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Global Automotive Camera Market is expected to reach nearly US$ 20 billion by 2028: Ken Research

Global Automotive Camera Market is expected to record a positive CAGR of ~12% during the forecast period (2022-2028) and is expected to reach nearly US$ 20 billion by 2028, owing to increasing concerns regarding the drivers’ safety along with supportive legislations for installing safety technologies in passenger cars.

The growing consumer demand for active safety systems coupled with increased penetration of camera-based convenience features in passenger cars and commercial vehicles are anticipated to propel the growth of the global automotive camera market during the forecast period.

  • The stringent government initiatives to install safety technology in cars and other vehicles to enhance the safety of drivers coupled with increasing penetration of safety systems in vehicles is likely to propel the growth of the global automotive camera market.
  • The global automotive camera market faces challenges due to the high installation cost of the automotive camera.
  • The rising incidence of malfunctioning camera components such as modules, sensors, and other components along with the high cost to fix the damages is also expected to restrict the growth of the market.
  • The COVID-19 pandemic negatively impacted the automotive camera market due to the suspension of the production of vehicles and decreased demand for vehicles. Additionally, a halt in the automotive industry due to disruption in supply also slowed down the growth of the market during the pandemic. However, the market started gaining momentum owing to different mandates by different countries.

global-automotive-camera-market

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Key Trends by Market Segment:

By Vehicle Type: The passenger vehicles segment held the largest share of the global automotive camera market by vehicle type in 2021, owing to the rising incidence of car accidents along with the increasing requirement for an active safety system.

  • The increasing demand for camera-based convenience features, especially in luxury vehicles is expected to fuel the demand for the segment in the global automotive camera market.

By Application: The ADAS segment accounted for the largest share of the global automotive camera market in 2021, attributed to the surge in the installation of ADAS in passenger cars and commercial vehicles.

  • Growing demand for ADAS systems in vehicles to improve their safety as it offers key driving assistance functions such as controlling speed, maintaining a safe speed, and other functions, is anticipated to aid the growth of the segment in the global automotive camera market.

global-automotive-camera-market-revenue

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By Technology: Infrared camera segment accounted for the largest share of the global automotive camera market in 2021, due to the growing demand for cameras that operate in low-light conditions in vehicles.

  • Infrared cameras can detect invisible heat radiation emitted by objects regardless of lighting conditions which can offer an added advantage to the drivers and can ensure their safety, which is anticipated to aid the growth of the segment in the global automotive camera market.

By Geography: North America region accounted for the largest share of the global automotive camera market in 2021, due to the rising demand for luxury vehicles among consumers.

  • The increasing installation of advanced driver-assistance systems (ADAS) to enhance the safety of drivers coupled with the increasing number of manufacturers providing value-added service in the region, is expected to augment the growth of the region in the automotive camera market.

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Competitive Landscape

  • The automotive camera market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players who have their niche in automotive cameras.
  • Regional players comprise ~45% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Garmin Ltd., Panasonic Holdings Corporation, Continental AG, Autoliv, Robert Bosch GmbH, Magna International Inc., OMNIVISION, ZF Friedrichshafen AG, Aptiv, and STONKAM CO., LTD., among others.
  • The leading global automotive camera companies such as Robert Bosch GmbH, OMNIVISION, and ZF Friedrichshafen AG are highly focused on offering value-added services to the end-users.global-automotive-camera-market-size

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Recent Developments Related to Major Players

  • In June 2020, OMNIVISION launched an OX03C10 ASIL-C automotive image sensor, which is a large 3.0-micron pixel size with a high dynamic range (HDR) of 140 dB and the best LED flicker mitigation (LFM) performance for viewing applications with minimized motion artifacts. The company aimed to enhance its product portfolio by offering first-viewing imaging sensors with LFM and HDR.
  • In July 2020, ZF Friedrichshafen AG launched a new S-Cam 4.8, a next-generation ADAS camera. The new camera has enhanced vision technology and can significantly expand the 100-degree field of view for enhanced AEB, semi-automated vehicle function, and lane keeping. The company aimed to enhance its product portfolio.

Conclusion

The global automotive camera industry is forecasted to continue exponential growth, primarily driven by the surging demand for active safety systems among consumers. Furthermore, the rising penetration of camera-based convenience features in luxury vehicles along with the increasing installation of ADAS in vehicles is expected to fuel the growth of the market. Though the market is highly competitive with ~100 participants, regional players control the dominant market share.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for pre-booking clients, and the report delivered within a maximum of two working weeks.

Market Taxonomy

Ken Research has recently published report titled Global Automotive Camera Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented by vehicle type, application, and technology. In addition, the report also covers market size and forecasts for the four region’s automotive camera market. The revenue used to size and forecast the market for each segment is US$ billion.

By Vehicle Type

Passenger Vehicles

Commercial Vehicles

By Application

Park Assist

ADAS

Others

By Technology

Infrared Camera

Thermal Camera

Digital Cameras

By Geography

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Sweden, Italy)

Asia-Pacific (China, Japan, South Korea, India, Indonesia, Australia)

LAMEA (Latin America, Middle East, Africa)

Key Players

Garmin Ltd.

Panasonic Holdings Corporation

Continental AG

Autoliv

Robert Bosch GmbH

Magna International Inc.

OMNIVISION

ZF Friedrichshafen AG

Aptiv

STONKAM CO., LTD.

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