Market Size of China Automotive Camera Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 17.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Automotive Camera Market Analysis
The China automotive camera market is expected to register a CAGR of over 17% during the forecasted period (2020 - 2025)
- The country holds a significant share in the automotive camera market of the Asia-Pacific region. 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 China is expected to continue the rapid technology evolution over the next few years.
- China is the world's largest automotive manufacturing and automotive market since 2009. In 2018 alone China accounted for nearly 30% of worldwide car production. Even after experiencing economic hiccup and economic slowdown, The Chinese economy is expected to slowly grow during the forecasted period.
- The disposable income of middle-class consumers is also increasing. This, in turn, will have positive impact on the demand for vehicles. Over the past five years, owing to the low production costs in the country, vehicle production has gone up drastically. Moreover, the Chinese government has also cut down the taxes on cars, to increase cars' sales and production.
