Market Size of India Automotive Camera Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Automotive Camera Market Analysis
India automotive camera market is expected to register a CAGR of 15%, during the forecast period, 2020-2025.
- Increase in demand for automobiles, increasing concern for safety among customers, mandatory government norms, advanced innovations, rapid adoption of ADAS, and availability of low-cost parking cameras and sensors in the aftermarket are some of the major drivers of growth of Automotive Camera market.
- However, the high cost of the module has been slightly hindering the market growth. ADAS like Adaptive cruise control (ACC), Forward Collision Warning System (FCWS), and Automatic Emergency Braking (AEB) requires 3 to 6 cameras to be installed on the vehicle. These cameras in an automotive cost almost 8 times the module in a mobile phone camera, making it a challenge for entry into the market.
- Thermal camera and multi camera systems are expected to exhibit the highest growth rate in sensing camera and application segments during the forecast period.
- Latest advancements in the camera technology such as 360 degrees camera that stitch the images from multiple cameras and display a consolidated image on split screen and mass production of these units are expected to bring down the price drastically, creating a scope of venture in the sector.
- India and China are emerging as automotive part manufacture hubs and suppliers for the western automakers, and this is expected to drive the market for cameras in the Asia-Pacific region over the coming five years. China's automotive camera market is expected to grow at a CAGR of 19.62% till 2022.
India Automotive Camera Industry Segmentation
India automotive camera market covers the latest trends and technological development in the automotive camera market, demand for the vehicle type, camera type, application type, and share of major players.
| Vehicle Type | |
| Passenger Vehicle | |
| Commercial Vehicle |
| By Type | |
| Viewing Camera | |
| Sensing Camera |
| By Application | |
| Advanced Driver Assistance Systems | |
| Parking |
India Automotive Camera Market Size Summary
The Indian automotive camera market is poised for significant growth, driven by increasing automobile demand, heightened safety concerns, and stringent government regulations. The rapid adoption of Advanced Driver Assistance Systems (ADAS) and the availability of cost-effective parking cameras and sensors in the aftermarket are key factors propelling market expansion. Despite the high cost of automotive camera modules posing a challenge, advancements in camera technology, such as thermal and multi-camera systems, are expected to drive growth in these segments. The emergence of India and China as manufacturing hubs for automotive parts is anticipated to further boost the market in the Asia-Pacific region, with India playing a crucial role in supplying components to Western automakers.
The integration of camera systems in vehicles as part of active safety systems is becoming increasingly prevalent, offering superior performance and cost-effective solutions. The growing adoption of ADAS features is significantly increasing the demand for automotive cameras. Despite a decline in automotive sales in 2019, the market is expected to recover and grow, supported by rising disposable incomes and the introduction of parking assist systems in mid and small segment cars. The presence of numerous equipment manufacturers in India, achieving economies of scale, contributes to the market's expansion. The Indian automotive camera market is highly fragmented, with major players like Garmin Ltd, Panasonic Corporation, and Continental AG capturing significant market shares through strategic collaborations and innovative product offerings.
India Automotive Camera Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Drivers
-
1.2 Market Restraints
-
1.3 Porters Five Force Analysis
-
1.3.1 Threat of New Entrants
-
1.3.2 Bargaining Power of Buyers/Consumers
-
1.3.3 Bargaining Power of Suppliers
-
1.3.4 Threat of Substitute Products
-
1.3.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Vehicle Type
-
2.1.1 Passenger Vehicle
-
2.1.2 Commercial Vehicle
-
-
2.2 By Type
-
2.2.1 Viewing Camera
-
2.2.2 Sensing Camera
-
-
2.3 By Application
-
2.3.1 Advanced Driver Assistance Systems
-
2.3.2 Parking
-
-
India Automotive Camera Market Size FAQs
What is the current India Automotive Camera Market size?
The India Automotive Camera Market is projected to register a CAGR of 15% during the forecast period (2024-2029)
Who are the key players in India Automotive Camera Market?
Garmin Ltd, Continental AG, Panasonic Corporation , Magna International Inc and Bosch Mobility Solutions are the major companies operating in the India Automotive Camera Market.
