According to MarkNtel Advisors study the Global Automotive Camera Market is estimated to grow at a CAGR of around 17.3% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Automotive Camera market

Global Automotive Camera Market Driver:

Surging Road Accidents Proliferating Automotive Camera Demand – There has been a significant surge in road accidents globally driven by poor driving, driving distractions, lack of proper road infrastructure, etc. Along with this, lack of proper signage & poorly maintained roads further aid in the increasing number of road accidents globally. For Instance, in 2022, according to OECD Statistics, about 1.3 million individuals are killed on the world's roads every year.

The increasing number of road accidents highlights the need for rapid and effective emergency responses such as automotive camera installation in vehicles. As road congestion & driver distractions continue to rise, governments & motorists alike are increasingly prioritizing technologies that mitigate risks and enhance situational awareness. Moreover, automotive car cameras offer a proactive approach by providing real-time visual feedback, aiding drivers in making informed decisions & mitigating potential hazards. Hence, increasing road accidents are necessitating the need for automotive cameras, thus driving the Global Automotive Camera Market growth.

Global Automotive Camera Market Challenge:

High Implementation Cost of Multi-Camera Systems to Impede Market Growth – The implementation of multi-camera systems in automobiles presents a significant challenge due to the high associated costs. Integrating multiple cameras into vehicles for functions like 360-degree views, parking assistance, and advanced driver assistance systems (ADAS) significantly increases production expenses. The need for high-quality camera components, sophisticated wiring & connectivity solutions, and advanced processing units also adds up to the total costs.

Additionally, the installation, calibration, and maintenance of multi-camera systems add to the overall cost burden for automakers. Moreover, as consumer expectations for safety & convenience features continue to rise, the demand for multi-camera systems intensifies, further amplifying cost pressures across the automotive industry & hindering the adoption of automotive cameras, further creating a challenge for the market growth.

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Scope of the Report and Automotive Camera Market Segmentation:

By Application

• Park Assist System- Market Size & Forecast 2019-2030F, USD Million
• Lane Departure Warning System- Market Size & Forecast 2019-2030F, USD Million
• Adaptive Cruise Control System - Market Size & Forecast 2019-2030F, USD Million
• Autonomous Emergency Braking System - Market Size & Forecast 2019-2030F, USD Million
• Blind Spot Detection - Market Size & Forecast 2019-2030F, USD Million
• Others (Pedestrian Detection System, Night Vision Camera, Road Sign Recognition)- Market Size & Forecast 2019-2030F, USD Million

By Technology

• Infrared Cameras- Market Size & Forecast 2019-2030F, USD Million
• Thermal Cameras- Market Size & Forecast 2019-2030F, USD Million
• Digital Cameras- Market Size & Forecast 2019-2030F, USD Million

By View Type

• Single View System- Market Size & Forecast 2019-2030F, USD Million
• Multi Camera System- Market Size & Forecast 2019-2030F, USD Million

By Vehicle

• Passenger Vehicle- Market Size & Forecast 2019-2030F, USD Million
• Light Commercial Vehicle- Market Size & Forecast 2019-2030F, USD Million
• Heavy Commercial Vehicle- Market Size & Forecast 2019-2030F, USD Million

Passenger Vehicle would account for the largest share of the Automotive Camera Market in the coming years.

By Sales Channel

• OEM- Market Size & Forecast 2019-2030F, USD Million
• Aftermarket- Market Size & Forecast 2019-2030F, USD Million

Automotive Camera Market Competitive Landscape

• Robert Bosch GmbH
• Continental AG
• Aptiv Plc
• Valeo Inc.
• Autoliv Inc.
• Magna International Inc.
• Mobileye N.V.
• Stonkam Co., Ltd.
• Gentex Corporation
• Ficosa International S.A.
• DENSO Corporation
• Integrated Micro-electronics, Inc.
• Panasonic Automotive Systems Europe GmbH
• ZF Friedrichshafen AG
• Garmin Ltd.

Automotive Camera Market Development:

• 2022: DENSO Corporation announced to launch Global Safety Package 3 with millimeter-wave radars sensors & vision sensors (cameras) to assist drivers.
• 2022: Continental AG, launched a new generation of automotive video cameras with advanced driver assisted functions.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is expected to hold a dominant share of the market owing to a strong automotive industry, with leading automakers investing heavily in advanced driver assistance systems and autonomous driving technologies, which are major drivers for automotive camera adoption.

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