Automotive Camera Market By Type of Camera (Front View, Rear View, 360° Surround View), Technology (Infrared Camera, Digital Camera), Application (Park Assist Systems, Lane Departure Warning Systems), & Region for 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Automotive Camera Market Valuation – 2024-2031

Automotive cameras are in high demand in the global market. There is a rising emphasis on car safety. Consumer demand for safer automobiles, combined with stringent laws, is pushing the adoption of Advanced Driver Assistance Systems (ADAS) such as lane departure warning and blind spot recognition. These systems rely largely on high-resolution cameras to work properly. The market size surpass USD 9.68 Billion valued in 2023 to reach a valuation of around USD 19.86 Billion by 2031.

Another big factor is the quest for self-driving cars. To navigate their surroundings, self-driving cars must use a set of sophisticated cameras. The growing demand for high-tech cameras is projected to drive the market even further in the approaching years. The rising demand for cost-effective and efficient automotive camera is enabling the market grow at a CAGR of 10.36% from 2024 to 2031.

Automotive Camera MarketDefinition/ Overview

Automotive cameras are advanced image systems built into vehicles to improve safety, navigation, and driver assistance. They include a variety of sorts, such as rearview cameras, forward-facing cameras, and surround-view systems, all of which gather real-time video feeds from various angles surrounding the car. These cameras help in collision avoidance, lane departure warning, and parking assistance by providing drivers with detailed visual information. Furthermore, they are essential to advanced driver assistance systems (ADAS) and autonomous driving technologies, providing important data for interpreting the vehicle’s surroundings.

The breadth of automotive cameras is expected to grow dramatically as technology advances. Improved camera resolutions, image processing methods, and the incorporation of artificial intelligence will result in even more precise and dependable vehicle monitoring. Future advances are likely to focus on expanding these systems’ capabilities, such as enhancing low-light performance, enabling more precise object detection, and supporting the seamless integration of camera data with other sensor inputs. As the automotive industry strives for full automation, automotive cameras will play an important part in realizing the vision of fully autonomous vehicles, resulting in safer and more efficient transportation systems.

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Will the Increasing Vehicle Safety Regulations Drive the Automotive Camera Market?

Increase in vehicle safety regulations are projected to increase the automotive camera market significantly. As laws such as the European New Car Assessment Programme (Euro NCAP) require advanced driver assistance systems (ADAS) for high safety ratings, demand for automotive cameras is increasing dramatically. This has already resulted in a 30% rise in camera installations in new automobiles across Europe between 2020 and 2023. As similar rules are followed globally and the desire for improved vehicle safety continues, the automotive camera market is expected to rise steadily.

Advancements in camera technology are expected to fuel the automotive camera industry. As technical advances in camera sensors and image processing improve capabilities, the average number of cameras per vehicle has increased significantly, from 1.7 in 2018 to 3.1 in 2023. This rise, fueled by advancements such as 360-degree surround view systems and improved night vision, demonstrates a growing desire for better safety and driver-aid technologies. As a result, the automotive camera market is likely to grow as these technologies become more integrated and prevalent in modern vehicles.

Additionally, the integration of modern technology and changing regulatory requirements has already resulted in a significant increase in camera installations, with the average number of cameras per vehicle rising from 1.7 in 2018 to 3.1 in 2023. This tendency suggests that as market demand for greater safety features and technical advances grows, the automotive camera market would likely develop even more, owing to increasing use of advanced camera systems and advancements in vehicle safety technology.

Regulations will have a substantial impact on the automotive camera market. As safety requirements, such as those imposed by the European New Car Assessment Programme (Euro NCAP), require the incorporation of advanced driver assistance systems (ADAS) for higher safety ratings, demand for automotive cameras rises. These laws necessitate the incorporation of increasingly advanced video systems, which raises installation rates and drives market expansion. As worldwide regulatory standards tighten, the automotive camera market is likely to grow further to fulfill these increasing safety requirements.

