New York, NY, March 28, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Automotive Camera Market by Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Vehicles), by Technology (Thermal Camera, Digital Camera, and Infrared Camera), by View Type (Single View System and Multi-Camera System), and by Application (Lane Departure Warning System, Driver Monitoring System, Park Assist System, Blind Spot Detection, Adaptive Cruise Control System, Autonomous Emergency Braking System, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global automotive camera market was valued at around USD 7.6 billion in 2018 and is expected to reach approximately USD 15.4 billion in 2025, at a CAGR of slightly above 10.64% between 2019 and 2025.
The onboard cameras developed for capturing HD quality videos for visibility enhancement of the driver is termed as an automotive camera. These cameras are designed specifically for the driver's safety and parking assistance. Additionally, automotive cameras play a crucial role in gathering critical evidence by extracting meaningful information from the captured images. Emergency recording, GPS track, multi-lens, wide angle lenses, infra-red lighting, photo mode, and loop recording are some important features driving the accelerating adoption rate of these automotive cameras globally.
Browse through 91 Tables & 33 Figures spread over 182 Pages and in-depth TOC on “Global Automotive Camera Market Size & Share 2018 Analysis: Industry Type, Segments, Technology Report and Forecast 2025”.
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The rising number of road accidents is driving the global automotive camera market worldwide. According to the World Health Organization, 1.35 million deaths were recorded at the growth rate of 18.2% globally due to road accidents in 2016. Thereby, the accelerating road fatalities have raised concerns for driver's safety and simultaneously escalated the market demand for automotive cameras. The rising adoption rate of ADAS globally has simultaneously escalated the penetration of automotive cameras, which is anticipated to drive this market over the forecast timeframe. In addition, speed camera alert feature holds significant contribution in driving the automotive camera market. However, the high initial cost required for the deployment of automotive cameras may hinder the market in the years ahead. Moreover, technological enhancements of automotive cameras, such as upgrading night vision quality, are estimated to offer new market opportunities in the upcoming years.
The global automotive camera market is segmented based on vehicle type, technology, view type, and application. By vehicle type, the market is classified into light commercial vehicles, heavy commercial vehicles, and passenger vehicles. The technology segment includes a thermal camera, digital camera, and infrared camera. The digital camera segment held a substantial market share in 2018. Single view system and multi-camera system form the view type segment of the global automotive camera market. By application, the market classified into lane departure warning system, driver monitoring system, personal lane departure warning system, blind spot detection, adaptive cruise control system, autonomous emergency braking system, and others. The blind spot detection segment is likely to grow notably in the future, owing to the high demand for ADAS applications.
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The automotive camera market in North America is driven by the rising number of mergers, acquisitions, and partnerships among the leading players. Leading automotive camera manufacturers in the region are acquiring and partnering with small- to medium-sized market players. In March 2017, Intel completed the acquisition of Mobileye Company for the development of self-driving automobile technology. Intel purchased 84% share of the company, and since then the company has been operating as Intel’s subsidiary. The U.S. is observed to dominate this region due to the strong market competitiveness among the prominent market players.
The presence of top automotive camera manufacturers is driving the European automotive camera market. Being the corporate headquarters of top market players, such as Robert Bosch and Continental, with a well-established automotive sector, Germany is projected to subsequently dominate in the European market. The German automotive industry generated over USD 483.5 billion in 2017. Furthermore, the rising number of advanced driver assistance systems (ADAS) deployment in European countries is simultaneously driving the market to a great extent.
Browse the full “Automotive Camera Market by Vehicle Type (Light Commercial Vehicles, Heavy Commercial Vehicles, and Passenger Vehicles), by Technology (Thermal Camera, Digital Camera, and Infrared Camera), by View Type (Single View System and Multi-Camera System), and by Application (Lane Departure Warning System, Driver Monitoring System, Park Assist System, Blind Spot Detection, Adaptive Cruise Control System, Autonomous Emergency Braking System, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/automotive-camera-market
During the forecast timeframe, market demand of automotive cameras is anticipated to grow rapidly in the Asia Pacific due to the flourishing automotive sector in developing Asian economies, such as India and China. In 2017, Asia Pacific sales of car and low commercial vehicles (LCV) grew at a rate of 5.2%. India is observed to be the major contributor to this market, witnessing the highest car and LCV sales growth in the automotive sector. China is projected to dominate the Asia Pacific automotive camera market, due to its flourishing automobile industry.
Economic stabilization in countries of Latin America, such as Brazil, has increased the overall automotive spending in the region. Accelerating automobile spending has escalated the market demand for the automotive camera. The Middle Eastern and African region is observed to encounter the maximum number of road accident deaths. According to a recent survey, car accident death rate per 100,000 inhabitants accounted for 73.4.
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Some key players of the global automotive camera market are Robert Bosch GmbH, Clarion, Magna International Inc., Autoliv, Continental AG, Ficosa, Automation Engineering Inc., Intel, OmniVision Technologies, and Aptiv PLC, among others.
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This report segments the global automotive camera market into:
Automotive Camera Market: Vehicle Type Analysis
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Passenger Vehicles
Automotive Camera Market: Technology Analysis
- Thermal Camera
- Digital Camera
- Infrared Camera
Automotive Camera Market: View Type Analysis
- Single View System
- Multi-Camera System
Automotive Camera Market: Application Analysis
- Lane Departure Warning System
- Driver Monitoring System
- Park Assist System
- Blind Spot Detection
- Adaptive Cruise Control System
- Autonomous Emergency Braking System
- Others
Automotive Camera Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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