The global automotive camera market size was evaluated at $7.99 billion in 2023 and is slated to hit $18.07 billion by the end of 2032 with a CAGR of nearly 9.50% between 2024 and 2032.
The research identifies the market’s demand drivers and restraints for automotive cameras, as well as the effect that each will have on demand throughout the forecast period.
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An automotive camera refers to the onboard cameras that have been developed with the purpose of capturing high-definition recordings in order to improve the driver’s visibility. These cameras are specifically engineered to assist with parking and ensure the safety of the motorist. An automotive camera provides the utmost in night vision quality while concurrently aiding in the collection of vital data.
Increasing governmental regulatory frameworks and rising passenger safety concerns are facilitating the implementation of advanced driver assistance systems. Because of this, the automotive camera is crucial to the advancement of ADAS. The wide field of view, high image resolution, and exceptional night vision of these cameras aid in the detection of cross-view objects, including bicycles, pedestrians, and other vehicles.
More than 91.5 million ADAS units are anticipated to be exported globally by 2020. Concurrently with the increasing global adoption of ADAS, the penetration of automotive cameras has increased, which is expected to propel this market throughout the forecast period.
Furthermore, the speed camera alert function plays a substantial role in propelling the market for automotive cameras. Nevertheless, in the coming years, the market growth of automotive cameras could be impeded by the substantial upfront investment needed for their implementation. Furthermore, it is anticipated that advancements in automotive camera technology, including the improvement of night vision quality, will generate fresh market prospects in the coming years.
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The Global Automotive Camera Market is segmented based on product, application and region
Global Automotive Camera Market: Product Segment Analysis
● Light Commercial Vehicles
● Heavy Commercial Vehicles
● Passenger Vehicles
Global Automotive Camera Market: Application Segment Analysis
● Lane Departure Warning System
● Driver Monitoring System
● Park Assist System
● Blind Spot Detection
● Adaptive Cruise Control System
● Autonomous Emergency Braking System
● Others
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The global Automotive Camera market profiles key players such as:
● Robert Bosch GmbH
● Clarion
● Magna International Inc
● Autoliv
● Continental AG
● Ficosa
● Automation Engineering Inc
● Intel
● OmniVision Technologies
● Aptiv PLC
Europe is anticipated to possess a significant portion of the worldwide automotive camera market in the coming years, owing to the notable prevalence of prominent automotive camera manufacturers and the region’s thriving automotive sector. Asia-Pacific automotive market demand for automotive cameras is anticipated to increase at a rapid rate over the forecast period, owing to the burgeoning automotive industries of developing Asian economies, including India and China.
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