Navigating Automotive Camera Market: A Study of the Industry's Key Segments

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Automotive Camera Market Size – USD 6.92 Billion in 2021, Market Growth – at a CAGR of 11.3%

SURREY NORTH, BRITISH COLUMBIA, CANADA, January 24, 2023 /EINPresswire.com/ -- What exactly is a car camera?

The onboard automotive camera is intended to record videos of the highest quality to increase visibility and the driver's safety. These cameras are primarily used to help the driver with parking, evaluate the performance of the vehicle, provide night vision, and gather important evidence.

automotive camera market size reached USD 6.92 Billion in 2021 and is expected to register a revenue CAGR of 11.3% during the forecast period, according to latest analysis by Emergen Research. Rising demand for autonomous vehicles and increasing need for easy and convenient driving are expected to support market revenue growth between 2022 and 2030.

 In addition, implementation of rigorous road safety rules and regulations by governments of different countries is expected to drive revenue growth of the global market. Increasing number of vehicles on road is creating serious problems, such as traffic congestion and increase in road accidents. Therefore, governments of various countries are implementing stringent safety norms by mandating vehicle manufacturers and Original Equipment Manufacturers (OEMs) to integrate advanced safety technologies in vehicles to reduce road fatalities.

The European Union (EU) and the United States government have mandated to equip all vehicles from 2020 with autonomous emergency braking systems and forward collision warning systems to reduce road accidents, which is expected to increase demand for automotive cameras. In addition, in March 2019, the European Commission reached an interim agreement for revisions to the General Safety Regulation, which means new safety technologies will become mandatory in the region by 2022

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Report Scope:

Forecast Period : 2022-2030

CAGR: 11.3%

Base Year: 2022

Number of Pages: 250

The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Automotive Camera market.

Furthermore, the report provides details about the new players entering the market, entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.

Top Companies Operating in the Automotive Camera Market and Profiled in the Report are:

Intel Corporation (Mobileye, Inc.), Robert Bosch GmbH, Denso Corporation, Continental AG, Magna International, Inc., Valeo S.A., TRW Automotive U.S. LLC, Aptiv Plc, Autoliv, Inc., and Garmin, Ltd.

The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Automotive Camera industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.

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Emergen Research has segmented the global automotive camera market on the basis of vehicle type, technology, application, and region:

Vehicle Type Outlook (Revenue, USD Billion; 2019–2030)

Passenger Vehicles

Commercial Vehicles

Technology Outlook (Revenue, USD Billion; 2019–2030)

Infrared Camera

Thermal Camera

Digital Camera

Application Outlook (Revenue, USD Billion; 2019–2030)

Park Assist System

Lane Departure Warning System (LDWS)

Adaptive Cruise Control (ACC) System

Driver Monitoring System

Autonomous Emergency Braking (AEB) System

Blind Spot Detection (BSD)

Others

Some Key Highlights From the Report

Passenger vehicles segment is expected to account for a larger revenue share during the forecast period, owing to rapid urbanization and high population growth, along with improving living standards, and high purchasing power of people in many parts of the world.

Infrared camera segment is expected to register a rapid revenue CAGR during the forecast period, due to increasing need for detecting obstacles even from a long range.

Park assist system segment is expected to lead in terms of revenue contribution to the global market over the forecast period, due to increasing need for helping drivers to park vehicles with better precision.

North America market is expected to account for a larger revenue share during the forecast period, owing to increasing need for safety and government initiatives for promoting adoption of self-driving vehicles in countries in the region.

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Eric Lee
Emergen Research
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