The automotive camera global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Camera Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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 growth in the historic period can be attributed to growing emphasis on vehicle safety, adoption of advanced driver assistance systems (adas), increasing regulatory requirements for rearview and surround-view cameras, rise in demand for parking assistance systems and collision avoidance, integration of cameras in autonomous vehicle development.
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 growth in the forecast period can be attributed to expansion of the connected car ecosystem, growing adoption of 360-degree camera systems, increased use of cameras in commercial vehicles for fleet management, growing demand for advanced safety features, growing demand for shared mobility. Major trends in the forecast period include integration of artificial intelligence (ai) and machine learning, development of high-resolution and low-light performance cameras, customization of camera systems for specific vehicle models and applications, collaboration between automakers and technology providers for innovative camera solutions, use of cameras for augmented reality (ar) displays and enhanced driver assistance features.
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Scope Of Automotive Camera Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
An increase in the number of road fatalities is expected to propel the growth of the automotive camera market going forward. Any person killed or dying within 30 days as a result of a road injury accident is considered a road fatality. The vehicle camera systems include an accelerometer and g-sensor, as well as GPS tracking and motion detection, which allow for the identification of a wide range of safety-related incidents, such as extremely sharp braking or turning, and crashes. To allow for early viewing, the system immediately uploads footage from before and after the incident. For instance, according to World Health Organization data published in June 2021, approximately 1.3 million people die each year as a result of road traffic crashes. Also, 93% of the world’s road fatalities occur in low-and middle-income countries, even though these countries have approximately 60% of the world’s vehicles. Therefore, the increase in the number of road fatalities is driving the growth of the automotive camera market.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The automotive camera market covered in this report is segmented –
1) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By View Type: Single View System, Multi Camera System
3) By Technology: Digital Cameras, Infrared Cameras, Thermal Cameras
4) By Application: ParkAssist, Advanced Driver-Assistance Systems
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Regional Insights –
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
Key Companies –
Major companies operating 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
Table of Contents
1. Executive Summary
2. Automotive Camera Market Report Structure
3. Automotive Camera Market Trends And Strategies
4. Automotive Camera Market – Macro Economic Scenario
5. Global Automotive Camera Market Size and Growth
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31. Global Automotive Camera Market Competitive Benchmarking
32. Global Automotive Camera Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Automotive Camera Market
34. Automotive Camera Market Future Outlook and Potential Analysis
35. Appendix
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