The global automotive camera market is growing pervasively; mainly due to the augmenting demand for improved safety and visibility driven by the growing rates of accidents occurring due to the limited vision of drivers. Also, the increasing demand for sleeker looks and improved fuel efficiency of vehicles will foster the market growth. Simultaneously, the increasing per capita income is escalating the market to the ascended heights, bringing up more technological advancements.
Acknowledging the increasing size of the market, the research firm, Market Research Future (MRFR) in its recently published study report asserts that the already booming, global Automotive Camera Market will reach approximately 19 Bn. USD by 2023 with a 19% CAGR over the forecast period(2017-2023).
Additional factors such as the growing influence of new car assessment program (NCAP) and the rising demand for luxury vehicles will substantiate the market growth further. The widening scope of application of sensing cameras in the advanced driver assistance systems will propel the market growth.
On the other hand, the rising prices of vehicles along with the high costs incurred in the design & testing phase is projected to impede the market growth over the anticipated period. Nevertheless, the dominant demand for these cameras in the overall automotive market is expected to fuel the growth of the market.
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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
Automotive camera market can be segmented on the basis of following:
By Camera Type:
- Digital camera
- Thermal camera
- Infrared camera
By Vehicle Type:
- Passengers car
- Commercial vehicles
By Application Type:
- Lane Departure Warning
- Adaptive Cruise Control
- Blind Spot Detection
- Park Assist System
- Night Vision
- Pedestrian Detection
- Road Sign Recognition
- Driver Monitoring
- North America
- Asia Pacific
- Rest of World
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.
September 12, 2018: Lexus (Japan), the luxury vehicle division of automaker, Toyota announced the launch of digital outer mirrors (camera-based mirrors), calling it the world’s first application of such kind. These camera-based mirrors will replace the traditional side mirrors with sleek digital cameras which will improve safety, visibility, and cabin solitude.
The idea has long been proposed by stylists and engineers wanting sleeker looks and improved safety; this will also improve a vehicle’s fuel efficiency because the camera setups have lower wind resistance. Releasing these camera-based mirrors in Japan on the ES model, the automaker will review the market feedback before determining to the expansion of the system to the nameplates.
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- 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
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