Automotive Camera Market is Likely to Garner a Healthy CAGR by Forecast 2023
Video Cameras Sales, Service, & Repair
Updated on Nov 15, 2019
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The global automotive camera market is expected to grow at approx. USD 19 Billion by 2023, at 19% of CAGR between 2017 and 2023. The market is segmented on the basis of camera type, vehicle type, application and geographically. The vehicle type comprises of passengers cars, commercial vehicles among others. The market for sensing cameras is expected to grow at a faster rate during the forecasted period. This could be accounted to the higher scope of application of these cameras in the advanced driver assistance systems. The market for cameras in passenger cars dominated the overall automotive market. High requirement of the product primarily in the passenger cars is expected to improve industry size.
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The prominent players in over the automotive camera market are – ADA-ES Inc. (U.S.), Allied Vision Technologies (Germany), Balluf (Germany), Basler AG (Germany), Autoliv, Inc (Sweden), Delhi Automotive PLC (U.K.), Denso Corporation (Japan), Robert Bosch GmBH (Germany), Valeo S.A. (France), TRW Automotive (U.S.) among others
The global market for automotive cameras is segmented on the basis of types of cameras, applications, and vehicles.
The types of cameras available in the global automotive market include infrared, digital, and thermal, among others. The wide range of applications of automotive cameras consists of adaptive cruise control, blind-spot detection, driver monitoring, lane departure warning, night vision, park assist system, pedestrian detection, road sign recognition, among others.
The types of vehicles operating in the market are passenger vehicles and commercial vehicles.
- Technology investors
- Integrated device manufacturers (IDMs)
- Wearable electronics technology platform developers
- Original equipment manufacturers (OEMs)
- Smart grid integrators
- Surface mount component device distributors and providers
- Research/Consultancy firms
The regional analysis of automotive camera market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World.
It has been observed that North America would be dominating the automotive camera market owing to high speed connectivity. Europe is also prominent market for product and will show immense growth in the installation of safety technologies in the passenger cars in Germany, UK, France, and Italy.
Asia Pacific will witness significant growth mainly in China, India, Japan, Thailand, Malaysia and South Korea in light of rapid industrialization along with increasing number of automobile production. In addition, rising disposable income along with high standard of living of the consumers will propel growth of automotive camera market.
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September 2019: Foresight Autonomous Holdings, a leading provider of automotive vision systems, signed a strategic collaboration agreement with a Chinese corporation, Wuhan Guide Infrared, for the development, distribution, and marketing of Foresight’s products along with integrating Guide Infrared’s solutions.
September 2019: Hitachi Automotive Systems, leading Japanese market player, announced that its stereo camera, which enabled the detection of pedestrians at night, was implemented by Suzuki, a global automotive giant, for its Carry light-duty pickup truck. Hitachi stated that the Carry was the first light pickup truck with a stereo camera night-time detection ability.
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