Automotive Camera Market Size & Share, by Camera Type (Side-Mirror, Corner-View, Interior-View, Rear-View Enhancement); Vehicle Type (Passenger Cars, Commercial Vehicles); Technology (Mono Cameras, Stereo Cameras, Infrared Cameras); Application (Blind Spot, Parking Surround View, Drive Recorders, 360-Degree Surround View); Distribution Channel (Original Equipment Manufacturer (OEM); Aftermarket) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3507
  • Published Date: Oct 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024 - 2036

Automotive Camera Market size is expected to cross USD 46 Billion by the end of 2036, growing at a CAGR of 10% during the forecast period, i.e., 2024 – 2036. In the year 2023, the industry size of automotive camera was over USD 14 Billion. The industry growth is expected to be driven by growing safety concerns for passengers in cars around the world, as well as increasing technological progress on driver's assistance sensors based on cameras. For instance, over 80 million units of internal, side and rear cameras for cars were found to be shipped worldwide in 2020.

In addition, the use of car cameras is widespread in the advanced driver assistance systems ADAS. The demand for automotive camera is growing among auto users, which will lead to considerable revenue generation opportunities for the main players involved in the global market over the next few years as a result of recently developed technologies such as improved driver assistance systems.


Automotive Camera Market
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Automotive Camera Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Penetration of Cars- Each has a basic video camera that records the road ahead, while others have more sophisticated cameras recording what's going on in the car. The automotive camera market is projected to gain in value over the coming years as vehicle penetration increases. In particular, as of 2022, more than 17% of the world's population had a car.
  • Rising Adoption of 360-Degree Camera- 360-degree cameras provide a driver with real-time visibility of an area surrounding the vehicles that is about two feet in diameter. The 360-view cameras also assist drivers in navigating through traffic jams and parking lots in a safe manner, enabling them to observe obstacles, pedestrians, or another vehicle into blind spots resulting in reduced risk of accidents. With increasing awareness, car manufacturers have been forced to put 360-degree cameras with advanced technology on their vehicles in order to upgrade the safety features that consumers are aware of. The market is expected to grow over the forecast period in line with these factors.
  • Adoption of Artificial Intelligence Based Cameras- Various suppliers, as well as manufacturers of autonomous vehicles are focusing on the development and deployment of AI cameras. Such systems provide safety functions such as adaptive cruise management, automatic braking, traffic signs identification and detection of pedestrians. The advantage of using artificial intelligence cameras is that, in combination with each other, they are cheap and offer a wide range of modern, secure, reliable or very precise technologies. The demand for AI-based cameras will be supported by the increasing demand for self-driving cars. As a result, AI based cameras are one of the latest trends in the automotive camera industry. 

Challenges

  • Low Awareness Regarding the Benefits of Automotive Cameras- In particular, the reduction of road accidents is facilitated by automotive camera systems such as dash cams. The cameras also provide greater visibility to the drivers, as well as significant evidence for police in cases where a hit-and-run occurs. Nevertheless, all these benefits are usually not known to the public and this is causing a slowdown in market growth.
  • The growth of the market may be hindered by a number of restrictive policies and regulations in relation to its use.
  • The growth in the market could be hampered by concern over intrusion into private life.

Automotive Camera Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 10%

Base Year Market Size (2023)

 ~ USD 14 Billion

Forecast Year Market Size (2036)

 ~ USD 46 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 the Middle East and Africa)
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Automotive Camera Segmentation

Vehicle Type (Passenger Cars, Commercial Vehicles)

The passenger cars segment in the automotive camera market is anticipated to hold 72% of the revenue share during the forecast period. With rising adoption of active safety systems leveraging camera-based ADAS applications in mid prices range cars. In view of improving road safety standards, supporting legislation, and consumer education, governments from developed and developing countries plan to mandate advanced driver assistance systems in passenger cars. Moreover, major developing countries such as China, India, Thailand and Brazil have witnessed an increase in their country's GDP per capita, growing disposable income and improving living standards. This has led to a growing demand for luxury vehicles, which are usually equipped with standard features of the ADA and parking assistance applications, from the lower grades onwards. China's luxury vehicle dealers sold 277,000 vehicles in April 2020 representing an increase of 11.1% compared to April 2019, according to a report by the Chinese association of car dealers. In April 2020, the sales of luxury cars accounted for 18.7% of the market, a growth of 3.6% compared to April 2019, and up slightly by 0.4% from March.

