2020 Updates: Exclusive Automotive Camera Market Insights in Times of COVID-19 | Business Opportunities, Share Estimates and Growth Forecast to 2026

The global automotive camera market size is expected to reach USD 8.5 billion by 2026 while exhibiting a CAGR of 12.1% between 2019 and 2026. This is attributable to increasing demand for technologically advanced product across the globe. Fortune Business Insights, in its latest report, titled “Automotive Camera Market Size, Share & Industry Analysis, By Technology Type (Stereo, Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blind Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, Others), By Vehicle Type (Passenger Cars and Others), and Regional Forecast, 2019-2026.”, observes that the market was worth USD 3.5 billion in 2018 and is likely to witness significant growth during the forecast period.

The global pandemic, COVID-19, has led to severe repercussion owing to its widespread effects across several economies. Several industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government as well as the industries and is expected to bounce back in the coming years.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Get Sample PDF Brochure with Impact of COVID-19 Analysis:

https://www.fortunebusinessinsights.com/enquiry/covid19-impact/automotive-camera-market-101912

An automotive camera offers a one-stop solution to all the safety concerns of the consumers. They provide safety features such as collision warnings, emergency braking, traffic sign recognition, lane departure warning, and active cruise control, among other vital functions.

Cameras have an efficient ability to detect the objects around the vehicle that results in improved safety of the occupants. Recent technological advancement has meant that the cameras are better equipped to function even in adverse conditions such as fog, changing light conditions, and precipitation.

What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Additionally, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period.

The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.

DRIVING FACTORS

Increasing Adoption of Technologically Advanced Product to Surge Demand

According to the US Department of Transportation, half of the road fatalities on the United States highways occur due to roadway departure crashes every year. This includes vehicles that cross the center line, edge line, or change lanes. However, warning sign installations in the automotive have proven to reduce the roadway departure crashes to a large extent. The manufacturers are developing advanced automotive cameras that aids in improving the safety and visibility of cars.

Combined with the vehicle’s ADAS system, the advanced cameras offer high-level performance and security even in adverse conditions, while being robust and cost-effective. In addition to this, stringent government regulations regarding road safety is propelling the manufacturers to introduce products with advanced features such as remote sensing technologies that collect real-time data around the vehicle. Therefore, increasing adoption of latest technology combine with ADAS is expected to favor the growth of the global automotive camera market during the forecast period.

REGIONAL INSIGHTS

Stringent Road Safety Regulations in Europe to Aid Growth

Among all regions, the market in Europe is expected to remain at the forefront and register highest global automotive camera market revenue during the forecast period. This is primarily attributable to adoption of stringent regulations regarding road safety by the government in a bid to reduce road fatalities. Europe recently introduced new standard safety regulations such as (EC) 78/2009 for the automotive manufacturers that emphasizes on protection of pedestrians and other road users.

The Asia Pacific, on the other hand, is anticipated to be the second largest region in the market during the projected horizon. This is ascribable to factors such as increasing sales and production of vehicles owing to large population and high disposable income of the working population in the region.

COMPETITIVE LANDSCAPE

OmniVision’s First-ever Wafer-level Camera Module to Have Colossal Global Impact

In June 2020, OmniVision Technologies, a prominent advanced digital imaging solutions provider, announced its launch of the world’s first automotive grade camera, OVM9284 CameraCubeChip module. According to the company, the module provides designers of the driver monitoring system (DMS) maximum flexibility for placing the camera within the cabin space, while keeping it hidden from general view.

Furthermore, it provides high quality images even in total darkness owing to its best-in-class quantum efficiency at the 940 nm wavelength. The companies involved in the global automotive camera market are adopting strategies such as introduction of new products, collaboration, and partnership to gain major share in the forthcoming years.

Get your Customized Research Report:

https://www.fortunebusinessinsights.com/enquiry/customization/automotive-camera-market-101912

List of the Companies Operating in the Market:

Robert Bosch Gmbh
Autoliv, Inc
Continental AG
ZF Friedrichshafen AG
Denso Corporation.
Ricoh
Magna International Inc.
Garmin Ltd
Valeo
OmniVision
Mobileye
Kappa optronics GmbH

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

308, Supreme Headquarters,

Survey No. 36, Baner,

Pune-Bangalore Highway,

Pune - 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email:sales@fortunebusinessinsights.com

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

This release was published on openPR.