Global automotive camera market is valued USD 7.0 billion in year 2019. The market is projected to grow at CAGR of 7.3% during the forecast period of 2020-2026.
However the COVID19 has hit all businesses across the globe. Pandemic has become a major matter of concern for automotive manufacturers. Due to lockdown all the manufacturers has to shutdown their plant. The social distancing norms and lockdown has disrupted the supply of raw material. The supply disruption has caused the suspension of production. However, it is expected that the market will rise by 2022. The new developed technologies are believes to show gradual growth till 2021.
For more details, visit: Global Automotive Camera Market By Type (Digital, Infrared, Others), By Vehicle Type (Passenger Cars ,Commercial Vehicle),By Application (ADAS, Parking Assistance), By Electric Vehicle, By Region–Forecast & Opportunities to 2026
The demand for advanced safety features has been increasing rapidly all over the globe. This the major driving factor in automotive camera market. People are demanding more safety features in their vehicle as they are aware of importance of such features in the vehicle.
Based on type automotive camera is segmented into digital, infrared and Thermal cameras. The digital camera market is expected to grow at highest CAGR during the forecast period. The digital camera provides extended and a clear vision. Digital camera are better in night vision than others hence automotive manufacturers are adopting digital camera largely, owing to increase in digital camera segment in automotive camera market during the forecast period.
Based on vehicle type automotive camera is segmented into passenger vehicle, light commercial vehicles and heavy commercial vehicles. Passenger car segment has accounted for maximum market share in the year 2019. The passenger vehicle market despite hit by pandemic is expected witness growth at highest CAGR in the automotive camera market
Based on application automotive camera is segmented into park assistance and ADAS. ADAS segment is expected to account for largest market share during forecast period. ADAS involves use of cameras in it. With increase in ADAS demand camera market is growing in automotive sector. This system is largely adopted as it is highly advanced automobile safety system ensuring driver’s safety.
Based on Electric Vehicle automotive camera is segmented into fuel cell electric vehicle, battery electric vehicle, hybrid electric vehicle and plug-in hybrid electric vehicle. The battery electric vehicle (BEV) segment is expected to register growth at highest CAGR during the forecast period. The excess emission of carbon causing ecological imbalance due to government has made some strict emission norms to be followed by every car manufacturer hence government I promoting BEV. BEV consist of many advanced technological features thus BEV camera marketing is rising.
Asia-Pacific region is expected to register growth at highest CAGR during forecast period. Sale of electric as well as passenger vehicle is increasing. The production of such vehicles is also rising driving the automotive camera market to grow. The consumers are also demanding advanced safety features in this area. Many manufacturers are shifting their plants in Asia-Pacific region because of high opportunity of growth in this area. This is driving automotive camera market to witness growth in near future.
The key market players in automotive camera market are AutoLiv Inc, ADA-ES, Basler AG, Balluf, Allied Vision Technologies, Delhi Automotive PLC, Denso, Rober BOSCH, Valeo SA, TRW Automotive, Conitnental AG, Magna International, Garmin, Panasonic and veoneer.
- What are the expected industry trends over the next three to five years?
- Which of the automotive camera type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?