Global Automotive Camera Market to Grow at a (CAGR) of 9.9% during the Forecast Period 2022-2030

Nov-2022 | Automobile

As specified in our exclusive report, the Global Automotive Camera Market is projected to reach USD 25 billion by 2030.

Rapid urbanization has led to a shortage of parking spaces, resulting in increased adoption of park assist systems to save drivers time and effort. Moreover, the need for better safety and security while using tight parking spaces and reducing the frustrations of parallel parking is likely to increase the deployment of park assist systems in vehicles, which is expected to boost the revenue of this segment during the forecast period.

Owing to the growing need to maintain a safe distance from the predecessor vehicles, the Adaptive Cruise Control (ACC) system segment is expected to register a fairly rapid CAGR during the forecast period. The cameras used in automobiles are designed to increase the field visibility of the driver to capture HD video and overcome various obstacles. In recent years, automotive cameras have become one of the most important components in vehicles as they are integrated with advanced driver assistance systems (ADAS). This integration plays an important role as they detect obstacles located in the blind spot area of the vehicle. The cameras are installed at the front, side, rear, and interior of the vehicle.

In early 2020, the Covid-19 pandemic affected the growth of the automotive camera industry. The pandemic has severely disrupted the global automotive industry.

Which Region Holds the Largest Share?

Asia Pacific region is projected to be the fastest-growing market during the forecast period. Hybridization and electrification of vehicles, increasing production of electric vehicles, and increasing sales of passenger vehicles are the major factors driving the automotive camera market in the Asia Pacific region.

September 2021: Gentex Corporation announced the acquisition of Guardian Optical Technologies, an Israel-based startup that pioneered a unique, multi-modal sensor technology designed to provide a comprehensive suite of the driver- and cabin-monitoring solutions for the automotive industry. The suit is designed to provide.

Some of the key players in the automotive camera market are:

AMBARELLA, Aptiv plc, Autoliv Inc., Automated Engineering INC (AEI), Brigade Electronics, Clarion Co., Ltd., Samvardhana Motherson Reflected, Sony Group Corporation, STONKAM CO. LTD, Valeo S.A, VEONEER, ZF, Continental AG, Denso Corporation, FAURECIA, FICOSA International, FLIR SYSTEMS, Gentex Corporation, Hella KGaA Hueck & Co., Hitachi Astemo LTD, HYUNDAI MOBIS, Omnivision Technologies Inc., Panasonic Corporation, Robert Bosch GmbH, Samsung Electro-Mechanics, Kyocera Corporation, Magna International In, MCNEX CO, MOBILEYE and Others.

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