South Korea Automotive Camera Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The South Korea Automotive Camera Market is segmented by Vehicle Type (Passenger Cars and Commercial Vehicles), Type (Viewing Camera and Sensing Camera), and Application (ADAS and Parking).

South Korea Automotive Camera Market Size

South Korea Automotive Camera Market
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Study Period 2018 - 2028
Base Year For Estimation 2022
Forecast Data Period 2023 - 2028
Historical Data Period 2018 - 2021
CAGR > 15.00 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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South Korea Automotive Camera Market Analysis

The South Korean automotive camera market is expected to register a CAGR of 15%, during the forecast period, 2020-2025.

  • Factors such as increasing market penetration of premium cars and safety installations per vehicle are accelerating the demand for automotive camera systems. The automotive industry in South Korea is expected to continue with rapid technology evolution over the next few years.
  • The latest advancements in the camera technology such as 360 degrees camera that stitch the images from multiple cameras and display a consolidated image on a split screen, automatic emergency braking, adaptive cruise control, and collision warning system are gaining popularity. Mass production of camera units is expected to bring down the price drastically. However, due to advanced technology requirements for production, new player penetration into the market remains a challenge.
  • Over the past few years, there has been a decline in the global automotive sales as well as in this region which is further affected by COVID-19. South Korea is also one of the largest exporters of cars and automotive components in Asia-pacific. Europe and the United States account for more than 70% of country's automakers' exports. However, the increasing in production is expected to be seen during the forecasted period.

South Korea Automotive Camera Market Trends

This section covers the major market trends shaping the South Korea Automotive Camera Market according to our research experts:

Sensing Camera to Witness the Fastest Growth

Systems using remote sensing cameras are gradually becoming an integral part of an active safety system in vehicles. Sensing cameras provide a higher performance level than general-purpose driving cameras while also meeting the required automotive quality standards as cost-effective solutions. These are intelligent safety systems with two key components: the remote sensors (using remote sensing technologies) and the processing computer. 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.

With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. Owing to the aforementioned trends, the number of automotive camera shipments is expected to exceed 170 million units globally by 2020, and the ADAS camera market is expected to cross USD 7 billion by 2021.

key market trend 1

ADAS will Drive the Automotive Camera Market

The demand for the automotive camera is rapidly increasing due to its various applications in different ADAS functions. Also, it will continue its dominance during the forecast period. Major players in the market are introducing the camera system's latest technology to stay ahead of their competitors. For instance, in 2019, FLIR launched its latest thermal enhanced self-driving test vehicle, which demonstrated how thermal cameras could improve the safety of advanced driver-assistance systems (ADAS) and fill performance gaps in autonomous vehicles.

Along with ADAS features, government and industry participants introduce various initiatives and enter into a partnership for autonomous vehicles in the country. For instance,

The South Korean government is currently conducting preliminary feasibility studies for its level 4 self-driving project underway from 2021 to 2027 and will launch a flying car demonstration project in 2025.

Also, the government will supply at least KRW 2 trillion for increasing the degree of independence in terms of major materials and parts required for future cars from 50% to 80% while helping training 2,000 researchers and engineers by 2025.

In 2020, BlackBerry Ltd. announced a partnership with a leader in AI-based camera perception technology, StradVision. StrandVision will utilize the QNX Software Development Platform in several next-generation Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV) from various South Korean automakers.

South Korea Automotive Camera Market

South Korea Automotive Camera Industry Overview

The South Korea Automotive Camera Market is dominated by various international and regional players such as Garmin Ltd., Panasonic Corporation, Continental AG, and Denso Corporation. Major players in the market are launching advanced camera technology to stay ahead of their competitors.

  • In July 2020, ZF launched its S-Cam4.8 with enhanced vision technology from Mobileye, an Intel Company. The camera is also the first-ever to offer the capability of a 100-degree horizontal field of view.
  • 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 allowed drivers to confidently see a wide, clear view from the backup camera on the navigation display to help encourage a safer driving experience.

South Korea Automotive Camera Market Leaders

  1. Garmin Ltd

  2. Continental AG

  3. Panasonic Corporation

  4. Bosch Mobility Solutions

  5. Denso Corporation

*Disclaimer: Major Players sorted in no particular order

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South Korea Automotive Camera Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Vehicle Type

      1. 5.1.1 Passenger Cars

      2. 5.1.2 Commercial Vehicles

    2. 5.2 By Type

      1. 5.2.1 Viewing Camera

      2. 5.2.2 Sensing Camera

    3. 5.3 By Application Type

      1. 5.3.1 ADAS

      2. 5.3.2 Parking


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Magna International Inc.

      2. 6.2.2 Continental AG

      3. 6.2.3 ZF Friedrichshafen AG

      4. 6.2.4 Hella KGaA Hueck & Co.

      5. 6.2.5 Valeo SA

      6. 6.2.6 Gentex Corporation

      7. 6.2.7 Denso Corporation

      8. 6.2.8 Panasonic Corporation

      9. 6.2.9 Garmin Ltd.

      10. 6.2.10 Robert Bosch GmbH


South Korea Automotive Camera Industry Segmentation

The South Korea automotive camera market covers the latest trends and technological developments in the automotive camera market, demand of the vehicle type, camera type, application type, and market share of major automotive camera-producing companies.

By Vehicle Type
Passenger Cars
Commercial Vehicles
By Type
Viewing Camera
Sensing Camera
By Application Type

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South Korea Automotive Camera Market Research FAQs

The South Korea Automotive Camera Market is projected to register a CAGR of greater than 15% during the forecast period (2023-2028).

Garmin Ltd, Continental AG, Panasonic Corporation, Bosch Mobility Solutions and Denso Corporation are the major companies operating in the South Korea Automotive Camera Market.

South Korea Automotive Camera Industry Report

Statistics for the 2023 South Korea Automotive Camera market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Automotive Camera analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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