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AUTOMOTIVE & TRANSPORTATION

Automotive Camera Market Analysis by Camera Type (Side-mirror, Corner-view, Interior-view, and Rear-view Enhancement); by Vehicle Type (Passenger Cars, and Commercial Vehicles); by Technology (Mono Cameras, Stereo Cameras, and Infrared Cameras); by Application (Blind Spot, Parking Surround View, Drive Recorders, 360° Surround View, and Others); and by Distribution Channel (Original Equipment Manufacturer (OEM), and Aftermarket) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Ambarella International LP - announced the achievement of ASIL C certification for its CV2FS automotive AI perception system-on-chip (SoC) from external auditor exida.

  • Panasonic Holdings Corporation - signed strategic comprehensive collaboration agreement with Leica. The symbol of the collaboration is the development of "L2 Technology".

Global Automotive Camera Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~9%

Base Year Market Size (2022)

~ USD 13 Billion

Forecast Year Market Size (2033)

~ USD 35 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global automotive camera market is estimated to garner a revenue of ~USD 35 billion by the end of 2033 by growing at a CAGR of ~9% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 13 billion in the year 2022. The growth of the market is primarily attributed to the growing penetration of automotive camera worldwide. For instance, it was found that, worldwide, more than 80 million units of internal, side and rear cameras for automobiles were shipped in 2020. Furthermore, increasing awareness regarding the vehicle safety is another major factor which is driving growth of the automotive market over the projected time frame.

automotive camera a market overviewGet more information on this report:Download Sample PDF

Automotive cameras are commonly used in advanced driver assistance systems (ADAS) of vehicles. With the recent advancements in automotive camera as well as advanced driver assistance systems (ADAS), the demand for automotive camera is on the rise amongst the automobile users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global automotive camera market during the forecast period. For instance, globally, the advanced driver assistance systems (ADAS) industry generated ~USD 27 billion in 2020. Besides this, significant upsurge in road accidents throughout the world is also boosting the growth of the market.

Global Automotive Camera Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Penetration of Cars – with some having basic model camera that record the road ahead, whilst some have more advanced cameras to record what's happening inside the car. The rising penetration of cars is expected to propel the automotive camera market in the projected period. For instance, it was found that, worldwide more than 17% of people have car, as of 2022.

  • Benefit of Dashcam in Insurance Cost – For instance, some insurance companies give a dashboard camera insurance discount to drivers that range between 15% to up to 30% off.

  • Rising Burden of Road Traffic Crashes – For instance, it is projected that road traffic crashes cost up to 3% of gross domestic product in most countries.

  • Growing Sale of New Light-Vehicle – Sale of new light-vehicles exhibited a surge of ~12% as compared to 2020, reaching ~16 million units in 2021.

  • Upsurge in the Use of Back-up Camera – For instance, it was found that over 30% of vehicles had a back-up camera in 2018.

Challenges

  • Low Awareness Regarding the Benefits of Automotive Camera- Automotive cameras, such as dashcams are notably beneficial to reduce the collisions and accidents. These cameras also offer greater visibility to the driver, and also provide major proof to police in hit-and-run cases. But people are mostly unaware regarding these all advantage, which is expected to restrain the market growth.

  • Stringent Policies & Regulations Regarding the Use of Camera

  • Concern about Privacy Invasion

The global automotive camera market is segmented and analyzed for demand and supply by camera type into side-mirror, corner-view, interior-view, and rear-view enhancement. Amongst these segments, the rear-view enhancement segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing number of automobiles as well as rising incidence of back-over deaths along with the surge in the demand of rear-view camera worldwide. For instance, according to a report, annually around 210 back-over death takes place, and rear-view cameras are estimated to prevent around 1/3 of those deaths.

Global Automotive Camera Market Regional Synopsis

The Asia Pacific automotive camera market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the presence of a strong presence of automobile manufacturing units in the region, followed by the growing sales of automobiles, and rising production of automobiles in the region. According to the International Organization of Motor Vehicle Manufacturers (OICA) statistics, China produced more than 21,407,000 passenger cars, in the year 2021, and became the largest producer of automobiles in the world.

Market Segmentation

Our in-depth analysis of the global automotive camera market includes the following segments:

     By Camera Type

  • Side-mirror
  • Corner-view
  • Interior-view
  • Rear-view Enhancement

     By Vehicle Type

  • Passenger Cars
  • Commercial Vehicles

     By Technology

  • Mono Cameras
  • Stereo Cameras
  • Infrared Cameras

    By Application

  • Blind Spot
  • Parking Surround View
  • Drive Recorders
  • 360° Surround View
  • Others

    By Distribution Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Top Featured Companies Dominating the Global Automotive Camera Market

  • Ambarella International LP

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Panasonic Holdings Corporation
  • Hitachi, Ltd.
  • Samsung Electronics Co., Ltd.
  • Hyundai Mobis Co., Ltd.
  • Autoliv Inc.
  • Denso Corporation
  • Continental AG
  • Clarion Co., Ltd.
  • Gentex Corporation

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