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

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).

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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. 

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