Press release
Global Automotive Camera Market Worth $16.93 Billion by 2029, Growing at 11.6% CAGR
Automotive Camera Market
Automotive Camera Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the automotive camera market has experienced a swift expansion. The market, which is projected to escalate from a worth of $9.9 billion in 2024 to a valuation of $10.93 billion in 2025, is set to grow at a compound annual growth rate (CAGR) of 10.4%. This growth during the historical period can be credited to the escalating focus on vehicle safety measures, the implementation of advanced driver assistance systems (ADAS), the rising necessity for regulatory compliances regarding rearview and surround-view cameras, increased need for parking assistance and collision avoidance systems, and the integration of cameras into the development of autonomous vehicles.
What Is the Expected CAGR for the Automotive Camera Market Growth Through 2029?
The dimensions of the automotive camera market are projected to expand significantly in the coming years, advancing to a worth of $16.93 billion by 2029 at a compounded yearly growth rate of 11.6%. This predicted growth in the projected timeline is largely due to the broadening of the connected car ecosystem, the rising adoption of 360-degree camera systems, the escalating usage of cameras in commercial vehicles for fleet management, the expanding demand for state-of-the-art safety features, and the increasing need for shared mobility. Key trends anticipated in this period involve the incorporation of artificial intelligence (AI) and machine learning, the creation of high-definition and low-light functioning cameras, the tailoring of camera systems to precise vehicle models and applications, the partnership between automobile manufacturers and technology providers to produce innovative camera solutions, and the deployment of cameras for augmented reality (AR) displays and improved driver assistance attributes.
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What Are the Primary Drivers Behind Automotive Camera Market Growth?
The projected rise in road deaths may fuel the expansion of the automotive camera market in the future. A road fatality is defined as any individual who dies or succumbs to their injuries within a month of a traffic accident. Features like an accelerometer, g-sensor, GPS tracking, and motion detection are incorporated in vehicle camera systems. These features help detect and identify a variety of safety-related incidents like drastic braking, sharp turns, and accidents. The system instantly uploads footage preceding and following such incidents for prompt review. For example, the Road Safety Wales 2024, a non-profit professional organization located in the UK, reported in June 2024 that Welsh police documented 4,348 traffic victims in 2023, constituting a 2% rise from the statistics of 2022.
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What Are the Key Segments Driving Automotive Camera Market Growth?
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
What Are the Technological Trends Impacting the Automotive Camera Market?
Key players in the automotive camera industry are concentrating their efforts on the development of innovatory tech solutions like hot-pluggable GMSL automotive HDR cameras. These cameras aim to elevate image quality and overall performance during all driving conditions. Additionally, they enhance the convenience of installation and system integration. Hot-pluggable GMSL automotive HDR cameras are high-functioning car cameras that can be plugged in and out without shutting down the system and utilize Gigabit Multimedia Serial Link for swift data transmission. For example, e-con Systems, an OEM camera solution company based in the US, debuted the STURDeCAM34 in October 2024. This camera, the first-ever hot-pluggable GMSL automotive HDR camera in the world, is equipped with a 3MP resolution and an advanced 140 dB HDR capability. The groundbreaking camera can be effortlessly connected and disconnected without affecting system uptime, which makes it suitable for intricate automotive applications. It features Onsemi's AR0341AT CMOS image sensor, and additional features like LED flicker mitigation, multi-camera synchronization supporting up to eight cameras, and a sturdy IP69K rating for use in tough conditions.
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Who Are the Major Competitors in the Global 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 Region Dominates the Automotive Camera Market Share in 2025?
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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