Market Size of India Automotive Camera Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Automotive Camera Market Analysis
India automotive camera market is expected to register a CAGR of 15%, during the forecast period, 2020-2025.
- Increase in demand for automobiles, increasing concern for safety among customers, mandatory government norms, advanced innovations, rapid adoption of ADAS, and availability of low-cost parking cameras and sensors in the aftermarket are some of the major drivers of growth of Automotive Camera market.
- However, the high cost of the module has been slightly hindering the market growth. ADAS like Adaptive cruise control (ACC), Forward Collision Warning System (FCWS), and Automatic Emergency Braking (AEB) requires 3 to 6 cameras to be installed on the vehicle. These cameras in an automotive cost almost 8 times the module in a mobile phone camera, making it a challenge for entry into the market.
- Thermal camera and multi camera systems are expected to exhibit the highest growth rate in sensing camera and application segments during the forecast period.
- 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.
- India and China are emerging as automotive part manufacture hubs and suppliers for the western automakers, and this is expected to drive the market for cameras in the Asia-Pacific region over the coming five years. China's automotive camera market is expected to grow at a CAGR of 19.62% till 2022.
