Africa & Middle-East Automotive Camera Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Africa & Middle-East Automotive Camera Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The automotive camera market is expected to register a CAGR of 15.83%, during the forecast period, 2020-2025.

Key Highlights

• 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 aftermarket are some of the major drivers of growth of Automotive Camera market.
• However, 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.

Key Market TrendsSensing Camera to Witness the Fastest Growth

Systems using cameras for remote sensing are gradually becoming an integral part of an active safety system in vehicles. Sensing cameras provide a higher level of performance than general-purpose driving cameras, while also meeting the required automotive quality standards as cost-effective solutions. These are intelligent safety systems with two key components: the remote sensors (using remote sensing technologies) and the processing computer. A remote sensor is a device that collects data about real-world conditions through sensors, such as radar, ultrasonic sensors, and cameras. The processing computer receives data from these cameras and sensors then make the decision and sends commands to the vehicle subsystems.

With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. Owing to the aforementioned trends, the number of automotive camera shipments is expected to exceed 170 million units in the global market by 2020 and the ADAS camera market is expected to cross USD 7 billion by 2021.

South Africa market has the fastest growth rate

Africa And The Middle East region comprises of geographies such as UAE, South Africa, Morocco, Saudi Arabia where the disposable income of customers is increasing. Despite the aforementioned factor, automotive sales (especially passenger cars) have declined in 2019 but the market is expected to show a good growth rate in the coming years. In Africa And Middle East, the ADAS market is exhibiting a growth rate of 20.01% due to a faster adoption rate among customers. Various OEMs are now introducing parking assist systems (earlier installed in luxury segment cars only) in mid and small segment cars to create a point of differentiation from other OEMs. Another factor that is boosting the growth of the automotive camera market is the presence of a large number of equipment manufacturers in the region. Manufacturers have achieved economies of scale and are producing devices at a cheaper rate. There are numerous active players in the aftermarket.

Competitive Landscape

The Africa And Middle East Automotive Camera Market market is highly fragmented, due to the presence of many regional players. However, some of the major players, like Garmin Ltd, Panasonic Corporation, Continental AG, Autoliv Inc., and Magna international, among others, have captured significant shares in the market. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability. For instance, in January 2018, Garmin, with support from Amazon Alexa, has launched Garmin Speak Plus, by adding a built-in dash camera to its innovative Garmin Speak.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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