The Business Research Company’s report on the Automotive Camera Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the automotive camera market’s growth in recent years?
An increase in the number of road fatalities is expected to propel the growth of the automotive camera market going forward. Any person killed or dying within 30 days as a result of a road injury accident is considered a road fatality. The vehicle camera systems include an accelerometer and g-sensor, as well as GPS tracking and motion detection, which allow for the identification of a wide range of safety-related incidents, such as extremely sharp braking or turning, and crashes. To allow for early viewing, the system immediately uploads footage from before and after the incident. For instance, in June 2024, according to a report published by the Road Safety Wales 2024, a UK-based professional non-profit organization, in 2023, police forces in Wales reported 4,348 road casualties, marking a 2% increase compared to 2022.
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How does the future projection of the automotive camera market size compare to its historical growth?
The automotive camera market size has grown rapidly in recent years. It will grow from $9.9 billion in 2024 to $11.07 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to growing emphasis on vehicle safety, adoption of advanced driver assistance systems (ADAS), increasing regulatory requirements for rearview and surround-view cameras, rise in demand for parking assistance systems and collision avoidance, integration of cameras in autonomous vehicle development.
The automotive camera market size is expected to see rapid growth in the next few years. It will grow to $17.53 billion in 2029 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to expansion of the connected car ecosystem, growing adoption of 360-degree camera systems, increased use of cameras in commercial vehicles for fleet management, growing demand for advanced safety features, growing demand for shared mobility. Major trends in the forecast period include integration of artificial intelligence (AI) and machine learning, development of high-resolution and low-light performance cameras, customization of camera systems for specific vehicle models and applications, collaboration between automakers and technology providers for innovative camera solutions, use of cameras for augmented reality (AR) displays and enhanced driver assistance features.
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Which key players are shaping the future of the automotive camera market?
Major companies operating in the automotive camera market include Continental Automotive GmbH, Robert Bosch GmbH Mobility Solutions, Valeo SA, Aptiv PLC, Magna International Inc., Mobileye NV, OmniVision Technologies Inc., ZF Friedrichshafen AG, Denso Corporation, Hella GmbH & Co KGaA, Ficosa International SA, Basler AG, Autoliv Inc., Ricoh Company Ltd., Garmin Ltd., Ambarella Inc., Aisin Seiki Co Ltd., Renesas Electronics Corporation, Clarion Co Ltd., Valeo Vision Systems, Aptina Imaging Corporation, Hyundai Mobis Co Ltd., Lear Corporation, Magneti Marelli, Seeing Machines Ltd., Sony Corporation, Samsung Electronics Co Ltd., Panasonic Corporation, NXP Semiconductors NV, STMicroelectronics NV
What trends will propel the growth and evolution of the automotive camera market?
Major companies operating in the automotive camera market are focusing on developing new technological solutions, such as hot-pluggable GMSL automotive HDR cameras to enhance image quality and performance in various driving conditions while also improving ease of installation and system integration. A hot-pluggable GMSL automotive HDR camera is a high-performance vehicle camera that can be connected without powering down and uses Gigabit Multimedia Serial Link for fast data transmission. For instance, in October 2024, e-con Systems, a US-based OEM camera solution provider, launched the STURDeCAM34, the world’s first hot-pluggable GMSL automotive HDR camera, featuring a 3MP resolution and advanced 140 dB HDR capability. This innovative camera allows for seamless connection and disconnection without system downtime, making it ideal for complex automotive applications. It incorporates Onsemi’s AR0341AT CMOS image sensor and includes features such as LED flicker mitigation, multi-camera synchronization (supporting up to eight cameras), and a robust IP69K rating for durability in harsh environments.
Which regions are expected to become dominant players in the automotive camera market?
Asia-Pacific was the largest region in the automotive camera market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the automotive camera market, and how are they evolving?
The automotive camera market covered in this report is segmented –
1) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By View Type: Single View System, Multi Camera System
3) By Technology: Digital Cameras, Infrared Cameras, Thermal Cameras
4) By Application: Park Assist, Advanced Driver-Assistance Systems
Subsegments:
1) By Passenger Vehicle: Compact Cars, Sedans, SUVs, Hatchbacks, Luxury Vehicles
2) By Light Commercial Vehicle: Vans, Pickup Trucks, Minibuses
3) By Heavy Commercial Vehicle: Buses, Trucks, Trailers
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What defines the structure and scope of the automotive camera market?
An automotive camera refers to a camera that is used to capture high-quality video and images to increase visibility and ensure driver safety. Automotive cameras are often implanted with cutting-edge computer vision algorithms for true machine vision systems, which can delay the vital data needed for driver assistance. These cameras help the driver with easy parking, better performance, and quality to support customers for safer and more comfortable driving.
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