Category-Wise Acumens

 

Will the Growing Demand for Premium Features Propel the Surround View Cameras Segment in the Automotive Camera Market?

Hey there, car enthusiasts! You've probably noticed how popular surround-view camera systems have become in cars lately. They're pretty much the rockstars of the automotive camera world right now. Why are they so popular? Well, it's all about the awesome safety and convenience features they offer. These systems give you a complete 360-degree view around your car, making it super easy to park and avoid hitting things. Talk about peace of mind! And it's not just about safety anymore. People are demanding more premium features in their cars, and surround-view cameras are definitely on the list. They're just so darn useful. So, the market for these cameras is booming, with no signs of slowing down. As people want more deluxe cars, the demand for surround-view cameras will keep growing and getting better. It's like the next-level driving experience!

The surround view camera segment of the automotive camera market will be driven by increased safety. Surround vision cameras, which provide a 360-degree picture of a vehicle, considerably increase driver safety by allowing them to avoid risks and negotiate tight places more effectively. Demand for such advanced camera systems is projected to rise as the emphasis on vehicle safety grows, driven by both regulatory requirements and consumer expectations. This emphasis on safety will result in increased usage and development of surround view cameras in the automotive camera market.

Will the Technology and Established Supply Chain Raise the Digital Cameras Segment for the Automotive Camera Market?

Digital cameras are the superstars of the automotive camera world right now. They're tech-savvy and have a reliable supply chain, which means they're perfectly positioned to take over this market. As digital cameras get even better, with sharper pictures, faster processing, and more features, cars will need them more and more. And because we've got a supply chain that's ready to go, car manufacturers can easily use digital cameras in their production lines, which saves them time and money. So, thanks to these awesome cameras and the great supply chain behind them, we're going to see digital cameras dominate the automotive camera market in the years to come.

Digital cameras will lead the vehicle camera market due to their versatility and low cost. Digital cameras have a wide range of applications, from basic driver aids to complex safety measures, making them very adaptable to diverse automobile needs. Their cost-effectiveness, resulting from technological breakthroughs and economies of scale, enables broader use across various vehicle categories. As manufacturers strive to strike a balance between high performance and affordability, the versatility and reduced costs of digital cameras are projected to fuel their increased incorporation into automobiles, encouraging the growth of this category in the automotive camera market.

Gain Access into Automotive Camera Market Report Methodology

Country/Region Wise Acumens

Will the Growing Adoption of Advanced Features Enable Asia Pacific Region Lead the Automotive Camera Market?

Hey there! Did you know that the Asia-Pacific region is like the boss of the automotive camera world right now? It's not just because people are buying more cars in Asia. It's also because people want their cars to be smarter and safer. More and more cars are being built with fancy safety features, like those fancy camera systems that help you see all around you. In 2020, only about 30% of new cars in Asia had these cool systems. But by 2023, it's going to be closer to 45%! That's a lot of extra eyes on the road. China is especially on top of things. Over 60% of the new cars there have these camera systems. And in India, people are really into surround view cameras. So, what does this mean for the companies that make these cameras? It means they're going to be busy! The average number of cameras in each car is going from 1.5 to 2.8, which is a big jump. In short, the automotive camera market in Asia is on fire!

High vehicle production will drive Asia-Pacific’s automotive camera market. The region leads global vehicle manufacturing, accounting for 55% of global production in 2023, with major outputs from China, Japan, and South Korea, increasing in demand for automotive components, including cameras. The rise in production, with an average of 280 cameras installed per 100 vehicles in 2023 against 200 in 2020, demonstrates the increasing integration of cameras in vehicles.

Will the Rising Disposable Incomes in the Middle East & Africa Drive the Automotive Camera Market?

