Global Automotive Cameras Market size is projected to be valued $33 Billion by 2024; with a CAGR of 17.3% from 2017 to 2025. Automotive cameras are image sensing cameras installed inside and outside the vehicle for safety purposes. Automotive cameras are used in various application areas such as night vision, rear view enhancement, and lane departure warning. It also enable consumers for better insurance claim as it record drivers’ behavior. Increased road accident and traffic rush has fueled the demand of automotive cameras in vehicles.
Increase in demand for sensing cameras in advanced driver assistance systems, huge requirement by passenger cars, and rise in demand for luxury vehicles are the major factors driving the global automotive cameras market. Moreover, replacement of side-view mirrors with cameras would increase the demand for automotive cameras in coming years. However, high cost of automotive cameras may hinder the market growth.
By product, the global automotive camera is segmented into rear-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.
Based on geography, the market has been segmented into North America, Europe, Asia Pacific and 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.
Major companies operating in this market are 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.
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Scope of the Global Automotive Cameras Market