London, Oct. 12, 2022 (GLOBE NEWSWIRE) -- Rising demand for vehicle safety features is predominantly driving the growth of global automotive camera cleaning system market. Fairfield Market Research in one of its newly released reports provides detailed growth analysis and forecast of global automotive camera cleaning system market during 2021 – 2027. Worldwide automotive camera cleaning system sales will demonstrate impressive growth during the stipulated period, says the report, exhibiting a whopping 29% CAGR. The report suggests that the rising concerns regarding driver’s safety, and the safeguarding of passengers as well as pedestrians will remain the key driving force for automotive camera cleaning system market over the period of projection. is poised to witness stupendous growth prospects during 2021-2027.
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Key Research Highlights
- Automotive camera cleaning system market is likely to jump from US$368.7 Mn attained in 2021 to US$1,277.5 Mn by 2027 end
- Europe, and North America account for a collective revenue share of around 60%, whereas Asia Pacific represents over 25% of the global market value
- Parking is poised to remain the dominant application area, accounting for more than 63% share in market revenue
Insights into Segmental Analysis
Fixed nozzle type cleaning systems hold the lion’s share in global automotive camera clwaning system market value. While worldwide sales of fixed nozzle type camera cleaning systems contributed over half the overall market value in 2021, the report attributes this high sales potential to their user-friendly features, and higher affordability. The market analysis based on application reveals that among front safety monitoring, parking, night vision, interjection cameras, central monitoring system, and mirror, the application for parking will continue to be the leading area throughout the forecast period, representing more than 63% contributing toward the global automotive camera cleaning system market valuation. The report further indicates higher sales through OEMs over that through the third-party participants in the aftermarket.
Key Report Highlights
- Consistently rising need for higher operational accuracy will create opportunities for providers of sensors, as well as advanced solutions like automotive camera cleaning systems
- Unprecedented growth in adoption of vehicles with advanced driver assistance systems (ADAS) will favour market expansion
- The expensive price point has been limiting the pace of commercialization, which is likely to remain a key impediment facing automotive camera cleaning system market
Insights into Regional Analysis
On the back of a strong and established vehicle safety guideline and standards, developed regions of Europe, and North America remain at the forefront of demand generation in global automotive camera cleaning system market. Europe especially remain in the bandwagon with more than 35% share in overall market revenue, says the report. While this is clearly attributable to the mandatory guidelines regarding equipping the vehicles with ADAS sensors that eventually require camera cleaning systems as well. Greater interest in purchasing feature-rich cars, and higher spending power of consumers continue to uphold the dominant position of European, and North American markets in global automotive camera cleaning system space. Both the markets hold a spectrum of business opportunities for automakers, as well as auto component manufacturers. On the other side, the expensive costs associated with a host of advanced car cleaning systems and sensors continue to be a substantial challenge across the markets in Asia Pacific. However, the market in Asia Pacific is expected to remain the second largest pocket for investors as it accounts for over a fourth of the global market value.
Key Companies in Global Automotive Camera Cleaning System Market
The report sheds light on the strategic details of some of the significant players steering the global automotive camera cleaning system market competition. The analysis reveals that the competitive strategies of the most market leaders will continue to revolve around new launches, and competitive costs. Some of the profiled players covered in the report include Denso Corporation, Continental AG, Ficosa Internacional SA, dlhBOWLES, Panasonic Corp., MS FOSTER & ASSOCIATES, INC., KAUTEX TEXTRON GMBH & CO. KG, MAGNA ELECTRONICS INC., and Valeo SA.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2021 | |
| Forecast Year | 2021 – 2027 | |
| Market Size in 2020 | US$368.7 Mn | |
| Estimated Market Size in 2027 | US$1,277.5 Mn | |
| CAGR | 29.00 % | |
| Key Players | Denso Corporation, Continental AG, Ficosa Internacional SA, dlhBOWLES, Panasonic Corp., MS FOSTER & ASSOCIATES, INC., KAUTEX TEXTRON GMBH & CO. KG, MAGNA ELECTRONICS INC., Valeo SA | |
Market Segmentation
Application Coverage
- Parking
- