Market Snapshot
| Study Period: | 2018-2027 |
| Base Year: | 2021 |
| 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 it 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 is a major concern for automotive stakeholders. The suspension of vehicle production and supply disruptions brought the automotive industry to a halt. However, the automotive camera market is expected to witness a significant boost from 2022, owing to the mandates by different countries. The reduced vehicle sales and abrupt stoppage in developing new automotive technologies are expected to result in sluggish growth of the automotive camera market in 2021.
Aptiv’s advanced safety and user segment accounted for 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 face disruptions in supply chains, as countries are in a state of lockdown to prevent the spread of the disease.
However, the market is expected to set back to normal, as the demand for driver assistance sensors and aftermarket sales of parking cameras is increasing significantly. Automotive cameras are used for various automobiles, especially in passenger vehicles such as night vision systems and cruiser control systems. The latest advancements in camera technology, such as 360 degrees cameras that stitch the images from multiple cameras and display a consolidated image on split screen and mass production of these units, are expected to decrease the price drastically, creating a scope of venture in the sector.
North America is expected to dominate the automotive camera market, owing to the increasing demand for luxury vehicles in the United States and Canada. The increasing installation of advanced driver-assistance systems (ADAS) is estimated to boost the demand for automotive cameras in the coming years. Europe holds a prominent share in the automotive camera market due to the presence of many automobile manufacturers in the region. Asia-Pacific is also expected to contribute to a considerable share throughout the forecast period.
Scope of the Report
An automotive camera is 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, and technological developments in the market. The scope of the report covers segmentation based on vehicle type, type, technology, applications, and geography.
By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By type, the market is segmented into viewing cameras and sensing cameras. By technology, the market is segmented into digital cameras, infrared, and thermal. By application, the market is segmented into ADAS, parking assist, and other applications. 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 are based on value (USD billion).
| Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| Type | |
| Viewing Camera | |
| Sensing Camera |
| Technology | |
| Digital Camera | |
| Infrared | |
| Thermal |
| Application | |
| ADAS | |
| Parking Assist | |
| Other Applications |
| Geography | |||||||
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Key Market Trends
Innovations to Lead the Development of the Automotive Camera Market
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 then the sensor makes the decision and sends commands to the vehicle subsystems.
- In March 2019, Garmin Ltd 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 that allows drivers to confidently see a wide and 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 is increasing significantly.
- In March 2020, BMW launched plug-in hybrid 330e and 330e xDrive. Its ADAS includes active cruise control with stop and go, which can accelerate and slow 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.
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Asia-Pacific Expected to Experience the Fastest Growth
Asia-Pacific 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 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.
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Competitive Landscape
The automotive camera market is highly fragmented due to the presence of many regional players. However, some major players, like Garmin Ltd, Panasonic Corporation, Continental AG, Autoliv Inc., Bosch Mobility Solutions, and Magna International, captured significant shares in the market. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability.
- In September 2019, Bosch 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 and the surrounding vehicles.
Recent Developments
- In February 2020, Continental announced the construction of a new plant in New Braunfels in Texas, United States. The purpose of the new building is to expand its capacity to produce radar sensors in advanced driver assistance systems (ADAS).
- In June 2020, 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.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining power of suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Vehicle Type
5.1.1 Passenger Vehicles
5.1.2 Commercial Vehicles
5.2 Type
5.2.1 Viewing Camera
5.2.2 Sensing Camera
5.3 Technology
5.3.1 Digital Camera
5.3.2 Infrared
5.3.3 Thermal
5.4 Application
5.4.1 ADAS
5.4.2 Parking Assist
5.4.3 Other Applications
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Rest of North America
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 France
5.5.2.3 United Kingdom
5.5.2.4 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 India
5.5.3.3 Japan
5.5.3.4 South-Korea
5.5.3.5 Rest of Asia-Pacific
5.5.4 Rest of the World
5.5.4.1 South America
5.5.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles*
6.2.1 Gentex Corporation
6.2.2 Continental AG
6.2.3 Autoliv Inc.
6.2.4 Hella KGaA Hueck & Co.
6.2.5 Bosch Mobility Solutions
6.2.6 Valeo SA
6.2.7 Magna International Inc.
6.2.8 ZF Friedrichshafen AG
6.2.9 Panasonic corporation
6.2.10 Garmin Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Camera Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Camera Market?
The Automotive Camera Market is growing at a CAGR of >9% over the next 5 years.
What is Automotive Camera Market size in 2018?
The Automotive Camera Market is valued at 6 Billion USD in 2018.
What is Automotive Camera Market size in 2026?
The Automotive Camera Market is valued at 8 Billion USD in 2026.
Which region has highest growth rate in Automotive Camera Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Camera Market?
North America holds highest share in 2020.
Who are the key players in Automotive Camera Market?
Garmin Ltd, Continental AG, Panasonic Corporation, Magna International Inc., Bosch Mobility Solutions are the major companies operating in Automotive Camera Market.
