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Surge In Road Fatalities Sparks Growth In The Automotive Camera Market Driving Market Acceleration in the Automotive Camera Industry, 2025
Automotive Camera
How Large Will the Automotive Camera Market Size By 2025?
The size of the automotive camera market has seen swift expansion over the past few years. The market, which will be valued at $9.9 billion in 2024, is expected to escalate to $11.07 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.8%. This surge during the historical period can be credited to the mounting importance given to vehicle safety, the uptake of sophisticated driver assistance systems (ADAS), rising standards for rearview and surround-view cameras, increased need for parking assistance systems and crash prevention measures, as well as the role of cameras in the progression of autonomous vehicles.
How Big Is the Automotive Camera Market Size Expected to Grow by 2029?
The automobile camera industry is projected to experience significant expansion in the coming years, with a predicted market value of $17.53 billion in 2029, marked by a Compound Annual Growth Rate (CAGR) of 12.2%. The attributed factors for its growth in the forecast period include the broadening of the connected vehicle ecosystem, increasing adoption of comprehensive 360-degree camera systems, growing utilization of cameras in commercial vehicles for fleet supervision, rising demand for advanced safety features, and expanding appetite for shared mobility. Future trends within the forecast period comprise the incorporation of AI and machine learning, the development of high-resolution cameras that perform well under low-light conditions, bespoke camera systems designed for specific vehicle models and applications, partnerships between automobile manufacturers and tech providers for innovative camera solutions, and a growing dependency on cameras for augmented reality (AR) displays and improved driver assistance capabilities.
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Which Key Market Drivers Powering Automotive Camera Market Expansion and Growth?
The projected rise in road fatalities is anticipated to stimulate the expansion of the automotive camera market. A road fatality is defined as someone who dies within 30 days from a road accident. System cameras for vehicles consist of an accelerometer and g-sensor, GPS tracking, and motion detection, all of which facilitate the recognition of a myriad of safety issues, such as severe braking or turning and collisions. The system promptly uploads video content from before and after an incident to enable early review. For example, a report released by Road Safety Wales 2024 in June 2024, a non-profit professional organization based in the UK, noted that Welsh police forces reported 4,348 road casualties in 2023, a figure representing a 2% rise from 2022.
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Which Fast-Growing Trends Are Poised to Disrupt the Automotive Camera Market?
Key players in the automotive camera market, such as e-con Systems, are concentrating their efforts on creating cutting-edge technologies like the hot-pluggable GMSL automotive HDR cameras. These cameras are designed to enhance image quality and performance under diverse driving conditions, while also simplifying installation and integration into systems. As the world's first hot-pluggable GMSL automotive HDR camera, the STURDeCAM34, launched by e-con Systems in October 2024, eliminates the need for system shutdown during connection and disconnection. This high-efficiency vehicle camera uses a Gigabit Multimedia Serial Link for rapid data transfer and boasts a 3MP resolution and superior 140 dB HDR capability. The STURDeCAM34 comes with Onsemi's AR0341AT CMOS image sensor and additional features like LED flicker mitigation, a facility for multi-camera synchronization supporting up to eight cameras, and a sturdy IP69K rating ensuring durability in extreme conditions.
What Are the Emerging Segments in the Automotive Camera Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Automotive Camera Industry?
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
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