Reports & Insights recently released a unique report titled "Automotive Camera Market: Opportunity Analysis and Future Assessment 2023-2030," which refers to detailed market documentation and statistics summarizing factors like market size, market prospects and future opportunities, possible challenges, prevailing trends, and leading players engaged in the market. This report was developed by the recognized market expertise using verified research methodologies and proven analytical approaches. The anticipated year is 2023–2030, with 2021 serving as the study's base year. The global Automotive Camera Market is projected to be worth more than US$ 14.1 Bn in 2022 and US$ 27.3 Bn in 2030, with a sizable CAGR of 8.6%.
The global automotive camera market is estimated to reach at a value of US$ 14.1 Bn by the end of 2020 and expected to reach at a value of US$ 27.3 Bn by 2028 with a significant CAGR of 8.6%
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Automotive Camera Introduction
Since the time vehicles have been developed, the distress with respect to safe transport on roads has only escalated. Automobile manufacturers, in several years, have made myriad efforts to synthesize new technologies in vehicles so, in the matter of an emergency, the harm can be kept to a minimum. At the most primary level, when one considers the security mechanisms in cars, airbags and seatbelts strike in mind. Having said that, technological advancements have made progress way ahead in present times, owing to which innovative technologies, including advanced driver assistance systems (ADAS) have been established. ADAS is a vehicle-mounted intelligent system that has the potential to improve road safety in the context of crash intensity mitigation, security and post-crash phases, as well as crash prevention. One of the crucial components of ADAS are automotive cameras, which serve its utility in object discovery, reconnoitering texture, creating a 3D design of the area all around the car, and identifying signs. These cameras are generally employed for assisting the driver in manoeuvring, parking, and examining the performance of the vehicle.
Automotive Camera Market Dynamics
In recent times, automobiles are integrated with a number of automotive cameras such as exterior cameras installed at the front, rear and sides of the body, as well as interior cameras. These automotive cameras are used for the application of an automatic parking assist, around view monitor, driver monitoring system for ADAS (Advanced Driver Assistance System), drive recorder, as well as AD (Autonomous Driving). These advanced technologies are majorly used as camera monitoring systems in order to enhance the vehicle quality and performance to assist consumers for more comfortable and more secure driving. Owing to which, automotive cameras are gaining enormous traction in the global markets, thus projected to boost the growth of the global automotive camera market in the forthcoming years.
Along with majorly assisting the driver of the vehicle in parking, manoeuvring, and examining the performance of the vehicle, these automotive camera systems holds a crucial role in other essential applications like Forward Collision Warning System (FCWS), Lane Departure Warning Systems (LWDS), and Blind Spot Warning (BSW). attributing to which, the automotive cameras are expected to observe rapid growth in demand in the near future, ultimately accelerating the growth of the global automotive camera market over the forecast period.
In other respects, the growth in sales of automobiles all across the world in conjunction with numerous technological advancements in the cameras as well as in the automotive industry is also playing a positive role in propelling the growth of the global automotive camera market in the near future.
However, the sudden strike of COVID-19 global crisis has severely hampered the global growth of the automotive camera market as it encountered the pressure of a significant fall in the production and sales of vehicles. In addition, the continuing wave of COVID-19 cases along with stringent restrictions is further estimated to inhibit the growth of the global Automotive Camera Market Size over the forecast period.
Nevertheless, governments, all across the world, are imposing strict regulations for installing automotive cameras in vehicles in order to avoid increasing count of road accidents worldwide. Attributing to which, the global automotive camera market is expected to witness significant growth over the coming years.
Automotive Camera Market Segmentation
The global automotive camera market is segmented on the basis of application, view type, technology, vehicle type and class, electric vehicle, level of autonomy and regions.
On the basis of application, the automotive camera market is segmented into Park Assists and ADAS. On the basis of view type, the market is categorized into a single view system and multi camera system.
Further, the automotive camera market is segmented on the basis of technology into infrared camera, thermal camera and digital camera. On the basis of vehicle type and class, the market is segmented into passenger cars and commercial cars. The passenger cars are further bifurcated into economy vehicles, mid-priced vehicles, and luxury vehicles. Also, the commercial cars segment is further divided into light commercial vehicles and heavy commercial vehicles. Then, the market is segmented on the basis of electric vehicles into BEV, FCEV, HEV, and PHEV. Furthermore, the market is segmented on the basis of level of autonomy into L1, L2 & L3, L4 and L5.
The research report classifies the global automotive camera market based on application, view type, technology, vehicle type and class, electric vehicle, level of autonomy and regions.
By Application
Park Assists
ADAS
By View Type
Single View System
Multi-Camera System
By Technology
Infrared Camera
Thermal Camera
Digital Camera
By Vehicle Type and Class
Passenger Cars
Economy Vehicle
Mid-Priced Vehicle
Luxury Vehicle
Commercial Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
By Electric Vehicle
BEV
FCEV
HEV
PHEV
By Level of Autonomy
L1
L2 & L3
L4
L5
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Automotive Camera Market Key Players
The global automotive camera market is dominated by Robert Bosch, Continental AG, ZF Friedrichshafen, Denso, Aptiv, Ficosa, and Magna International, among others.
Some of the Key Questions Answered in this Report:
Which are the five top players of the Automotive Camera market?
How will the Automotive Camera market change in the upcoming years?
Which product and application will take a share of the Automotive Camera market?
What are the drivers and restraints of the Automotive Camera market?
Which regional market will show the highest growth?
What will be the CAGR and size of the Automotive Camera market throughout the forecast period?
What is the current market size, what will the market size be in 2030 and what will the growth rate be?
What are the challenges to grow in the market?
What are the market opportunities and challenges faced by the key vendors?
Who are the major competitors and what is their strategy?
What are the barriers to entry for new players in the market?
MMC Overview on Automotive Camera Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the automotive camera market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
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