Market Trends of Russia Automotive Camera Industry
This section covers the major market trends shaping the Russia Automotive Camera Market according to our research experts:
Sensing Camera to Experience a Significant Growth
The sensing cameras are gradually becoming an integral part of an active safety system in vehicles. The growth can be attributed to the increase in safety concern of the passengers, and strict government initiatives. Sensing cameras also provide a higher level of performance than general-purpose driving cameras by maintaining quality standards as cost-effective solutions.
These are intelligent safety systems with two key components: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. For instance,
- In March 2019 Garmin Ltd. had announced fresh iteration to its backup camera solution with the all-new BC 40, the company's first wireless backup camera with a compatible Wi-Fi enabled Garmin GPS navigator and allows drivers to confidently see a wide, clear view from the backup camera on the navigation display to help encourage a safer driving experience.
With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. For instance,
- In March 2020 BMW has launched plug-in hybrid 330e and 330e xDrive. Its ADAS includes active cruise control with stop and go, which can accelerate and slows automatically to maintain the desired speed set by the driver. It also has standard features such as active guard, frontal collision warning, city collision mitigation, and lane departure warning.
Passenger Cars Segment to Dominate the Market
Currently, the demand for the automotive camera market is rapidly increasing due to its adoption rate used in passenger cars. Also, it will continue its dominance during the forecast period. Advanced ADAS technologies like Adaptive cruise control (ACC), Forward Collision Warning System (FCWS) and Automatic Emergency Braking (AEB) are hindering the market growth.
The increase in this segment can also be attributed to the strict norms in Russia. Such as, the New Car Assessment Program (NCAP) norms in Russia will require all the vehicles to be installed with safety features in coming years. Another factor that is boosting the growth of the market is that, there is a presence of many car equipment manufacturers from Russia. Also, Russian car manufacturers such as Lada, Volga, Kamaz, and UAZ have achieved economies of scale and are producing devices at a cheaper rate. Various OEMs and Aftermarket companies are now introducing parking assist systems. For instance,
- In June 2019, Garmin Ltd. had introduced the new RV 785 GPS navigator that offers RV-specific navigation options and a new built-in dash camera. It was designed to bring more conveniences to life on the open road. The built-in camera also allows for more sophisticated parking assistance features including lane departure and forward collision warnings, which is designed to help and encourage a safer driving experience.
