Market Size of Canada Automotive Camera Industry
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 6.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Automotive Camera Market Analysis
The Canada automotive camera market is expected to register a CAGR of over 6% during the forecasted period (2020 - 2025)
- This region holds a significant share in the automotive camera market of the world. Factors such as increasing market penetration of premium cars and safety installations per vehicle are accelerating the demand for automotive night vision systems and driver monitoring systems. The automotive industry in Canada region is expected to continue the rapid technology evolution over the next few years, following the active safety trend evident in North America and Europe.
- 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, automatic emergency braking, adaptive cruise control and collision warning system are gaining popularity. Mass production of camera units are expected to bring down the price drastically. However due to advance technology requirements for production, new player penetration into market remains a challenge.
- Over the past few years, there has been a decline in the automotive sales in this region especially followed by COVID-19 which had huge impact on the production. The Canadian government has cut down the taxes on cars to increase the sales. Canada is also one of the largest exporters of cars and automotive components in North America. The trend of increasing car production is expected to be seen during the forecasted period (2020 - 2025).
