The automobile industry maintains a very strong presence and value, considering the fact that many major corporations have challenges with overcapacity and low profitability. The sector also has decent benefits for well-paid workers, has close ties with producers (which gives it an oversized position in economic development), and has a strong political impact.
Many new vehicles have autonomous systems, such as autonomous emergency braking (AEB). AEB systems use radar, cameras, and lidar technologies to determine the road ahead and figure out possible accidents. In general, these devices warn the driver that action is required to avert a potential collision, and then, if no action is taken, the AEB will be activated on the driver's behalf. The use of tiny cameras in the vehicle makes it easier for the driver to search for concealed items that are normally impossible for the driver to see from the driving seat. There are tire pressure sensors to avoid collisions, lane shift sensors, and crash control sensors. The use of an anti-lock brake mechanism and stability control both allow drivers to keep their vehicles under control while driving.
The rise in demand for autonomous vehicles and the increasing adoption of driving assistance features have played a pivotal role in the adoption of automotive cameras globally. Along with this, the increase in the disposable income of individuals has resulted in the demand for luxury vehicles. ADAS and park assist features, among others, have been installed widely in these vehicles, thus providing an impetus for growth to the automotive camera market.
The automotive camera market was estimated at $6,304.2 Million in 2019 and is projected to grow at a CAGR of 13.94% during the forecast period 2020-2025.
Trends influencing the automotive camera include growing popularity of stereo vision cameras, next-generation 3d surround view systems, integrating cameras into headlight and taillights, and combining cameras and other sensors for early detection of aquaplaning situations.
The market research study offers a wide perspective of different automotive cameras used in vehicles. The report also provides an analysis of the market penetration of cameras in different applications and their growth opportunities across different regions as well as countries. The study focuses on the changing landscape of the automotive camera market, owing to the significant developments made by the leading players.
Market Segmentation
• Application Type – Passenger and Commercial
• By Type – Front View, Side View, Rear View, and In-vehicle Cameras
• Technology – Infrared and Digital
• View Type- Single View and Multi View
• Level of Autonomy- Level 1, Level 2, Level 3, Level 4, and Level 5
Regional Segmentation
• North America - U.S., Canada, and Mexico
• Europe – Germany, Spain, France, and Rest-of-Europe
• Asia-Pacific and Japan (APJ) - South Korea, India, Japan, and Rest-of-APJ
• U.K.
• China
• Rest-of-the-World
Growth Drivers
• Regulations and Mandates Appreciating the Usage of Automotive Cameras
• Growing Popularity of Autonomous Vehicles
• Prevention of False Insurance Claims
• Increasing Road Accidents
Market Challenges
• Lapses in Imagery Sensors and Difficulty in Detection
• High Cost of Camera Modules
Market Opportunities
• AI-Based In-Vehicle Cameras for Advanced Driver Monitoring
• Integrating Camera and Lidar into a Single Unit
Key Companies Profiled
Ficosa International S.A., Continental AG, Denso Corporation, Hella KGaA Hueck & Co., OmniVision Technologies, Inc., Stonkam Co., Ltd., Hyundai Mobis Co. Ltd., Kappa optronics GmbH, Magna International Inc., Ricoh Company Ltd., Robert Bosch GmbH, STMicroelectronics N.V., Valeo Group, LG Innotek Co., Ltd., and Aptiv PLC
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