Automotive Camera Market - Growth, Trends, and Forecast (2020 - 2025)

The Automotive Camera Market is segmented by Vehicle Type (Passenger Vehicle and commercial vehicles), Type (Viewing Camera and Sensing Camera), Application (ADAS and Parking) and Geography.

Market Snapshot

Study Period:

2020-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

15.83 %

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Market Overview

The automotive camera market is expected to register a CAGR of 15.83%, during the forecast period, 2020-2025.

  • Increase in demand for automobiles, increasing concern for safety among customers, mandatory government norms, advanced innovations, rapid adoption of ADAS and availability of low-cost parking cameras and sensors in aftermarket are some of the major drivers of growth of Automotive Camera market.
  • However, high cost of the module has been slightly hindering the market growth. ADAS like Adaptive cruise control (ACC), Forward Collision Warning System (FCWS) and Automatic Emergency Braking (AEB) requires 3 to 6 cameras to be installed on the vehicle. These cameras in an automotive cost almost 8 times the module in a mobile phone camera, making it a challenge for entry into the market.
  • Thermal camera and multi camera systems are expected to exhibit the highest growth rate in sensing camera and application segments during the forecast period.
  • Latest advancements in the camera technology such as 360 degrees camera that stitch the images from multiple cameras and display a consolidated image on split screen and mass production of these units are expected to bring down the price drastically, creating a scope of venture in the sector.
  • India and China are emerging as automotive part manufacture hubs and suppliers for the western automakers, and this is expected to drive the market for cameras in the Asia-Pacific region over the coming five years. China’s automotive camera market is expected to grow at a CAGR of 19.62% till 2022.
  • Strict government norms now require vehicles to be installed with advanced safety features like ADAS. US and European authorities make installation of Automotive Emergency Braking (AEB) and Forward Collision Avoidance/Warning System mandatory by 2020. New Car Assessment Program (NCAP) norms will require all the vehicles to be installed with safety features in coming years. This will boost the sales of automotive cameras in Europe.

 

Scope of the Report

The automotive camera market covers the latest trends and technological development in the automotive camera market, demand of the vehicle type, camera type, application type and market share of major automotive camera producing companies across the world.

By Vehicle Type
Passenger Vehicle
Commercial Vehicles
By Type
Viewing Camera
Sensing Camera
By Application
Advanced Driver Assistance Systems (ADAS)
Parking
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
Brazil
South Africa
Other Countries

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Key Market Trends

Sensing Camera to Witness the Fastest Growth

Systems using cameras for remote sensing are gradually becoming an integral part of an active safety system in vehicles. Sensing cameras provide a higher level of performance than general-purpose driving cameras, while also meeting the required automotive quality standards as cost-effective solutions. These are intelligent safety systems with two key components: the remote sensors (using remote sensing technologies) and the processing computer. A remote sensor is a device that collects data about real-world conditions through sensors, such as radar, ultrasonic sensors, and cameras. The processing computer receives data from these cameras and sensors then make the decision and sends commands to the vehicle subsystems.

With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. Owing to the aforementioned trends, the number of automotive camera shipments is expected to exceed 170 million units in the global market by 2020 and the ADAS camera market is expected to cross USD 7 billion by 2021.

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Asia Pacific market has the fastest growth rate

Asia Pacific region comprises of geographies such as China, India, Indonesia and Thailand where disposable income of customers is increasing. Despite the aforementioned factor, the automotive sales (especially passenger cars) have declined in 2019 but the market is expected to show a good growth rate in the coming years. In Asia Pacific, ADAS market is exhibiting a growth rate of 20.01% due to faster adoption rate among customer. Various OEMs are now introducing parking assist systems (earlier installed in luxury segment cars only) in mid and small segment cars such as Maruti Ignis, Hyundai Grand i10 to create a point of differentiation from other OEMs. Another factor that is boosting the growth of automotive camera market is the presence of large number of equipment manufacturers in the region. Chinese manufacturers such as Suzhou INVO automotive electronics, Shinningpc Industrial co. ltd, Guangzhou Wemaer Electronic Technology co. ltd, etc. have achieved economies of scale and are producing devices at a cheaper rate.  There are numerous active players in the aftermarket.

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Competitive Landscape

The automotive camera market is highly fragmented, due to the presence of many regional players. However, some of the major players, like Garmin Ltd, Panasonic Corporation, Continental AG, Autoliv Inc., and Magna international, among others, have captured significant shares in the market. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability. For instance, in January 2018, Garmin, with support from Amazon Alexa, has launched Garmin Speak Plus, by adding a built-in dash camera to its innovative Garmin Speak.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vehicle Type

      1. 5.1.1 Passenger Vehicle

      2. 5.1.2 Commercial Vehicles

    2. 5.2 By Type

      1. 5.2.1 Viewing Camera

      2. 5.2.2 Sensing Camera

    3. 5.3 By Application

      1. 5.3.1 Advanced Driver Assistance Systems (ADAS)

      2. 5.3.2 Parking

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 France

        3. 5.4.2.3 United Kingdom

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 India

        3. 5.4.3.3 Japan

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Gentex Corporation

      2. 6.2.2 Continental AG

      3. 6.2.3 Autoliv Inc.

      4. 6.2.4 Hella KGaA Hueck & Co.

      5. 6.2.5 Panasonic Corporation

      6. 6.2.6 Robert Bosch GmbH

      7. 6.2.7 Valeo SA

      8. 6.2.8 Magna International Inc.

      9. 6.2.9 ZF Friedrichshafen AG

      10. 6.2.10 Garmin Ltd

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER

** Subject to Availability

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