Automotive Camera Market Size, Competitive Landscape and Market Forecast - 2030

SKU: DMAUTR299 | Last Updated On: Dec 21 2022 | Available Formats

> Automotive Camera Market Expected to reach a high CAGR of 14.92% By 2030: DataM Intelligence

Automotive Camera Market is segmented By Type (Rare View camera, Front view camera, Surround view camera, Side view camera), By Vehicle Type (Passenger Car, Commercial Vehicle, Heavy-Duty Vehicle), By Application (Autonomous Driving, Driver Recording/Dash Cam, Blind spot detection, Parking Assistance, Night vision), By Sales Channel (Original Equipment Manufacturer, Aftermarket), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

 

[150 Pages Report] Automotive Camera Market reached US$ XX million in 2022 and is expected to record significant growth by reaching up to US$ XX million by 2030, growing at a CAGR of 19.5% during the forecast period (2023-2030).

Automotive Camera Market - Strategic Insights

Metrics

Details

Market CAGR

 19.5%

Segments Covered

By Type, By Vehicle Type, By Application, By Sales Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Many camera sensors are installed inside and outside of vehicles. The cameras, which can be used for either human or automated vision, help the driver while driving. The necessity for specialized imaging algorithms that operate with the camera's raw video feed to make them fit for the application arises from the need to use a fixed number of cameras for both machine and human vision.

With surround-view cameras at the lower end of the market and emerging applications like e-mirror at the upper end, cameras are used in various automotive applications. The camera used for the driver-assistance system is expanding quickly because safety is the top concern of new car buyers. Regulations are also not far behind and require several safety features for pedestrians and drivers, many of which use cameras as their primary sensors.

Automotive Camera Market Dynamics

The key reasons driving market expansion include raising stringent government traffic regulations for road safety and increasing use of a trifocal camera. Furthermore, the high costs of implementation may hamper the growth of the automotive camera market.

The growing stringent government traffic regulations for road safety

As per the NHTSA, U.S., an estimated 20,160 persons perished in traffic accidents in the first half of 2021. The National Highway Traffic Safety Administration (NHTSA), on March 31, 2014, released a press statement proclaiming that backup cameras would be required as standard equipment in all new vehicles sold after May 2018 weighed less than 10,000 pounds. Although this rule change is relatively new, the debate about mandated rearview cameras has been ongoing for years, fuelled by safety concerns and personal loss.

For instance, Dr. Greg Gulbransen, a doctor who advocated for the change in regulations, knows firsthand how blindness can lead to catastrophe; in 2002, he accidentally ran over and killed his two-year-old son while backing his automobile into his driveway. The Cameron Gulbransen Kids and Cars Safety Act of 2007, named after Gulbransen's son, aimed to have the NHTSA enact a regulation requiring mandatory backup cameras after 2014. Despite the measure's passage, there were many delays in its implementation. As a result, the growing stringency in traffic regulations due to many mishappening across the globe is a major driver for the growth of the global automotive camera market.

Increasing use of trifocal camera

A fast-emerging trend is the expanding utilization of technologically superior trifocal cameras. These cameras improve object detection and depth perception over great distances. Trifocal cameras use three different cameras, each with a different megapixel count. Sensors are used in these cameras to offer a precise distance between the vehicle and the barrier and a broader field of view. Trifocal cameras can detect the rapid arrival of pedestrians, automobiles or other items that could cause an accident and advise drivers to steer away from them. The continued development of autonomous and semi-autonomous vehicles fuels the need for trifocal cameras in the automotive camera market.

High costs of implementation

Several technological advancements and developments have occurred in vehicle multi-camera systems. When creating a multi-camera system, the user experience, safety and comfort are all critical factors. The multi-camera system consists of several cameras with various components to display real-time images in conjunction with the internal display system. As a result, the multi-camera system has more complicated connections and wiring with electronic systems.

The installation of multi-camera systems necessitates adding components, resulting in a higher overall vehicle cost. However, while pricing is not a major concern in the luxury class, it significantly impacts the economy and mid-priced segments. Manufacturers are more likely to provide cost-effective, improved safety features. As a result, major OEMs worldwide cannot provide automobiles with technologically sophisticated safety features due to financial constraints. 

COVID-19 Impact on Automotive Camera Market

Despite trade restrictions for the first six months of 2020, key extractors in China continued to extract raw materials. Raw material prices, such as copper, will continue to grow, with the price of copper reaching US$ 10,000 per ton for the first time in ten years in May 2021. The COVID-19 pandemic has harshly impacted the global automotive sector. It may be seen in the supply chain disruptions of Chinese part exports, large-scale production interruptions across Europe and assembly plant closures in U.S. and other important countries, such as India and Brazil, where the automotive sector contributes significantly to GDP.

