Mexico Automotive Camera Market To Witness the Highest Growth Globally in Coming Years 2021-2026| Magna International Inc., Continental AG

Latest research on Mexico Automotive Camera Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Mexico Automotive Camera market. This report included a special section on the Impact of COVID19. Also, Mexico Automotive Camera Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the Mexico Automotive Camera industry.

Mexico Automotive Camera market is growing at a CAGR of 10% during the forecast period (2021-2026).

The Mexico Automotive Camera market is highly competitive and consists of a number of major players. Top Companies like Magna International Inc., Continental AG, ZF Friedrichshafen AG, Hella KGaA Hueck and Co., Valeo SA, Gentex Corporation, Delphi Automotive PLC, Denso Corporation, Panasonic Corporation, Robert Bosch GmbH

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Industry News And Developments:

- In 2019, Bosch has developed an MPC3 mono video camera for applications such as advanced driver assistance system (ADAS) and autonomous driving. The new camera utilizes a multi-path approach and artificial intelligence (AI) for more efficient recognition and surrounds sensing.

- In 2019, Owl has launched an LTE security camera, the two-way camera can be plugged into a car’s on-board diagnostics port and it can be accessed anytime via the Owl mobile app.

- In 2019, FLIR Systems, Inc. has announced that its thermal sensing technology has been selected by Veoneer, for its contract of level four autonomous vehicle production, planned for 2021. FLIR thermal sensing cores are part of Veoneer’s fourth generation thermal sensing system scheduled to launch in 2020.

Scope of the Report

- Increasing demand for luxury cars in the United States, Canada, and Mexico followed by the demand and increase in installation of safety and driver assistance systems in the light of the regulatory standards of CAF, and FMVSS would drive the automotive camera market in the region significantly.

- Automotive cameras are vulnerable to damage and are not an all-weather sensor yet. However, with the increase in the adoption of automotive cameras, manufacturers are focusing on the optimization of the vehicle sensor architecture in order to achieve significant adoption in the market.

- ADAS features mostly dependent on cameras for recognizing other vehicles, pedestrians, obstacles, traffic signs, and lane lines. After that, the cameras send the information to supporting software which initiates particular response by the vehicle according to the conditions.

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Key Market Trends

ADAS application is projected to lead the market

ADAS technology has become one of the automotive electronics in the recent past. Growing awareness towards road and traffic safety from both government and the car owner is driving the demand of ADAS and ultimately the automotive camera system. Leading automotive OEMs and camera manufacturers are launching various new camera technologies to stay competitive in the market.

For instance, in 2018, Veoneer has been selected by one of the leading automakers for the development and production of mono vision camera systems. This camera system will be comprised of camera hardware, software, and algorithms. The monovision camera system is developed to meet the market standards of NHTSA and European NCAP.

Surge in the Demand of Electric Vehicle will Boost the Market

An increase in electric vehicle demand across North America and mainly in the United States is supporting the growth of ADAS and ultimately the demand for automotive cameras in the region. The high sales numbers of Tesla and other major companies are well supported by EV tax credits. Various market participants are planning to launch their new electric vehicles in the coming years, thus, the ADAS and camera manufacturers are gearing up to catch this rapidly growing market. Automakers are launching new electric vehicles with more and more ADAS features and automotive camera manufacturers are also launching new camera technology for staying ahead in the market.

In 2020, BMW has launched plug-in hybrid 330e and 330e xDrive. Its ADAS has standard features such as active guard, frontal collision warning, city collision mitigation, and lane departure warning.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Mexico Automotive Camera Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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