Market Size of Automotive Camera Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Camera Market Analysis
The Automotive Camera Market was valued at USD 7.81 billion and is expected to reach USD 15.74 by 2027, registering a CAGR of above 12% during the forecast period (2022 - 2027).
The COVID-19 pandemic hindered the growth of the market as suspension of vehicle production, and supply disruptions brought the automotive industry to a halt. However, the automotive camera market started gaining momentum owing to the mandates by different countries. Furthermore, the development of new technologies like night vision systems, cruise control systems, etc., and growing e-mobility drive demand in the market.
In addition, factors such as increasing penetration of safety systems in vehicles and a high degree of competition among vendors for providing value-added services and products that cater to customer needs are likely to contribute to enhanced development in the market. However, high installation costs and malfunctioning camera components like sensors, modules, etc., are projected to act as potential challenges over the forecast period.
North America is expected to dominate the automotive camera market, owing to the increasing demand for luxury vehicles in the United States and Canada. The increasing installation of advanced driver-assistance systems (ADAS) is estimated to further boost the demand for automotive cameras in the coming years. Europe and the Asia-Pacific region are likely to hold a prominent share in the market due to the presence of many automobile manufacturers in the region.
Automotive Camera Industry Segmentation
An automotive camera is installed on the front side, rear side, or inside a vehicle for safety purposes. Camera modules contain image sensors that are coupled with electronic components in vehicles. The automotive camera market report covers the latest trends, COVID-19 impact, and technological developments in the market.
The scope of the report covers segmentation based on vehicle type, type, technology, applications, and geography. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By type, the market is segmented into viewing cameras and sensing cameras. By technology, the market is segmented into digital cameras, infrared, and thermal.
By application, the market is segmented into ADAS, parking assist, and other applications. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, the market sizing and forecast are based on value (USD billion).
| Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| Type | |
| Viewing Camera | |
| Sensing Camera |
| Technology | |
| Digital Camera | |
| Infrared | |
| Thermal |
| Application | |
| ADAS | |
| Parking Assist | |
| Other Applications |
| Geography | |||||||
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Automotive Camera Market Size Summary
The automotive camera market is experiencing significant growth, driven by the increasing adoption of advanced driver-assistance systems (ADAS) and the rising demand for safety and convenience features in vehicles. The market's expansion is further fueled by technological advancements such as night vision and cruise control systems, alongside the growing trend of e-mobility. Despite challenges like high installation costs and potential malfunctions in camera components, the market is poised for robust development. North America is expected to lead the market, supported by the demand for luxury vehicles and the installation of ADAS in both commercial and passenger vehicles. Europe and the Asia-Pacific regions are also anticipated to hold substantial market shares due to the presence of numerous automobile manufacturers and the rapid industrialization in countries like China and India.
The automotive camera market is characterized by a high degree of fragmentation, with numerous regional players and significant contributions from major companies like Garmin Ltd, Panasonic Corporation, and Bosch Mobility Solutions. These companies are actively engaging in strategic collaborations to enhance their market presence and profitability. Innovations such as OmniVision's advanced image sensors and Continental's camera systems for automated driving are indicative of the industry's focus on integrating cutting-edge technology to meet evolving consumer demands. The market's growth is also supported by regulatory mandates in regions like Europe, which require the installation of safety technologies in vehicles, further driving the demand for automotive cameras.
Automotive Camera Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining power of suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Vehicle Type
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2.1.1 Passenger Vehicles
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2.1.2 Commercial Vehicles
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2.2 Type
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2.2.1 Viewing Camera
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2.2.2 Sensing Camera
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2.3 Technology
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2.3.1 Digital Camera
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2.3.2 Infrared
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2.3.3 Thermal
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2.4 Application
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2.4.1 ADAS
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2.4.2 Parking Assist
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2.4.3 Other Applications
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Rest of North America
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 France
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2.5.2.3 United Kingdom
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2.5.2.4 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 India
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2.5.3.3 Japan
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2.5.3.4 South Korea
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2.5.3.5 Rest of Asia-Pacific
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2.5.4 Rest of the World
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2.5.4.1 South America
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2.5.4.2 Middle-East and Africa
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Automotive Camera Market Size FAQs
What is the current Automotive Camera Market size?
The Automotive Camera Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)
Who are the key players in Automotive Camera Market?
Garmin Ltd, Continental AG, Panasonic Corporation, Magna International Inc. and Bosch Mobility Solutions are the major companies operating in the Automotive Camera Market.