Technology (Mono Cameras, Stereo Cameras, Infrared Cameras)

The stereo cameras segment is anticipated to hold 38% share of the automotive camera market during the forecast period. Two cameras accurately measuring distances between obstacles and the vehicle are part of a stereo camera. The correct functioning of various advanced driver assistance systems applications, e.g. lane departure warnings, collision warning, and adaptive cruise control, is ensured by stereo cameras. Consequently, it is expected that their dominant position will be maintained during this forecast period by increasing the use of single camera systems in automated driver and collision detection devices.

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

      Camera Type

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

     Vehicle Type

  • Passenger Cars
  • Commercial Cars

     Technology  

  • Mono Cameras
  • Stereo Cameras
  • Infrared Cameras

     Application

  • Blind Spot
  • Parking Surround View
  • Drive Recorders
  • 360-degree Surround View

     Distribution Channel

  • Original Equipment Manufacturer
  • Aftermarket

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Automotive Camera Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific automotive camera market is anticipated to account for 35% of the revenue share during the forecast period. In terms of production and sales, the main contribution from passenger cars and motor vehicles is made in particular by countries like China, South Korea and Japan which have a dominant position on the global market. China's car industry is produced around 23.8 million passenger cars in 2022. In addition, foreign original equipment manufacturers operating in these countries have increased production capacity and are expected to start introducing their current and future vehicle models which enable the use of advanced car camera based systems. New markets are likely to be opened up by the growing number of people, per capita income and change in consumers' preferences for an increased use of advanced driver attention system technology in current vehicles in the region.

North American Market Statistics

The North America region is expected to account for 28% share of the global automotive camera market during the forecast period. Demand in this region is expected to increase during the forecast period as a result of rising demand for luxury vehicles in North America, Canada, and Mexico coupled with increasing ADAS installation in commercial vehicles and passenger cars. The growth of the market for automotive cameras, which in turn contributes to strengthening the target markets across the region, is another driving factor behind increasing consumer demand for active safety systems. For instance, as part of an effort to cope with a growing demand for digital cameras from customers, Magna set up its new USD 50 million manufacturing facility at Flint, Michigan during August 2019.

Research Nester
Automotive Camera Market Size
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Companies Dominating the Automotive Camera Landscape

top-features-companies
    • Magna International Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Continental AG
    • ASM Pacific Technology Ltd.
    • Brigade Electronics Group Plc.
    • Bosch Mobility Solutions
    • OMNIVISION Technologies Inc.
    • Samsung Electro-Mechanics
    • Gentex Corporation
    • Ambarella International LP
    • Autoliv, Inc

In the News

  • Omnivision launched the world's first image sensor for vehicle cameras. It offers a combination of STEREO flicker mitigation (LFM) and a 3 micron pixel size camera integrated with 140db HDR accomodating features such as lens correction and defect pixel correction.
  • Continental unveiled new system solutions for safer automated driving. It developed a combined camera system comprising an inward-looking infra-red camera and an outward-looking camera. The system can simultaneously monitor the driver and the surrounding vehicles.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 3507
  • Published Date: Oct 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing penetration of cars as well as rising shipment of car cameras along with surge in the demand for ADAS are the major factors driving the growth of the Automotive Camera market.

The market size of automotive camera is anticipated to attain a CAGR of 10% over the forecast period, i.e., 2024 - 2036.

The major players in the market are Continental AG, ASM Pacific Technology Ltd., Brigade Electronics Group Plc., Bosch Mobility Solutions, OMNIVISION Technologies Inc., Samsung Electro-Mechanics, Gentex Corporation, Hyundai Mobis, Autoliv, Inc, and others.

The passenger cars segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Automotive Camera Market Report Scope
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