Mexico Automotive Camera Market Overview, 2029

Mexico Automotive Camera Market Overview, 2029

Over the past ten years, Mexico's automotive camera industry has experienced substantial growth, fuelled by the increased integration of advanced driver-assistance systems (ADAS) and the global push for increased vehicle safety. With the move in global trends towards more comprehensive safety systems, such as ADAS, the Mexican market started to adopt more advanced camera technology, such as surround-view cameras, collision avoidance, and lane departure warning systems. By the late 2010s, many new Mexican-built cars, particularly the higher-end versions, came equipped with automobile cameras as standard equipment. Similar to how it affected the whole automotive sector, the COVID-19 epidemic had a significant effect on Mexico's automotive camera market. Early in the pandemic, there was a notable slowdown in the market due to manufacturing halts, supply chain disruptions, and a decline in consumer demand. Production and integration of vehicle cameras were delayed as a result of the temporary closure of numerous manufacturing facilities in Mexico. The pandemic's effects on the economy also resulted in a decline in sales of new cars, which further reduced demand for automotive cameras. Because Mexican automakers are required to adhere to safety requirements, Mexico's participation in international trade agreements, such the USMCA (United States-Mexico-Canada Agreement), has further influenced the adoption of modern safety systems. To strengthen the domestic supply chain and lessen reliance on imports, there has also been a movement to localise the manufacturing of vehicle cameras and related components.

According to the research report, ""Mexico Automotive Camera Market Outlook, 2029,"" published by Bonafide Research, the Mexico automotive camera market is anticipated to add to more than USD 260 Million by 2024–29. The strategic position of Mexico as a major base for automobile manufacturing lends great importance to the automotive camera industry in the nation. Mexico is a global leader in the production and export of automobiles, meeting the needs of both domestic and foreign consumers, such as those in the US, Canada, and Europe. The demand for cars with cameras for lane departure warning, collision avoidance, and parking assistance has increased as international safety regulations become more demanding. The need for cutting-edge technology features in cars and the growing customer awareness of vehicle safety have both contributed to this growth. The concentration of the Mexican auto industry on exporting automobiles to nations with stringent safety laws, like the US, has also aided in the expansion of this sector. First off, incorporating numerous camera systems into cars is becoming more and more important. One such system is surround-view cameras, which provide drivers a thorough picture of their surrounds and improve safety and convenience when driving. The integration of modern technologies, such as artificial intelligence and machine learning, into automotive camera systems to enhance object identification and real-time processing capabilities, is another noteworthy trend. Bosch declared in 2020 that it will be expanding its Aguascalientes factory to produce advanced ADAS camera systems. The increasing need for safety features in automobiles, especially in the export market, prompted this development.

Different view-type cameras, like Rear View, Front View, Side View, and Surround View, are essential for improving driver convenience and vehicle safety in Mexico's automotive camera market. Due to their crucial function in both vehicle safety and regulatory compliance—particularly for vehicles destined for export to nations with strict safety requirements—rear view cameras are the most widely adopted technology in the Mexican market. In Mexico, rear view cameras are the most common form of car camera due to their extensive integration across many vehicle segments. Valeo México is a significant player in the domestic leadership of the automotive camera market. Global auto supplier Valeo has led the way in both development and delivery, and it is well-known in Mexico. Front view cameras are installed in the front of the car and frequently work in tandem with ADAS technologies like collision warning systems. These cameras provide real-time data that can set off alerts or automated braking to stop accidents by assisting in the detection of objects, other cars, and pedestrians in the path of the car. To keep an eye on the car's blind areas, side view cameras are installed on the sides, typically next to the side mirrors. When changing lanes or making turns, these cameras are a crucial component of blind spot detection systems, warning drivers when there are cars or other objects in their blind zones. Even while side view cameras are less popular than rear view and front view cameras, they are becoming more and more popular as automakers place a higher priority on all-encompassing safety solutions.

Vehicle categories such passenger cars, light commercial vehicles (LCVs), electric vehicles (EVs), and heavy commercial vehicles (HCVs) constitute distinct segments in Mexico's automotive camera market with variable degrees of camera system adoption. The market for automotive cameras in Mexico is dominated by passenger cars. Sedans, hatchbacks and SUVs are among these cars; they account for most personal transportation in the nation. Automotive cameras have become widely used in passenger automobiles due to the increased emphasis on vehicle safety and the incorporation of advanced driver-assistance systems (ADAS). Mid-range and luxury passenger cars are increasingly being equipped with Surround View systems, Front View Cameras, and Rear View Cameras. Automakers are giving cameras top priority as consumer demand for safer and more technologically advanced vehicles rises. This is especially true for export-oriented production, where manufacturers must comply with safety standards in regions such as the U.S. and Europe. Compared to conventional internal combustion engine vehicles, the market share of electric vehicles (EVs) is still relatively small, despite their rapid growth. Since EVs in Mexico frequently feature the newest technology to appeal to tech-savvy and eco-conscious buyers, complex camera systems are becoming more and more common on these vehicles. Automakers are reacting to the government's push for sustainability and lower carbon emissions by selling EV models with cutting-edge safety features like collision warning systems and surround view cameras. This surge in EV sales is being driven by these factors. Comparatively speaking, LCV camera integration is less common than in passenger cars because usefulness and economy are frequently prioritised over cutting-edge technology. However, there will likely be a greater need for LCVs with cameras for lane-departure alerts, parking assistance, and accident avoidance as last-mile delivery services and e-commerce grow in Mexico. One of the main competitors in the Mexican market for vehicle camera systems is Tremec, a well-known producer of automotive technology. Tremec is well-known for its advancements in gearbox technology, but it has also branched out into more complex automotive technologies, such as components for automobile cameras.

