Press release
Automotive Camera & Camera Module Market: ADAS Application to Rake at 13.1% CAGR During 2021 - 2028
Automotive Camera & Camera Module Market
Rise in demand for autonomous vehicles, growth in demand for safety applications by automotive customers, and government legislation and regulations mandating the installation of cameras in vehicles drive the growth of the global automotive camera & camera module market. However, fluctuations in the prices of raw materials used in manufacturing automotive camera and software failures associated with automotive camera hinder the market growth. On the other hand, implementation of cameras as an alternatives surround view system and rise in the number of traffic accidents create new opportunities in the coming years.
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Covid-19 Scenario:
The outbreak of the COVID-19 pandemic forced the government bodies across the globe to implement strict lockdowns and made social distancing mandatory to curb the spread of the virus, owing to which several organizations started work from home systems as safety measures. This in turn declined the demand for automobiles across the world.
The nationwide lockdowns further disrupted the supply-chain and manufacturing facilities across the globe. However, the government bodies have issued relaxations to maintain the economic stability and with this, the market is expected to recoup soon.
The report offers detailed segmentation of the global automotive camera & camera module market based on type, application, technology, vehicle type, distribution channel, and region.
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Based on type, the single view segment accounted for the highest market share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain its leadership status during the forecast period. In addition, the multi view system segment is estimated to manifest the highest CAGR of 13.1% from 2021 to 2028.
Based on application, the park assist segment held the largest share in 2020, accounting for more than two-thirds of the global automotive camera & camera module market, and is projected to maintain its leadership status during the forecast period. However, the ADAS segment is expected to portray the fastest CAGR of 13.1% from 2021 to 2028.
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Based on region, North America contributed to the highest share in 2020, holding around one-third of the total share, and is expected to continue its dominance in terms of revenue by 2028. On the other hand, the market across LAMEA region is estimated to witness the largest CAGR of 12.8% during the forecast period. The research also analyzes regions including Asia-Pacific and Europe.
Leading players of the global automotive camera & camera module market analyzed in the research include Intel Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Aptiv PLC, Veoneer Inc., Continental AG, DENSO Corporation, Ficosa Internacional SA, Magna International Inc., Hyundai Mobis Co., Ltd. and Valeo.
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Similar Reports We Have on Automotive Industry:
Automotive Camera Market by Application (Park Assist System, Lane Departure Warning System, Adaptive Cruise Control System, Driver Monitoring System, Autonomous Emergency Braking System, Blind Spot Detection, and Others), Technology (Thermal Camera, Digital Camera, and Infrared Camera), and Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles) - Global Opportunity Analysis and Industry Forecast, 2018-2030.
Automotive Camera-based Side Mirrors Market by Type (Rear-view mirror, Front-view Mirror), Sales Channel (OEM, Aftermarket), and Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV): Global Opportunity Analysis and Industry Forecast, 2021-2030.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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