Automotive camera systems play significant role in the most recent applications like Lane Departure Warning Systems (LWDS), Forward Collision Warning Systems (FCWS), and Blind Spot Warning. They are primarily used to assist the driver with parking, and evaluating the performance of the vehicle (BSW). For true Machine Vision systems, automotive cameras can also be embedded with cutting-edge computer vision algorithms, providing a disruptive contribution to the Advanced Driver Assistance Systems (ADAS).
Automotive Cameras Market Overview:
The Automotive Cameras market study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the global industry. The scope of the research includes a thorough investigation of the Automotive Cameras Market, as well as the reasons for variations in the industry’s growth in various locations.
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Global Automotive Cameras Market size was valued at US$ 22.5 Bn. in 2021 and the total revenue is expected to grow at 14.3% of CAGR through 2022 to 2029, reaching nearly US$ 65.55 Bn.
Market Scope:
Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Dynamics:
The increased use of cutting-edge technology in the automotive industry has made autonomous systems possible. The Society of Automotive Engineers (SAE), International created the SAE J3016TM “Levels of Automated Driving”. Levels 0 (No Automation), 1 (Driver Assistance), 2 (Partial Automation), 3 (Conditional Automation), 4 (High Automation), and 5 (Level 5 Automation) are the different categories (Full Automation),
But as you progress through the levels, you’ll need to use more sophisticated equipment, like cameras and sensors, to assist drivers. The global camera market is anticipated to grow significantly, with a CAGR of 14.3%, thanks to the market for autonomous vehicles.
Segmentation:
The park assistance system market segment accounted for the largest revenue share in the global automotive camera market in 2021, according to application. With the aid of a parking assistance system built into an automobile camera and an advanced driver assistance system, drivers can park more safely in any parking space (ADAS). Park assist systems are used in both light and large commercial vehicles as well as passenger cars, and they are what is causing the market to grow. With the aid of these technologies, the driver can back out of parallel-parked cars and park their vehicle in a row. Cross-traffic alerts are provided by many systems, and these alerts display a wider visual and the surroundings of the vehicle.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the global markets are determined by using secondary sources and verified through the primary sources. The biggest players in the Automotive Cameras market are as follows:
• Aptiv Plc.
• Robert Bosch GmbH
• Veoneer, Inc.
• Siemens AG
• Magna International, Inc.
• Valeo S.A
• Omnivision Technologies Inc.
• ZF Friedrichshafen AG (TRW Automotive)
• Ambarella, Inc.
• Panasonic Corporation
• Hella
• Ficosa International S.A.
• Delphi Automotive PLC
• Sony Corporation
• Denso Corporation
• Mobileye
• Continental AG
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Regional Analysis:
Individual market influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the Automotive Cameras market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on Automotive Cameras Market:
Due to a break in operations, end-user sectors where Automotive Cameras are used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for Automotive Cameras manufacturers, affecting the development of the Automotive Cameras market in 2020. End-user business demand for Automotive Cameras has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
Key Questions Answered in the Automotive Cameras Market Report are:
- Which segment had the largest share in the Automotive Cameras market in 2021?
- What is the competitive landscape of the Automotive Cameras market?
- Which are the key drivers aiding the Automotive Cameras market growth?
- Which region has the maximum share in the Automotive Cameras market?
- What will be the CAGR of the Automotive Cameras market during the forecast period (2022-2027)?
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