Automotive Camera Market Forecasts to 2028 – Global Analysis By Camera Type (Sensing Camera, Viewing Camera and Other Camera Types), Level Of Autonomy (L1 Camera Units, L2 & L3 Camera Units, L4 Camera Units, L5 Camera Units and Other Levels Of Autonomy),

Automotive Camera Market Forecasts to 2028 – Global Analysis By Camera Type (Sensing Camera, Viewing Camera and Other Camera Types), Level Of Autonomy (L1 Camera Units, L2 & L3 Camera Units, L4 Camera Units, L5 Camera Units and Other Levels Of Autonomy), Vehicle, Technology, Application and By Geography

According to Stratistics MRC, the Global Automotive Camera Market is accounted for $14.31 billion in 2022 and is expected to reach $27.94 billion by 2028 growing at a CAGR of 11.79% during the forecast period. An automotive Camera is a rear-view system that makes reversing easier by monitoring the real-time environment and recommending the steering angle. It enhances the driver’s field visibility to spot the obstacles. The cameras are installed in the front, rear, side and interior of the vehicle. They are installed in order to enhance the safety of pedestrians, bicyclists and children. They are launched to reduce the road accidents. Automotive cameras consist the real time recorder video which can be used as proof for legal protection and to claim insurance.

According to the World Health Organization (WHO), around 1.3 million people die each year in road accidents. So, the National Highway Traffic Safety Administration (NHTSA) made it mandatory to equip all vehicles with cameras integrated with rear view visibility system.

Market Dynamics:

Driver:

Government initiatives related to vehicle safety

Government made it mandatory for manufacturers to opt for advanced safety technologies. Stringent safety norms have been forced for the OEMs and Tier-1 manufacturers. Government had focused mainly on emergency braking and lane departure warning. The revised regulations mandate all vehicles to be equipped with safety features such as speed assistance, emergency stop signals and reversing detection system which is fuelling the growth of the market.

Restraint:

High cost of implementation

The automotive multi camera systems have witnessed several innovations and technological enhancements. It comprises many complex connections and wiring. It involves additional costs due to advanced features. The consumer must replace the whole camera system which means incurring huge cost. This poses a big threat to the consumers economy which is hindering the market growth.

Opportunity:

Development of autonomous vehicle

With advancements in 5G technology, autonomous vehicles are making great strides towards reality. Major automobile companies have been trying to achieve true autonomous driving by increasing the productivity. It promises overall safer roads, alleviated traffic congestion, cleaner and more efficient operation. They transform the norms of passenger transit, freight and home delivery which are propelling the market growth.

Threat:

Constraints in real time image processing

The architecture of multi camera systems is based on integrated digital signal processing units. This operates in a particular order set by the programmed algorithm. The system faces major difficulty in extracting various views from inputs of display in short time. Gathering data from different cameras and translating it into a single image involves significant risk of quality and creates barriers for real time steaming of video and hampering the growth of the market.

Covid-19 Impact

The pandemic has affected the automotive camera industry growth drastically. This sector has faced the heat amid a sharp decline in production and sales of vehicles. Due to the suspension of production, major manufactures faced huge loss. The prices of raw materials have been increased and affected the cross border trades. The post pandemic started again the slow rise in the demand of the automotive market and the automotive camera market is also started growing.

The Sensing cameras segment is expected to be the largest during the forecast period

The Sensing cameras segment is estimated to have a lucrative growth, due to its higher level of performance. They are gradually becoming an integral part of an active safety system in vehicles. They attribute to the increase in safety concerns of the passengers by remote sensor. Their high quality maintaining standards and cost-effective solutions are witnessing an anticipated growth in the market.

The passenger segment is expected to have the highest CAGR during the forecast period

The passenger segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing adoption of ADAS features. It is the largest vehicle segment in automotive industry and it is the most promising market for active safety systems. The cameras in passenger vehicles include backup cameras, dash cameras, surround view cameras and ADAS cameras which are propelling the growth of the market.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to increase in awareness about vehicle safety. The government in this region initiated many awareness programmes for young automobile buyers for their safety. This was primarily ascribed to the rise in sales of vehicles featuring ADAS capabilities. This region has a huge increase in sales of premium and luxury vehicles which is fueling the demand for automotive driving cameras.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to the large presence of automobile manufacturing industries. This region is dominated with its widespread adoption in light commercial vehicles such as pickup trucks and robust demand for rear-view enhancement cameras in the mid-sized passenger cars. This region is anticipated to grow at a faster rate which is boosting the demand for new automotive camera modules.

Key players in the market

Some of the key players profiled in the Automotive Camera Market include Continental AG, Brigade Electronics, Panasonic Corporation, Kappa Optronics Gmbh, Gentex Corporation, ZF Friedrichshafen, Robert Bosch GmbH, Hitachi Astemo LTD, DELPHI Automotive PLC, HYUNDAI MOBIS, DENSO Corporation, Clarion Co Ltd, Gramin Ltd, Aptiv plc, Omnivision Technologies Inc, Autoliv Inc, Mobileye, Magna International Inc., Valeo SA, Automated Engineering INC, FICOSA International, Ambarella, Ricoh

Key Developments:

In February 2022, Brigade Electronics announced the launch of a new AI (Artificial Intelligence)-based commercial vehicle safety system called CAREYE - “Safety Angle Turning Assistant” in countries across Europe such as the U.K., France, Poland and the Netherlands.

In September 2021, Gentex Corporation announced the acquisition of Guardian Optical Technologies, an Israel-based start-up that pioneered a unique, multi-modal sensor technology that is designed to provide a comprehensive suite of driver- and cabin-monitoring solutions for the automotive industry.

Camera Types Covered:
• Sensing Camera
• Viewing Camera
• Other Camera Types

Levels Of Autonomy Covered:
• L1 Camera Units
• L2 & L3 Camera Units
• L4 Camera Units
• L5 Camera Units
• Other Levels Of Autonomy

Vehicles Covered:
• Commercial Vehicles
• Passenger Vehicles
• Economic Vehicles
• Luxury Vehicles
• Mid-Priced Vehicles
• Other Vehicles

Technologies Covered:
• Infrared
• Digital Camera
• Thermal
• Monocular
• Stereo
• Other Technologies

Applications Covered:
• Parking Assist
• ADAS
• Lane Departure Warning
• Night Vision
• Adaptive Cruise Control
• Road Sign Recognition
• Pedestrian Detection
• Blind Spot Detection
• Driver Monitoring
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements