DUBLIN--(BUSINESS WIRE)--The "Global Automotive Camera Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Vehicle Type, Application, Technology, and Major Regions" report has been added to ResearchAndMarkets.com's offering.

Global Automotive Camera Market is expected to record a positive CAGR of ~12% during the forecast period (2022-2028) and is expected to reach nearly US$ 20 billion by 2028, owing to increasing concerns regarding the drivers' safety along with supportive legislations for installing safety technologies in passenger cars.

The automotive camera is designed in a way to capture high-quality video to extend visibility which enhances the safety of the driver. These are the onboard camera that assists the driver with night vision, parking, assessing vehicle performance, and other purposes. The automotive camera is embedded with advanced computer vision algorithms, which play a crucial role in park assist, advanced driver assistance system (ADAS), and other applications.

The growing consumer demand for active safety systems coupled with increased penetration of camera-based convenience features in passenger cars and commercial vehicles are anticipated to propel the growth of the global automotive camera market during the forecast period.

The stringent government initiatives to install safety technology in cars and other vehicles to enhance the safety of drivers coupled with increasing penetration of safety systems in vehicles is likely to propel the growth of the global automotive camera market.

The global automotive camera market faces challenges due to the high installation cost of the automotive camera.

The rising incidence of malfunctioning camera components such as modules, sensors, and other components along with the high cost to fix the damages is also expected to restrict the growth of the market.

The COVID-19 pandemic negatively impacted the automotive camera market due to the suspension of the production of vehicles and decreased demand for vehicles. Additionally, a halt in the automotive industry due to disruption in supply also slowed down the growth of the market during the pandemic. However, the market started gaining momentum owing to different mandates by different countries.

Key Trends by Market Segment

By Vehicle Type: The passenger vehicles segment held the largest share of the global automotive camera market by vehicle type in 2021, owing to the rising incidence of car accidents along with the increasing requirement for an active safety system.

The increasing demand for camera-based convenience features, especially in luxury vehicles is expected to fuel the demand for the segment in the global automotive camera market.

By Application: The ADAS segment accounted for the largest share of the global automotive camera market in 2021, attributed to the surge in the installation of ADAS in passenger cars and commercial vehicles.

Growing demand for ADAS systems in vehicles to improve their safety as it offers key driving assistance functions such as controlling speed, maintaining a safe speed, and other functions, is anticipated to aid the growth of the segment in the global automotive camera market.

By Technology: Infrared camera segment accounted for the largest share of the global automotive camera market in 2021, due to the growing demand for cameras that operate in low-light conditions in vehicles.

Infrared cameras can detect invisible heat radiation emitted by objects regardless of lighting conditions which can offer an added advantage to the drivers and can ensure their safety, which is anticipated to aid the growth of the segment in the global automotive camera market.

By Geography: North America region accounted for the largest share of the global automotive camera market in 2021, due to the rising demand for luxury vehicles among consumers.

The increasing installation of advanced driver-assistance systems (ADAS) to enhance the safety of drivers coupled with the increasing number of manufacturers providing value-added service in the region, is expected to augment the growth of the region in the automotive camera market.

Competitive Landscape

The automotive camera market is highly competitive with ~100 players that include globally diversified players, regional players as well as a large number of country-niche players who have their niche in automotive cameras.

Regional players comprise ~45% of the total number of competitors, while the country-niche players comprise the second highest of the total number of competitors. Some of the major players in the market include Garmin Ltd., Panasonic Holdings Corporation, Continental AG, Autoliv, Robert Bosch GmbH, Magna International Inc., OMNIVISION, ZF Friedrichshafen AG, Aptiv, and STONKAM CO., LTD., among others.

The leading global automotive camera companies such as Robert Bosch GmbH, OMNIVISION, and ZF Friedrichshafen AG are highly focused on offering value-added services to the end-users.

Conclusion

The global automotive camera market is forecasted to continue exponential growth, primarily driven by the surging demand for active safety systems among consumers.

Furthermore, the rising penetration of camera-based convenience features in luxury vehicles along with the increasing installation of ADAS in vehicles is expected to fuel the growth of the market. Though the market is highly competitive with ~100 participants, regional players control the dominant market share.

Key Topics Covered in the Report

  • Snapshot of the Global Automotive Camera Market
  • Industry Value Chain and Ecosystem Analysis of the Automotive Camera Market
  • Market size and Segmentation of the Global Automotive Camera Market
  • Historic Growth of the Overall Global Automotive Camera Market and Segments
  • Competition Scenario of the Automotive Camera Market and Key Developments of Competitors
  • Porter's 5 Forces Analysis of the Global Automotive Camera Industry
  • Overview, Product Offerings, and Strategic Developments of Key Competitors
  • COVID-19 Impact on the Overall Global Automotive Camera Market
  • Future Market Forecast and Growth Rates of the Global Automotive Camera Market and by Segments
  • Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
  • Analysis of the Automotive Camera Market in Major Regions
  • Major Production/Consumption Hubs in the Major Regions
  • Major Production/Supply and Consumption/Demand Hubs in Each Region
  • Major Country-wise Historic and Future Market Growth Rates of the Total Automotive Camera Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Region

Major Companies Mentioned in the Report

  • Garmin Ltd
  • Panasonic Holdings Corporation
  • Continental AG
  • Autoliv
  • Robert Bosch GmbH
  • Magna International Inc
  • OMNIVISION
  • ZF Friedrichshafen AG
  • Aptiv
  • STONKAM CO.,Ltd
  • Mobileye N.V
  • Valeo
  • Canon
  • Zebronics
  • Renesas

Scope of the Report

By Vehicle Type

  • Passenger Vehicles
  • Commercial Vehicles

By Application

  • Park Assist
  • ADAS
  • Others

By Technology

  • Infrared Camera
  • Thermal Camera
  • Digital Cameras

Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

For more information about this report visit https://www.researchandmarkets.com/r/beuk12

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