Automotive Camera Market - Growth, Trends, COVID-19 Impact and Forecasts (2021 - 2026)

The Automotive Camera Market is segmented by Vehicle Type (Passenger Vehicle and commercial vehicles), Type (Viewing Camera and Sensing Camera), Technology(Digital camera, Infrared, Thermal), Application (ADAS, Parking assist and others), and Geography (North America, Europe, Asia-Pacific and Rest of the world). The Report offers market size and forecast for Automotive Camera Market in value (USD billion) for all the above segments.

Market Snapshot

Automotive Camera Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >9 %

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Market Overview

The Automotive Camera market was valued at USD 5 billion in 2020 and is expected to reach USD 8 billion by 2026 registering a CAGR of about 9% during the forecast period (2021 - 2026).

The COVID-19 pandemic has become a major concern for automotive stakeholders. Suspension of vehicle production and supply disruptions have brought the automotive industry to a halt. The automotive camera market, however, is expected to witness a significant boost from 2022, owing to the mandates by different countries. Reduced vehicle sales and abrupt stoppage in the development of new automotive technologies expected to result in sluggish growth of the automotive camera market in 2021.

For instance, Aptiv’s advanced safety and user segment logged revenue of USD 902 million in Q1 2020 compared to USD 1,023 million in Q1 2019. The company suspended production in China, followed by North America and Europe. Camera providers are facing disruptions in supply chains as countries are in a state of lockdown to prevent the spread of the disease.

However, market is expected to set back to normal condition as demand for drive assistance sensors and aftermarket sales of parking cameras is increasing significantly. Automotive cameras are used for various applications in automobiles, especially in passenger vehicles, such as night vision systems, cruiser control systems, etc. Latest advancements in the camera technology such as 360 degrees camera that stitch the images from multiple cameras and display a consolidated image on split screen and mass production of these units are expected to bring down the price drastically, creating a scope of venture in the sector.

North America is expected to dominate the automotive camera market owing to increasing demand for luxury vehicles in the U.S. and Canada. This, coupled with increasing installation of advanced driver-assistance systems (ADAS), is estimated to boost the demand for automotive camera market in the upcoming years. Europe holds a prominent share in the automotive camera market due to the presence of a large number of automobile manufacturers in the region. Asia Pacific is also expected to contribute a considerable share throughout the forecast period.

Scope of the Report

Automotive Camera is a camera installed on the front side, rear side, or inside a vehicle for safety purposes. Camera modules contain image sensors that are coupled with electronic components in vehicles. The Automotive Camera Market report covers the latest trends, covid-19 impact followed by technological developments in the market. The scope of the report covers segmentation based on Vehicle Type, type, Technology, Application, and Geography.

By Vehicle Type, the market is segmented into Passenger vehicles and commercial vehicles. By Type, the market is segmented into Viewing Camera and Sensing Camera. By Technology market is segmented into Digital camera, Infrared, Thermal. By Application, the market is segmented into ADAS, Parking assist, and others. By Geography the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the world. For each segment, the market sizing and forecast have been done on basis of value (USD billion).

Vehicle Type
Passenger Vehicles
Commercial Vehicles
Type
Viewing Camera
Sensing Camera
Technology
Digital Camera
Infrared
Thermal
Application
ADAS
Parking assist
Others
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Rest of the World
South America
Middle East &Africa

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Key Market Trends

Innovations To Lead Development Of Automotive Camera Market

The sensing cameras are gradually becoming an integral part of an active safety system in vehicles. The growth can be attributed to the increase in safety concerns of the passengers, and strict government initiatives. Sensing cameras also provide a higher level of performance than general-purpose driving cameras by maintaining quality standards as cost-effective solutions.

These are intelligent safety systems with two key components: A remote sensor is a device that collects data about real-world conditions through sensors, such as radar, ultrasonic sensors, and cameras. The processing computer receives data from these cameras and sensors then makes the decision and sends commands to the vehicle subsystems. For instance,

  • In March 2019 Garmin Ltd. had announced a fresh iteration to its backup camera solution with the all-new BC 40, the company’s first wireless backup camera with a compatible Wi-Fi enabled Garmin GPS navigator and allows drivers to confidently see a wide, clear view from the backup camera on the navigation display to help encourage a safer driving experience.

With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. For instance,

  • In March 2020 BMW has launched plug-in hybrid 330e and 330e xDrive. Its ADAS includes active cruise control with stop and go, which can accelerate and slows automatically to maintain the desired speed set by the driver. It also has standard features such as active guard, frontal collision warning, city collision mitigation, and lane departure warning.