Picture thisyour car has become your own personal safety guard! Thanks to fancy cameras, cars in the Middle East and Africa are getting smarter and safer. People in these regions are making more money these days, so they're buying fancier cars with all the bells and whistles. And guess what? Cameras are the new must-have feature. In countries like the UAE and Saudi Arabia, everyone's getting richer, and they're splurging on luxury cars that come with cameras that help you drive safer. In fact, last year, there was an 18% jump in people buying fancy cars with these camera systems. But it's not just the rich folks who want cameras in their cars. Even people buying new cars in Africa are choosing cars with these safety features. After all, who doesn't want to feel a little more secure on the road?

Hey there! You'll be amazed to know that more and more people are falling head over heels for luxury cars in the Middle East and Africa. In fact, sales of these swanky rides are skyrocketing, especially in the Gulf Cooperation Council (GCC) countries, where they've jumped a whopping 15%. Even in Dubai, where luxury cars are everywhere you look, they're still breaking records, making up a bigger and bigger slice of all the new cars on the road. One of the reasons why luxury cars are so popular is because they come loaded with all sorts of fancy camera systems. These cameras help you park like a pro, keep an eye on things behind you, and even navigate your way through tricky traffic. You can expect to see even more cameras in luxury cars in the years to come. On average, these cars have around 3.5 cameras now, but that number is predicted to jump to 5.2 by 2026. So, what does this mean for the automotive camera market in the Middle East and Africa? It means it's about to go into overdrive! With more and more luxury cars on the road, the demand for automotive cameras is going to keep soaring. It's like a snowball rolling down a hill – it's just going to get bigger and faster!

Competitive Landscape

The automotive camera market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the automotive camera market include

Continental AG, Robert Bosch GmbH, Valeo SA, Aptiv PLC, Denso Corporation, Sony Group Corporation, Samsung Electronics Co., Ltd., OmniVision Technologies, Inc., STMicroelectronics NV.

Latest Developments

  • In February 2024, VIA Optronics AG signed a contract with Immervision Inc. to design and develop VIA’s Next Generation Automotive Camera. Under the agreement, VIA would collaborate with Immervision to create a specialized lens technology for customizing and manufacturing external automobile cameras.
  • In January 2024, Eyeris Technologies, Inc. and Leopard Imaging, Inc. announced a collaboration on a production reference design to increase safety and comfort throughout the automotive cabin. The agreement will facilitate the co-development of an advanced monocular three-dimensional (3D) sensing AI software algorithm for Leopard Imaging’s 5-megapixel (MP) backside illuminated (BSI) global shutter (GS) camera for 3D in-cabin surveillance systems.
  • In April 2023, Ford announced the U.K. debut of BlueCruise, a Level 2 ADAS for hands-free driving. BlueCruise, a development of Ford’s Intelligent Adaptive Cruise Control, enables vehicles to keep up with traffic while remaining below legal speed limits. It also assists in detecting and tracking the position and speed of other vehicles on the road via radar and automotive cameras.
  • In April 2023, OmniVision and AVIVA Links Inc. committed to collaborate on automobile camera systems based on automobile SerDes Alliance (ASA) requirements, beginning. The program brings together AVIVA’s connection technologies and OmniVision sensor technology to enable and power the next generation of intelligent, connected, and autonomous vehicles.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2018-2031

Growth Rate

CAGR of ~10.36% from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Type of Camera
  • Technology
  • Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

Continental AG, Robert Bosch GmbH, Valeo SA, Aptiv PLC, Denso Corporation, Sony Group Corporation, Samsung Electronics Co., Ltd., OmniVision Technologies, Inc., STMicroelectronics NV.

Customization

Report customization along with purchase available upon request

Automotive Camera Market, By Category

Type of Camera

  • Front View
  • Rear View
  • Side View
  • Interior
  • 360° Surround View

Technology

  • Infrared Camera
  • Digital Camera
  • Thermal Camera

Application

  • Park Assist Systems
  • Lane Departure Warning Systems
  • Collision Avoidance Systems
  • Blind Spot Detection
  • Lane Keep Assist
  • Road Sign Assistance
  • Adaptive Cruise Control (ACC)
  • Intelligent Headlight Control

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

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