Global automotive cameras Market is Estimated to Reach $33 Billion by 2025, Says Accurize Market Research
Global automotive cameras market report published by Accurize Market Research forecast that the global market is expected to reach $33 billion by 2025; growing at a CAGR of 17.3% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increase in demand for sensing cameras in advanced driver assistance systems, huge requirement by passenger cars, and rise in demand for luxury vehiclesacross the globe to drive the growth of the market
Increase in demand for sensing cameras in advanced driver assistance systems, huge requirement by passenger cars, and rise in demand for luxury vehiclesfuel the demand for the global automotive cameras market. Moreover, replacement of side-view mirrors with cameras also boosts the growth of the market.
The global automotive camerasmarket has been bifurcated on the basis ofrear-view enhancement, side-view cameras, forward-view cameras and interior-view cameras. The technology segment comprises mono cameras, stereo cameras, infrared cameras and others. By application the market is sub-segmented into LDWS, parking surround view, parking, night vision, drowsiness, distance, blindspot, AFS and others. By product, the rear-view enhancement is the largest market at present and is expected to hold its position throughout the forecast period owing to its extensive usage during parking and reverse driving. Stereo cameras dominated the technology segment with the maximum market share. Distance cameras are expected to grow at the fastest CAGR in the overall application segment.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Spain and others. Asia-Pacific covers China, India, Japan, Australia, South Korea and Others. Rest of the World (RoW) covers South America, Middle East and Africa.
“Rear-view enhancement accounted for the largest market share in the product type segment", says Accurize
By product type, rear-view enhancement accounted for the largest market share in the global automotive cameras market, owing to its extensive usage during parking and reverse driving. The side view cameras are anticipated to grow at the fastest CAGR during the forecast period. The stereo cameras dominated the technology segment with the maximum market share in 2017. Distance cameras are expected to attain the fastest growth rate in the overall application segment during the forecast period.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted for the largest market share of 35% owing to growth in demand of luxury vehicles in countries such as U.S., and Canada. Increased demand for installation of ADAS in commercial vehicles has also propelled the growth of automotive cameras in the North American market. Europe was the second largest market with a total market share of 33% in 2017. In terms of growth, Asia-Pacific is to attain the fastest CAGR of 19% during the forecast period 2017-2025.
Top players in the market
The key market players include Delphi Automotive LLP, Ficosa International S.A., KYOCERA Corporation, Transcend Information Inc., Autoliv Inc., Continental AG, Qrontech Co. Ltd., Valeo Inc., Robert Bosch GmbH, Media Data Systems Pte Ltd. among others.
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