Automotive Camera Module Market Competitive Share Analysis and Forecast Report

Posted by Rahul Gautam on April 13th, 2021

The mushrooming sales of autonomous and luxury vehicles and the growing requirement for advanced safety systems and features are the main factors boosting the demand for automotive camera modules across the world. In addition to this, the enactment of the New Car Assessment Program (NCAP) is further fueling the sales of automotive camera modules. Due to the growing incidence of road accidents, the governments of many countries are implementing strict regulations that mandate the incorporation of safety features in automobiles.

Due to the above-mentioned reasons, the sales of automotive camera modules are rising rapidly, which is, in turn, driving the advancement of the global automotive camera module market. According to the estimates of the market research firm, P&S Intelligence, the market would register huge expansion from 2020 to 2030. The biggest application areas of these camera modules are park assist (PA), lane departure warning (LDW), blind spot detection (BSD), autonomous emergency braking (AEB), and adaptive cruise control (ACC).

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Globally, the automotive camera module market would register the highest growth in North America in the upcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This is credited to the growing requirement for luxury vehicles and the increasing integration of advanced driver assistance systems (ADAS) in both commercial vehicles and passenger cars in the region. The industry would record the second-highest growth in Europe in the future years.

Hence, it can be said without any hesitation that the demand for automotive camera modules would shoot-up all over the world in the forthcoming years, mainly because of the growing popularity of luxury and autonomous vehicles and the rising adoption of ADAS in automobiles across the world.