Global Automotive Camera Market at A Highest CAGR of 10.75 % to rapidly growing

Posted by swamiv on November 19th, 2019

Global Automotive Camera Market  By Technology (Digital Camera, Infrared Camera, Thermal Camera), View Type (Single View System, Multi-View System), Application (Driver Monitoring System, Park Assist System, ADAS, Blind Spot Detection, Others), Vehicle Type (Passenger Vehicles, Commercial Vehicles), EV Type (BEV, PHEV, HEV)

Market Analysis: Global Automotive Camera Market

Global Automotive Camera Market is expected to rise from its initial estimated value of USD 7.38 billion in 2018 to a projected value of USD 16.70 billion by 2026, registering a CAGR of 10.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growth in demand of vehicles and the overall growth of the automotive industry.

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Market Definition: Global Automotive Camera Market

Automotive cameras are an electronic device or equipment that help in the visual aids of the individuals driving the vehicles as well as the implementation of autonomous driving systems such as driver monitoring, park assist, blind spot detection. These cameras have the capabilities to interact with their surroundings and identify any possible collision threats and inform them to the driver.

Market Drivers:

•          Increasing adoption of ADAS in vehicles due to the prevalence of IoT in automobiles
•          Growing cases of accidents and road fatalities involving blind spots in vehicles; the incorporation of automotive camera helps in eliminating such blind spots, this factor is expected to drive the market growth

Market Restraints:

•          High cost of installation and maintenance of these cameras is expected to restrain the market growth

Segmentation: Global Automotive Camera Market

•          By Technology

o    Digital Camera

o    Infrared Camera

o    Thermal Camera

•          By View Type

o    Single View System

o    Multi-View System

•          By Application

o    Driver Monitoring System

o    Park Assist System

o    Advanced Driver-Assistance System (ADAS)

o    Blind Spot Detection

o    Others

•          By Vehicle Type

o    Passenger Vehicles

o    Commercial Vehicles

o    Light Commercial Vehicles

o    Heavy Commercial Vehicles

•          By EV Type

o    Battery Electric Vehicle (BEV)

o    Plug-In Hybrid Electric Vehicle (PHEV)

o    Hybrid Electric Vehicle (HEV)

Key Developments in the Market:

•          In July 2018, Continental AG announced the incorporation of automotive cameras for the right turn assist system in trucks improved the performance of the radars and the entire system significantly.
•          In June 2018, ZF Friedrichshafen AG and Mobileye announced a collaboration agreement to develop and provide the “S-Cam4” to major automotive manufacturers.

Competitive Analysis: Global Automotive Camera Market

Global Automotive Camera Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive camera market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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