Several technologies, including digital, infrared, and thermal cameras, are crucial for improving vehicle safety, driving assistance, and the overall driving experience in Mexico's automotive camera market. Because of its ubiquitous integration in a range of vehicle types, cost-effectiveness, and broad applicability, digital cameras are now ruling the Mexican automotive camera industry. For the majority of automobile applications, from straightforward safety features to intricate ADAS features, they are the go-to option. The way infrared cameras work is by picking up infrared radiation, which objects release as heat. Because these cameras can capture images that are invisible to the human eye, they are very helpful in low-light or night-time situations. Infrared and thermal cameras both detect heat, but thermal cameras are more sensitive and provide more detail. Usually, more sophisticated safety systems—like those intended for autonomous driving—use these cameras. Because thermal cameras are sensitive to even minute variations in temperature, they can recognise objects, cars, and people even in total darkness or inclement weather. Despite being quite sophisticated, thermal camera technology is still not widely used in the Mexican automotive industry, mostly because of its higher cost. One well-known local business that is at the forefront of the creation and manufacturing of digital camera systems is Continental AG Mexico.

Advanced Driver-Assistance Systems (ADAS) like Blind Spot Detection, Park Assist, and Collision Avoidance, together with Driver Monitoring Systems, are being incorporated into cars more and more in Mexico's automotive camera market to improve driving ease and safety. The purpose of collision avoidance systems is to either avoid collisions altogether or lessen their effects. Front-view cameras are used by these systems to keep an eye on the road ahead and spot any potential hazards or moving cars. The device can alert the driver and immediately apply the brakes if it senses an impending collision. One of the most important aspects of Advanced Driver Assistance Systems (ADAS) is collision avoidance, which is increasingly seen in new cars in Mexico, especially in high-end and mid-range models. Lane assistance is an essential safety element, particularly on highways where inadvertent lane changes can result in serious collisions. Lane assistance systems are becoming more common in Mexico, especially in passenger cars and light trucks, as manufacturers meet growing consumer demand for cutting-edge safety features. Blind Spot Detection system integration is growing in popularity in Mexico as safety rules tighten, particularly in cars intended for export markets where these features are required. Park Assist Systems help drivers with parking manoeuvres by utilising a combination of cameras, usually rear-view and surround-view. To help the car park securely in confined places, these technologies can direct the vehicle or even give visual guidance. A more recent addition to the ADAS lineup, driver monitoring systems (DMS) use cameras to track a driver's movements, including head and eye positions, in order to identify indicators of fatigue or attention. Even while DMS isn't as common as other ADAS technologies, its significance is rising, particularly in high-end cars.

The OEM (Original Equipment Manufacturer) and Aftermarket sales channels are important market segments in Mexico's automotive camera industry. They each have specific functions and have various effects on the market dynamics. Because of the enormous production quantities of new cars and the incorporation of cutting-edge camera systems as standard equipment, the OEM Sales Channel is dominating the Mexican automotive camera market. Among the top domestic companies in this market is Continental AG Mexico. Continental's strong position in the OEM industry is a result of its numerous collaborations with major automakers as well as its capacity to supply dependable, high-quality camera systems. The company maintains its leading position in providing camera systems for new cars made in Mexico because to its emphasis on innovation and significant investments in regional production facilities. Numerous solutions are available in the aftermarket industry, such as standalone cameras, camera kits, and connection with pre-existing car systems. This channel is typically smaller than the OEM channel, but offering significant development prospects, particularly for retrofitting automobiles with the newest safety systems. A few examples of the elements that impact the aftermarket segment are vehicle age, consumer knowledge, and the availability of appropriate items. While the Aftermarket channel provides flexibility and customisation, it also confronts issues with complex installations and disparate quality standards.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Automotive Camera market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By View Type
• Rear View
• Front View
• Side View
• Surround View

By Vehicle Type
• Passenger Car
• Light Commercial Vehicle
• Electric Vehicles (EVs)
• Heavy Commercial Vehicle

By Technology
• Digital
• Infrared
• Thermal

By Application Type
• ADAS (Lane Assistance, Collision Avoidance, Blind Spot Detection)
• Park Assist System
• Others (Driver Monitoring Systems)

By Sales Channel
• OEMs
• Aftermarket

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Automotive Camera industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.