Sensing cameras provide a higher level of performance than general-purpose driving cameras, while also meeting the required automotive quality standards as cost-effective solutions.With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing. 

Automotive Camera Market Revenue Share

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Asia Pacific Region Expected To Have Fastest Growth

The Asia Pacific region is expected to be the fastest-growing market during the forecast period. Vehicle hybridization and electrification, increasing production of electric vehicles, and increasing sales of passenger vehicles are the key factors driving the automotive camera market in the Asia Pacific region.

 Several original equipment manufacturers have shifted their automobile manufacturing plants to countries because of the high-growth opportunities. Rising population and government policies promoting industrial growth have made the Asia Pacific region a perfect destination for automobile manufacturers to set up their facilities. 

These factors have helped make Asia Pacific the largest automotive market with increasing sales and production. The implementation of new technologies, the establishment of additional manufacturing plants, and the creation of value-added supply chains between OEMs and component manufacturers have created a platform for future growth in this region.

The outbreak of the virus in China has disrupted the global automotive supply chain as the country provides more than 75% of the supplies to the world. According to the United Nations Conference on Trade and Development (UNCTAD), there would be a reduction by 2% in exports of parts and other intermediate automotive inputs from China to automotive manufacturers in the EU, North America, Japan, the Republic of Korea, and other major automotive producing economies highlighting dependence on Asia pacific for global automotive needs. 

Asia Pacific region comprises of geographies such as China, India, Indonesia and Thailand where disposable income of customers is increasing.

Automotive Camera Market Growth Rate By Region

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Competitive Landscape

The automotive camera market is highly fragmented, due to the presence of many regional players. However, some of the major players, like Garmin Ltd, Panasonic Corporation, Continental AG, Autoliv Inc., Bosch Mobility Solutions and Magna international, among others, have captured significant shares in the market. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability. For instance,

  • In September 2019, Bosch has developed an MPC3 mono video camera for applications such as advanced driver assistance system (ADAS) and autonomous driving. The new camera utilizes a multi-path approach and artificial intelligence (AI) for more efficient recognition.
  • In August 2019, Magna opened a new USD 50 million manufacturing center near Flint, Michigan, to cater to the increased demand for digital cameras from customers.
  • In August 2019, 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 as well as surrounding vehicles.

Recent Developments

  • In February 2020, Continental announced the construction of a new plant in New Braunfels in Texas, US. The purpose of the new building is to expand its capacity for the production of radar sensors in advanced driver assistance systems (ADAS).
  • In June 2020, Omnivision launced the world's first image sensor for vehicle cameras.It offers a combination of STEREO flicker mitigation (LFM) and 3 micron pixel size camera integrated with 140db HDR accomodating features such as lens correction and defect pixel correction.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Bargaining power of suppliers

      2. 4.3.2 Bargaining Power of Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Vehicle Type

      1. 5.1.1 Passenger Vehicles

      2. 5.1.2 Commercial Vehicles

    2. 5.2 Type

      1. 5.2.1 Viewing Camera

      2. 5.2.2 Sensing Camera

    3. 5.3 Technology

      1. 5.3.1 Digital Camera

      2. 5.3.2 Infrared

      3. 5.3.3 Thermal

    4. 5.4 Application

      1. 5.4.1 ADAS

      2. 5.4.2 Parking assist

      3. 5.4.3 Others

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 France

        3. 5.5.2.3 United Kingdom

        4. 5.5.2.4 Rest of Europe

      3. 5.5.3 Asia-Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 India

        3. 5.5.3.3 Japan

        4. 5.5.3.4 Rest of Asia-Pacific

      4. 5.5.4 Rest of the World

        1. 5.5.4.1 South America

        2. 5.5.4.2 Middle East &Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Gentex Corporation

      2. 6.2.2 Continental AG

      3. 6.2.3 Autoliv Inc.

      4. 6.2.4 Hella KGaA Hueck & Co.

      5. 6.2.5 Bosch Mobility Solutions

      6. 6.2.6 Valeo SA

      7. 6.2.7 Magna International Inc.

      8. 6.2.8 ZF Friedrichshafen AG

      9. 6.2.9 Panasonic corporation

      10. 6.2.10 Garmin Ltd

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Automotive Camera Market market is studied from 2018 - 2026.

The Automotive Camera Market is growing at a CAGR of >9% over the next 5 years.

The Automotive Camera Market is valued at 6 Billion USD in 2018.

The Automotive Camera Market is valued at 8 Billion USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Garmin Ltd, Continental AG, Panasonic Corporation, Magna International Inc., Bosch Mobility Solutions are the major companies operating in Automotive Camera Market.

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