileye NV, OmniVision Technologies Inc., ZF Friedrichshafen AG, Denso Corporation, Hella GmbH & Co KGaA, Ficosa International SA, Basler AG, Autoliv Inc., Ricoh Company Ltd., Garmin Ltd., Ambarella Inc., Aisin Seiki Co Ltd., Renesas Electronics Corporation, Clarion Co Ltd., Valeo Vision Systems, Aptina Imaging Corporation, Hyundai Mobis Co Ltd., Lear Corporation, Magneti Marelli, Seeing Machines Ltd., Sony Corporation, Samsung Electronics Co Ltd., Panasonic Corporation, NXP Semiconductors NV, STMicroelectronics NV
Asia-Pacific was the largest region in the automotive camera market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the automotive camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The automotive camera market consists of sales of infrared camera, thermal camera, and digital camera. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.