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Automotive Camera and Camera Module Market Segment by Type, and Forecast 2023 to 2031 | Aptiv PLC Autoliv, Inc Continental AG Denso Corporation. Garmin Ltd
At the same time, the global Automotive camera market is expected to reach a market size of US$ 21.9 billion by 2031, growing at a CAGR of 14.4% from 2023-2031.
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The automotive camera and camera module market has been growing rapidly due to the increasing demand for advanced driver assistance systems (ADAS) and the growing trend towards autonomous driving. Automotive cameras and camera modules have become an essential component of vehicles as they provide critical information that helps in the safe and efficient operation of vehicles.
One of the major drivers of the automotive camera and camera module market is the increasing number of vehicles with ADAS. According to a report by Astute Analytica, the number of vehicles with ADAS is expected to reach 151 million by 2025, and the number is likely to increase to 361 million by 2030. This growth is expected to drive the demand for automotive cameras and camera modules.
Apart from this, the willingness of consumers to pay extra for safety features is also reflected in a survey conducted by Astute Analytica, which found that 80% of respondents were willing to pay extra for safety features such as blind-spot detection, automatic emergency braking, and lane departure warning.
The increasing demand for luxury vehicles and electric vehicles (EVs) is also expected to have an impact on the automotive camera and camera module market. According to a report by EV-volumes.com, global sales of electric vehicles (EVs) reached a total of 10.2 million units in 2022, which is a 65% increase from the previous year. The report also notes that EVs accounted for 14% of all passenger car sales worldwide in 2021. In terms of luxury vehicle sales, global sales of luxury cars amounted to 8.2 million units in 2021. This represents an increase from the previous year, where global sales of luxury cars amounted to 6.4 million units. The report also notes that China was the largest market for luxury cars in 2021, accounting for 38% of global sales.
Key Findings in the Global Automotive Camera and Camera Module Market
In the automotive camera and camera module market, the component segment comprises hardware and software components. The hardware segment is projected to be the market leader, contributing to more than 70% of the revenue share, owing to the surging demand for high-quality and dependable camera hardware components in the automotive industry.
The camera type segment encompasses various types of cameras used in the market, such as front view cameras, rear view cameras, and surround view cameras. Among these, the rear-view camera segment is expected to dominate, accounting for over 37% of the revenue share, due to the increasing need for rear-view cameras to comply with regulations and enhance safety features.
In terms of focus, the fixed focus segment is anticipated to generate the highest revenue, contributing to over 65% of the market share. This is due to the rising demand for cost-effective and reliable camera solutions in the automotive industry.
Passenger cars are expected to capture more than 71% of the automotive camera and camera module market revenue, as there is a growing need for these systems to improve safety features and driver assistance systems in passenger vehicles.
Regarding application, the park assist system application segment is projected to dominate the market, contributing to over 33% of the revenue share. This is because of the increasing demand for advanced parking assist systems in vehicles.
Original Equipment Manufacturers (OEMs) are expected to capture over 88% of the market revenue, owing to the surging demand for these systems in newly manufactured vehicles produced by OEMs.
Browse summary of the report and Complete Table of Contents (ToC): https://www.astuteanalytica.com/industry-report/automotive-camera-and-camera-module-market
Park Assist and Lane Departure Warning System to Hold Over 50% Revenue Share
The prominence of parking assist and lane departure warning system in the Automotive Camera & Camera Module Market can be attributed to the increasing demand for safety and convenience features in vehicles.
The parking assist system has captured over 32% revenue of the automotive camera and camera module market due to its ability to aid drivers in parking their vehicles safely and accurately. With the increasing number of vehicles on the road and limited parking spaces, the Parking Assist System has become a crucial feature for drivers. The system uses cameras and sensors to detect obstacles and provide the driver with visual and auditory warnings to help them park safely.
On the other hand, the lane departure warning system has captured over 18% revenue share in the market due to its ability to reduce accidents caused by drivers unintentionally drifting out of their lane. The system uses cameras to detect lane markings and alerts the driver with visual and auditory warnings if they begin to drift out of their lane without signalling.
Both the parking assist system and lane departure warning system have become increasingly popular due to their ability to improve safety and convenience for drivers. The demand for these systems is expected to continue to grow as more vehicles are equipped with advanced driver assistance systems.
Top 5 Players to Hold Over 42% Revenue Share of Global Automotive Camera and Camera Module Market
The global automotive camera & camera module market is highly competitive with many companies operating in the market to provide various products. The market has seen many big players adopt various competitive strategies such as mergers & acquisitions in order to have a grip on emerging markets. Leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
The cumulative market share of the top 5 players is close to 42.8%, indicating a monopolistic competition in the market. Continental AG is the largest player with over 16% market share, followed by Autoliv, Inc. with a 9.2% share. The market share of the top players for the global automotive camera & camera module market consists of local players and small-scale players. However, the top players in the market include Denso Corporation, Continental AG, Aptiv PLC, Autoliv, Inc., and Valeo.
Continental AG has been a leading player in the Global automotive camera and camera module market, and has been actively involved in expanding its geographical boundaries and product portfolio through strategic acquisitions of smaller brands and domestic companies. In 2020, the company acquired a stake in Advanced Radar Technologies, Inc. (ART), a US-based radar technology startup, to strengthen its position in the ADAS and autonomous driving markets. Continental AG also acquired Kathrein Automotive GmbH, a leading provider of antenna and radio frequency technology, to enhance its product portfolio in the area of vehicle connectivity and communication systems.
Furthermore, Continental AG has a strong focus on research and development, and has been investing heavily in developing advanced camera and sensor solutions for autonomous driving applications. The company has been collaborating with leading automotive manufacturers to develop next-generation ADAS technologies in the global automotive camera and camera module market, including camera systems that can detect and classify objects in real-time, as well as advanced radar and lidar systems that enable highly automated driving.
Some of the Top Market Players Are:
Aptiv PLC
Autoliv, Inc
Continental AG
Denso Corporation.
Garmin Ltd
Hyundai Mobis Co., Ltd.
Kappa optronics GmbH
Magna International Inc.
Mobileye
OmniVision
Ricoh
Robert Bosch Gmbh
Valeo
ZF Friedrichshafen AG
Other Prominent Players
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https://www.barchart.com/story/news/16105557/asia-pacific-commercial-printing-market-future-growth-challenges-potential-benefits
https://www.barchart.com/story/news/16105551/automotive-camera-and-camera-module-market-segment-by-type-and-forecast-2023-to-2031
https://www.barchart.com/story/news/16105545/smart-home-healthcare-market-everything-you-need-to-know-apple-inc-att-inc-bsh-home-appliances-group-companion-medical-e-a-engineering-solutions-private-limited-f-hoffmann-la-roche-ltd-fitbit-inc
About Astute Analytica
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.
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