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Automotive Camera Is Among The Digital Transformation Trends In Automotive Industry by 2030
Automotive Camera Market 2020-2030
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Presently, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and Germany led the overall market in Europe. However, in the Asia-Pacific region, China currently dominates the market.
Rise in demand for passenger vehicles coupled with safety & security concerns among consumers and increase in number of road fatalities drive the growth of the global automotive camera market considerably. In addition, rise in trend of installing advanced driver assistance system (ADAS) and legislations mandating installation of cameras in vehicles are anticipated to provide potential growth opportunities for the market. However, high installation cost of the cameras is one of the major restraints of the market.
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Key Findings of the Automotive Camera Market :
o On the basis of application, the adaptive cruise control system segment led the global automotive camera market in the year 2017.
o The North America region held the majority of market share in 2017.
o By vehicle type, the passenger car segment has been dominating the global automotive camera market in the year 2017. However, the heavy commercial vehicle segment is expected to grow at the highest CAGR during the forecast period (2018-2025).
o The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
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