Automotive cameras are used to help the driver in parking & assessing the performance of the vehicle. Automotive cameras play a crucial role in applications like Lane Departure Warning Systems (LWDS), Forward Collision Warning System (FCWS), and Blind Spot Warning (BSW). MarkNtel Advisors recently published a research report regarding this segment, highlighting that the Global Automotive Camera Market size is anticipated to grow at a CAGR of 17.3% during the forecast period of 2024-30.
The major factors leading to the rising demand & usage of automotive cameras include the soaring development of the automotive sector and the mounting disposition of consumers regarding luxury automobiles. Moreover, additional factors such as the production of passenger vehicles, the growing usage of technologically innovative trifocal cameras, and the implementation of safety standards by the government are also contributing heavily to the Global Automotive Camera Market’s growth.
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The development of Advanced Driver Assistance Systems (ADAS) technologies to tackle the rising apprehension regarding road safety and the objective to lessen accidents has also been a major factor. Additionally, the ADAS system comprises automatic emergency braking, adaptive cruise control, lane departure warnings, and advanced sensor technology, thus making it highly effective and leading to a rise in its demand. Further, all these factors collectively have resulted in the significant growth of the Global Automotive Camera Market.
Analyzing the Global Automotive Camera Market Segmentation
- By Application (Park Assist System, Lane Departure Warning System, Adaptive Cruise Control System, Autonomous Emergency Braking System, Blind Spot Detection, and Others (Pedestrian Detection System, Night Vision Camera, Road Sign Recognition))
- By Technology (Infrared Cameras, Thermal Cameras, and Digital Cameras)
- By View Type (Single View System and Multi Camera System)
- By Vehicle (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle
- By Sales Channel (OEM and Aftermarket)
- By Region (North America, South America, Europe, the Middle East & Africa, and Asia-Pacific)
The Digital Cameras Segment is likely to retain a substantial share of the Global Automotive Camera Market given the developments in digital imaging technology. Digital cameras are well-suited to be used for incidents such as avoidance of collision, lane departure warning, and pedestrian identification due to their ability to function well in diverse driving circumstances, including low light & extreme weather. Overall, the cost-efficiency and versatility of digital cameras are likely to be significant factors in pushing its demand, thus ultimately aiding in the growth of the Global Automotive Camera Market.
North America is set to grab the highest share & dominate the Global Automotive Camera Market. North America boasts of a robust automotive segment along with massive investments by the region’s prominent manufacturers for driver assistance systems & autonomous driving technologies, contributing significantly to the growth of the Automotive Camera Market in the region. Moreover, the region’s Automotive Camera Market’s growth is further led by the extensive presence of major automotive camera manufacturers & technology providers.
Key Players Dominating the Global Automotive Camera Market
Robert Bosch GmbH, Continental AG, Aptiv PLC, Valeo Inc., Autoliv, Inc., Magna International Inc., Mobileye N.V., Stonkam Co., Ltd., Gentex Corporation, Ficosa International S.A., DENSO Corporation, Integrated Micro-electronics, Inc. Panasonic Automotive Systems Europe GmbH, ZF Friedrichshafen AG, Garmin Ltd., etc., and others are some of the major companies holding a substantial share & retaining top spots in the Global Automotive Camera Market.
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