Automotive Camera Market Size is projected to reach USD 19.95 billion by 2032, Growing at a CAGR of 10.75% | SNS Insider

The Automotive Camera Market is experiencing significant growth, driven by the increasing adoption of ADAS and enhanced safety features.

AUSTIN, TX, UNITED STATES, October 28, 2024 /EINPresswire.com/ -- Automotive Camera Market Trends Analysis

The Automotive Camera Market size was USD 7.96 billion in 2023 and is expected to reach USD 19.95 billion by 2032, growing at a CAGR of 10.75% over the forecast period of 2024-2032. Regulatory mandates, such as rearview camera requirements, and growing consumer demand for safety-focused technology are key factors contributing to the surge in automotive camera installations in vehicles worldwide.

Automotive Camera Market Growth Fueled by Rising ADAS Integration and Stringent Safety Regulations.

A host of factors are compelling the growing demand for automobile cameras, the initial being the mandate requirements concerning safety features and consumer interest in ADAS. Across the globe, governments have begun enforcing regulations that have established rearview cameras and other safety features as a mandatory fit in a vehicle. This has consequently increased cameras in vehicles. Other growth factors in the market are the growing demand for ADAS functionalities of automatic emergency braking, lane departure warning, and blind-spot detection. This is further driven by autonomous vehicles that rely heavily on camera systems to provide perception and navigation. Moreover, AI-driven camera technology advances are going to further spur demand, especially in passenger car and commercial vehicle applications.

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Key Players Listed in the Automotive Camera Market Are:

• Continental (Germany)
• Robert Bosch (Germany)
• Valeo (France)
• Aptiv (Ireland)
• ADA-ES Inc. (U.S.)
• Allied Vision Technologies (Germany)
• Balluf (Germany)
• Basler AG (Germany)
• Autoliv Inc (Sweden)
• Delhi Automotive PLC (U.K.)
• Denso Corporation (Japan)
• TRW Automotive (U.S.) and Magna (Ireland)

Automotive Camera Market Growth Driven by Safety Regulations, ADAS Integration, and Advanced Imaging Technologies.

Primary drivers that are growing in the automotive camera market include increased customer preference for safety features, government regulation, and technological advancements in cameras. The demand in the market for cameras is particularly recorded in passenger vehicles wherein these cameras come with the ADAS system. Vehicle cameras will install a large number of cameras as governments shift focus from discussing road safety to implementing changes, thus driving the automotive camera market forward. Technology drivers include the adoption of CMOS image sensors in-vehicle cameras, which has resulted in better image quality and lower production costs.

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Segment Analysis

By Camera Type:

The digital cameras hold more than 60% of the share of the automotive camera market in 2023. These are well applied to most ADAS application areas, such as rearview cameras, lane departure warnings, and traffic sign recognition. Their affordability accompanied by the effectiveness of the automakers would well drive their market, and the trend continue further by driving the competition ratio down to 0.7 in 2023.

By Vehicle Type:

Passenger Cars Passenger cars are still the largest market of the automotive camera with a 72% share in 2023. The adoption of ADAS features such as automatic emergency braking, blind-spot detection, and lane departure warning systems in passenger cars has increased strongly the adoption of cameras in this area of the automotive industry. Rear-view cameras show increasing adoption in commercial vehicles, especially in North America and Europe, due to more stringent safety regulations related to features such as blind-spot monitoring.

By Application Type:

Automotive cameras in terms of application type are seen to be predominantly provided by Lane Departure Warning or LDW, 25-30% of the market share. Blind Spot Detection cameras followed closely with 15-20% and also other major application types were Adaptive Cruise Control or ACC, Park Assist, and Pedestrian Detection, taking a 10-15% share each. There are Night Vision and Road Sign Recognition cameras which hold smaller shares of the market but are bound to increase with technology.

Automotive Camera Market Key Segmentation:

By Camera Type:

• Digital camera
• Infrared camera
• Thermal camera

By Vehicle Type:

• Passengers’ car
• Commercial vehicles

By Application Type:

• Lane Departure Warning
• Blind Spot Detection
• Adaptive Cruise Control
• Park Assist System
• Pedestrian Detection
• Night vision
• Road Sign Recognition
• Driver Monitoring

Regional Development

The Asia-Pacific (APAC) market for automotive cameras is also growing satisfactorily, backed by regulatory requirements and trends in demand for safety features from consumers. The APAC market is expected to grow to a CAGR of around 11.9%, thus higher than the world average. China and India are growing rapidly with new industrialization and increasing disposable incomes, thus leading to a sharp increase in the demand for automotive cameras. Government programs, like rear-view cameras and other ADAS features in new cars for newly introduced vehicles, are further accelerating market growth in the region.

Regional growth in North America is expected to continue at an impressive CAGR of 9.20%, mainly due to strict safety regulations in this region and a well-established automotive industry. Investments by governments in research for autonomous vehicles are driving up demand for high-resolution camera systems. While APAC continues to be the major contributor with its stronger growth rates, North America occupies an important position for global market share with its developed infrastructure and well-established automotive industry.

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Recent Trends:

October 2024: Sony Semiconductor Solutions Corporation (SSS) announced that it will release in April this year ISX038 CMOS image sensor for automotive cameras. The product is the world's first*1 device that can simultaneously process and output RAW*2 and YUV*3 images.

May 2024: Sheba Microsystems Inc.-MEMS Technologies leader and now the world’s first autofocus automotive camera, Sharp-7. It is for the first time Sheba offers an automotive-specific solution, featuring an automotive-grade large 8 MP sensor with a fully integrated MEMS driver.

Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Automotive Camera Market Segmentation, By Camera Type
9. Automotive Camera Market Segmentation, By Vehicle Type
10. Automotive Camera Market Segmentation, By Application Type
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

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