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

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.

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?

The 360° surround-view camera system is currently the dominating segment in the automotive camera market. The rising demand for premium features is expected to propel the surround-view cameras segment of the automotive camera market. As consumers want more advanced safety and convenience features in their vehicles, the popularity of surround view systems, which provide a thorough 360-degree picture of the vehicle, is expanding. These technologies provide increased parking assistance and collision avoidance capabilities, which are in line with consumer preferences for premium amenities. As a result of the growing desire for high-end car services, the market for surround-view cameras will continue to grow and innovate.

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 currently hold the leading position in the automotive camera market. Technological advancements and a stable supply chain will drive the digital camera component of the automotive camera market. As digital camera technology advances, giving higher resolutions, faster image processing, and increased functionality, the need for these advanced systems in automobiles grows. Furthermore, a well-established supply chain ensures that digital cameras may be effectively incorporated into automotive manufacturing processes, hence promoting scalability and cost-effectiveness. This combination of technological innovation and strong supply chain infrastructure is projected to accelerate the growth and adoption of digital cameras in the automotive camera market.

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?

The Asia-Pacific region currently holds the dominant position in the automotive camera market. The Asia-Pacific automotive camera market will be driven by the rising adoption of enhanced features. The increase in demand for automobiles equipped with modern safety and convenience technology is clear, with the installation rate of modern Advanced Driver Assistance Systems (ADAS) rising from 30% in 2020 to 45% in 2023 across major Asian-Pacific markets. Notably, over 60% of new passenger vehicles in China and a strong interest in surround view camera systems among new car buyers in India demonstrate this trend. As consumer demand for advanced features grows, the average number of cameras per car in the region is increasing from 1.5 in 2020 to 2.8 in 2023, highlighting automotive cameras’ rising significance as a result of these advancements.

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?

The Middle East & Africa region is experiencing the fastest growth in automotive cameras. Rising disposable incomes will propel the automotive camera market in the Middle East and Africa. Consumer spending power is increasing as the region’s economy grows, with considerable gains in per capita and household income in nations such as the UAE and Saudi Arabia. This economic prosperity is driving up demand for luxury vehicles with innovative technologies like camera-based driver aid systems. This trend is reflected in the 18% increase in sales of luxury vehicles equipped with ADAS in 2023, as well as the growing preference for advanced safety features among African new car buyers.

The growing preference for luxury vehicles will propel the automotive camera market in the Middle East and Africa. Premium and luxury vehicle sales are increasing significantly in the area, with GCC countries seeing a 15% increase and luxury cars accounting for a higher share of new registrations in Dubai. Luxury vehicles frequently come equipped with many advanced camera systems, resulting in a significant growth in demand for automotive cameras. The average number of cameras in a luxury vehicle is expected to increase from 3.5 in 2023 to 5.2 by 2026. This trend indicates the increased integration of advanced camera systems into premium automobiles, which is propelling the automotive camera market in the Middle East and Africa.

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

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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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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