Innovations in the automotive sector have gathered momentum in the past few years, which has improved the functionality of automobiles greatly. Market focused reports related to the semiconductors and electronics sector among others recently have been made available by Market Research Future which publishes reports on this market. The automotive camera systems market is projected to achieve revenues worth USD 19 Billion by 2023 while expanding at a 19 percent CAGR during the forecast period.

Automotive cameras are being incorporated into the design for automobiles to enable a more efficient driving experience. Developments in the field of technology have been instrumental in designing high-quality products that are sleek and ergonomic and add value to the overall worth of the end products. Enhanced features such as cruise control and night vision are few of the new features that are being demanded by consumers of the market. The growth of the luxury cars segment has prompted an expansion in the automotive camera market as well. The price of the cameras has also gone down considerably with developments in product design and escalation in the production levels of the automotive cameras respectively. The passenger cars segment of the market is estimated to be one of the major drivers for the demand of the market, especially through the forecast period.

Industry Segments

The automotive camera industry globally is segmented on the basis of vehicle type, camera, application type, and geography. The vehicle type segment of the market is divided into passenger car and commercial vehicles. The camera types segment of the industry comprises of a digital camera, thermal camera, and infrared camera. Adaptive cruise control, pedestrian detection, lane departure warning, park assist system, night vision, blind spot detection, road sign recognition and driver monitoring are the segments on the basis of application types present in the industry. The geography-based segmentation of the industry presents regions such as North America, Europe, Asia Pacific and Rest of World.

Detailed Regional Analysis

Asia Pacific, North America, Europe and Rest of the World are the regions that are being observed in the regional analysis of the automotive camera market. The North American region is assessed to be dominating the automotive camera industry due to connectivity at high speeds. The European region is also a noteworthy market for this product category and is expected to show growth at an enormous level of development in the installation of safety technologies in passenger cars in nations such as UK, France, Germany, and Italy.The Asia Pacific region will observe substantial growth chiefly in nations like India, Malaysia, Japan, China, Thailand and South Korea because of the rapid industrialization scale coupled with growing numbers especially in the production of automobiles. Also, growing disposable income levels combined with high standards of living of the customers will provide huge motivation for the growth of the automotive camera industry.

Global Competitive Analysis

The constant delivery of customer value is enhancing the market value of the industry. The market contenders are devising their blueprints for corporate strategy in a way can bring about the best results for development in the current scenario, while also concurrently enhancing their product’s value. The opportunity for growth in the market appears to be promising through the forecast period. The capability to fuel competitive capabilities is one of the chief causes powering their efforts in this period. The escalating levels of diversification in the industry, have allowed the companies to utilize many opportunities available in the industry. The firms in this market are adapting to the state of events by implementing portfolio upgrades and maintaining financial liquidity. Moreover, the contenders are handling the competitive environment by driving the market growth factors to their advantage.

The well-known competitors in the automotive camera industry are Allied Vision Technologies (Germany), Balluf (Germany), Basler AG (Germany), ADA-ES Inc. (U.S.), Delhi Automotive PLC (U.K.), Autoliv, Inc (Sweden), Denso Corporation (Japan), Valeo S.A. (France), Robert Bosch GmBH (Germany), TRW Automotive (U.S.) among others.

Industry Updates:

May 2018 JVC Kenwood which is a Japanese electronics maker is planning to raise the production of its automotive cameras fueled by strong sales in its region as well as to support its plans to expand overseas. The change in their strategy is a part of the company’s strategy which is based out of Yokohama, Japan to fuel the manufacturing of automotive cameras, comprising of dashboard cameras as well which will enable new opportunities.