Overview and Scope
An automotive camera refers to a camera that is used to capture high-quality video and images to increase visibility and ensure driver safety. Automotive cameras are often implanted with cutting-edge computer vision algorithms for true machine vision systems, which can delay the vital data needed for driver assistance. These cameras help the driver with easy parking, better performance, and quality to support customers for safer and more comfortable driving.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The automotive camera market report table of contents includes:
1. Executive Summary
2. Automotive Camera Market Characteristics
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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26. South America Automotive Camera Market
27. Brazil Automotive Camera Market
28. Middle East Automotive Camera Market
29. Africa Automotive Camera Market
30. Automotive Camera Market Competitive Landscape And Company Profiles
Top Major Players:
- Continental Automotive GmbH
- Robert Bosch GmbH Mobility Solutions
- Valeo SA
- Aptiv PLC
- Magna International Inc
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