Automotive Camera Market: Emerging Trends Boosts the Global Industry Growth
A report recently collated by Transparency Market Research (TMR) has profiled key companies supporting growth of the automotive camera market worldwide. These market players include Media Data Systems Pte Ltd., Robert Bosch GmbH, Delphi Automotive LLP, Valeo Inc., KYOCERA Corporation, Transcend Information Inc., Ficosa International S.A., Continental AG, Qrontech Co. Ltd., Autoliv Inc., and Ambarella.The report projects the global automotive camera market to exhibit an impressive CAGR through the forecast period (2017-2026). Growing demand for various cameras such as digital camera, infrared camera, and thermal camera in passenger cars and commercial vehicles is expected to pave immense industry potential. Automotive camera sales across the globe are estimated to account for approximately US$ 4,800 Mn revenues by 2026-end.
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With slowdown in the global economic growth, several industrial sectors suffered stagnancy and automotive camera industry was no exception. Yet, it still has maintained a relatively optimistic expansion over the recent years. Growth of the global automotive camera market is primarily being fuelled by surging demand for complementary metal-oxide semiconductor image sensors (CMOS image sensors). These sensors deliver an improved experience by providing a broad-angle view of the surroundings. In addition, there has been a tremendous surge in adoption of safety solutions, particularly the driver assistance & safety systems such as lane departure warning system (LDWS), blind spot detection system (BSD), forward collision warning system (FCW), head-up displays, and pedestrian protection. Furthermore, shifting focus of automotive manufacturers toward replacing side-view mirrors with cameras will buoy expansion of the automotive cameras market in the upcoming years.
Asia-Pacific excluding Japan (APEJ) and Europe are anticipated to remain the most profitable markets for automotive camera. The market in North America is projected to register a relatively slower expansion than in APEJ and faster than in Europe through 2026. Revenues from automotive camera sales in North America will also account for a significant market share by 2026-end. In contrast, automotive camera market in Middle East & Africa (MEA) and Latin America will account for the lowest revenue shares of the market throughout the forecast period.
Rear-view enhancement and corner-view cameras are projected to remain dominant among products in the automotive camera market, in terms of revenues. Although revenues from side-view cameras will account for the smallest market share, these cameras are expected to lead the market in terms of sales expansion through 2026, followed by corner-view cameras.
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Compact passenger cars are anticipated to remain the most lucrative among vehicles in the global automotive camera market, followed by mid-sized passenger cars. Light commercials vehicles are also expected to gain ample revenue share of the market by 2026-end. On the other hand, heavy commercial vehicles will continue to account for the smallest revenue share of the market.
Automotive cameras will continue to witness the largest application in parking surround view, trailed behind by 360? surround view. In addition, drowsiness and blind spot applications of automotive camera will register the fastest expansion at nearly equal CAGRs through 2026.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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