Press release
Automotive Camera Market Poised for 12.2 % Growth, Set to Hit $219.46 Billion by 2029
Automotive Camera Market
The predicted rise in road casualties is set to spur the expansion of the automotive camera sector. Road fatalities are defined as anyone who dies or is killed within a month following a traffic accident. In-built features in these vehicle camera systems, such as an accelerometer, g-sensor, GPS tracking and motion detection, provide means of identifying a multitude of safety concerns, including sudden braking, abrupt turning or collisions. For prompt review, the system immediately uploads footage captured before and after the incident. For example, a June 2024 report by the non-profit professional organization, Road Safety Wales 2024, disclosed that 4,348 road casualties were reported by Welsh police forces in 2023, indicating a 2% rise from 2022.
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What growth opportunities are expected to drive the automotive camera market's CAGR through 2034?
The market size for automotive cameras has seen rapid expansion over the recent years. The market is forecasted to climb from $9.9 billion in 2024 to approximately $11.07 billion in 2025, representing a compound annual growth rate (CAGR) of 11.8%. The historical growth is primarily due to heightened focus on car safety, adoption of innovative driver assistance systems (ADAS), a rise in regulatory norms pertaining to rear and surround-view cameras, increasing demand for parking assist systems and collision prevention, as well as the incorporation of these cameras in the development of self-driving vehicles.
In the coming years, a swift expansion is anticipated in the automotive camera market, which is predicted to reach $17.53 billion in 2029, progressing at a compound annual growth rate (CAGR) of 12.2%. The growth during this forecast period can be credited to factors such as the burgeoning connected car ecosystem, growing adoption rate of 360-degree camera systems, increased utilization of cameras in commercial vehicles for fleet management, heightened demand for advanced safety features, and rising requirement for shared mobility. Key trends in this forecast period comprise the integration of artificial intelligence (AI) and machine learning, advancement of high-resolution and well-performing cameras in low-light, tailoring camera systems according to specific vehicle models and applications, partnerships between automakers and tech providers for novel camera solutions, and usage of cameras for augmented reality (AR) displays and improved driver assistance features.
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What are the emerging trends shaping the future of the automotive camera market?
In the automotive camera sector, top-notch companies are prioritizing the development of advanced technologies such as hot-pluggable GMSL automotive HDR cameras. These innovations are geared towards improving the quality of images and overall performance under varied driving conditions while simultaneously enhancing the ease of system integration and installation. The hot-pluggable GMSL automotive HDR camera, a high-performance automotive camera, can be effortlessly connected without the need for power shut-down and it uses Gigabit Multimedia Serial Link for rapid data transfer. As an illustration, e-con Systems, an American-based Original Equipment Manufacturer for camera solutions unveiled the world's inaugural hot-pluggable GMSL automotive HDR camera, the STURDeCAM34, in October 2024. Thanks to its 3MP resolution and advanced 140 dB HDR capability, it offers a flawless connection and disconnection process without causing system shutdowns, thus being suitable for sophisticated automotive applications. It is built around the AR0341AT CMOS image sensor from Onsemi and comes fitted with features such as LED flicker reduction, the capacity for multi-camera synchronization with support for up to eight cameras, and an IP69K rating to guarantee resilience in tough conditions.
Which growth-oriented segments of the automotive camera market are leading the industry's development?
The automotive camera market covered in this report is segmented -
1) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By View Type: Single View System, Multi Camera System
3) By Technology: Digital Cameras, Infrared Cameras, Thermal Cameras
4) By Application: Park Assist, Advanced Driver-Assistance Systems
Subsegments:
1) By Passenger Vehicle: Compact Cars, Sedans, SUVs, Hatchbacks, Luxury Vehicles
2) By Light Commercial Vehicle: Vans, Pickup Trucks, Minibuses
3) By Heavy Commercial Vehicle: Buses, Trucks, Trailers
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What regions are leading the charge in the automotive camera market?
Asia-Pacific was the largest region in the automotive camera market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What companies are at the forefront of innovation in the automotive camera market?
Major companies operating in the automotive camera market include Continental Automotive GmbH, Robert Bosch GmbH Mobility Solutions, Valeo SA, Aptiv PLC, Magna International Inc., Mobileye NV, OmniVision Technologies Inc., ZF Friedrichshafen AG, Denso Corporation, Hella GmbH & Co KGaA, Ficosa International SA, Basler AG, Autoliv Inc., Ricoh Company Ltd., Garmin Ltd., Ambarella Inc., Aisin Seiki Co Ltd., Renesas Electronics Corporation, Clarion Co Ltd., Valeo Vision Systems, Aptina Imaging Corporation, Hyundai Mobis Co Ltd., Lear Corporation, Magneti Marelli, Seeing Machines Ltd., Sony Corporation, Samsung Electronics Co Ltd., Panasonic Corporation, NXP Semiconductors NV, STMicroelectronics NV
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What Is Covered In The Automotive Camera Global Market Report?
•Market Size Forecast: Examine the automotive camera market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive camera market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive camera market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive camera market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive camera market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive camera market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive camera market.
•Competitive Landscape: Review strategic developments in the automotive camera market, including expansions, agreements, and new product launches.
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