The COVID-19 epidemic slowed market expansion by halting car manufacturing and causing supply disruptions in the automobile industry. On the other hand, the vehicle camera market began to acquire traction due to government regulations in several nations. Furthermore, the market will be driven by new technologies such as night vision systems, cruise control systems and expanding e-mobility. The automobile industry is under fire due to a dramatic drop in car production and sales. The ongoing blockade of various nations has harmed cross-border trade, resulting in higher raw material prices. 

Automotive Camera Market Segment Analysis

By type, the automotive camera market is segmented into rearview camera, front-view camera, surround-view camera, side-view camera and others.

The rise in the use of surround cameras in electric vehicles

Surround-view cameras have the largest market share due to their increasing use in electric vehicles. The stereo cameras are used for surround view, which provides the driver with accurate, real-time depth perception, enhancing safety. As a result, major automakers invest in surround-view cameras that can detect and alert the driver to obstacles in the vehicle's surroundings

Surround View Cameras in vehicles would benefit drivers by better understanding their surroundings, assistance while driving, obstruction awareness and overall automotive safety. Surround View Cameras capture images from all directions and display them on the car's LCD. 360-degree dash cameras are also becoming popular because they provide solid evidence of a collision or accident.

Automotive Camera Market Geographical Analysis

The growing market penetration of premium cars in Asia-Pacific

Asia-Pacific geography includes developing countries such as China, India and Thailand. The growing market penetration of premium cars and safety installations per vehicle is accelerating the demand for automotive night vision and driver monitoring systems. The safety systems, including automobile cameras used in compact and mid-sized vehicles, are cutting-edge and comparable to those accessible in Europe and North America in the developed economies of Asia-Pacific nations like Australia and Singapore.

Australian cars have excellent safety features. It is mostly driven by the local population's strong safety awareness. The market for automotive cameras is anticipated to be driven by the export-driven requirement for lane-departure warning systems and other cutting-edge driver-aid systems in Europe and North America. Automotive cameras have advanced significantly to work with other car safety systems and help drivers.

Automotive Camera Market Competitive Landscape 

The automobile is an onboard camera that records the highest quality video to increase visibility and improve the driver's safety. These cameras are primarily used to aid drivers with parking, evaluate vehicle performance, provide night vision and gather vital evidence. 

Many companies are working on developing automotive cameras with increasing technological advancements. For instance, on December 21, 2021, Hyundai Mobis, the Korean automaker's technological branch known for crab-walking technology and the next best thing in head-up displays, developed a hybrid headlamp system that functions as both a camera and a headlight. 

Major global automotive camera market companies include Delphi Technologies, Qrontech Co. Ltd., Hyundai Mobis, Lexus, Samvardhana Motherson, STONERIDGE, INC., Denso Corporation, Robert Bosch GmBH, Magna International, GENTEX CORPORATION, Continental AG, Valeo, VisionTrack, BMW, Autoliv Inc., ZF Friedrichshafen AG and Rear View Safety, Inc.

ZF Friedrichshafen AG

Overview: ZF Friedrichshafen AG (ZF), a subsidiary of Zeppelin-Stiftung Co, is an automobile technology provider. It supplies automotive components and systems for mobility solutions ranging from motorcycles and construction equipment to trucks and yachts. The company's products include steering & braking systems, occupant safety systems, front & rear axles, transmissions & powertrain modules and drive components.

Spare parts, preventative maintenance, conversion & retrofitting repair, technical information & advice, training & professional marketing support and remanufacturing of used units are all available through ZF. The company has an operational footprint in Europe, North America, South America, Asia-Pacific and Africa; and has manufacturing, R&D and other facilities worldwide.

Product Portfolio: The company provides S-Cam 4.8 and surround cameras. S-Cam 4.8 is designed to meet the growing demand for more capability and flexibility by combining ZF's longitudinal and lateral vehicle control experience with Mobileye's sophisticated object recognition and EyeQ4 technology.

Key Development: In October 2020, ZF Friedrichshafen AG expanded its manufacturing footprint for Advanced Driver Assist Systems technologies by launching its new Electronics Plant in Częstochowa, Poland. The new facility has initiated serial production of the company's innovative S-Cam4.8 cameras.

The global automotive camera market report would provide access to an approx. 90 market data table, 72 figures and 221 pages. 

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FAQ

What is the Automotive Camera Market growth?

The market is growing at a CAGR of 14.92%

What is the Automotive Camera Market size in 2021?

The Automotive Camera Market size was valued at USD YY million in 2021.

Who are the key players in the Automotive Camera Market?

Autoliv Inc, Ambarella, Robert Bosch, Continental AG, Delphi Automotive PLC, Omni Vision, Qrontech Co. Ltd, Valeo Inc, Cosworth, ZF Corporation PLC.

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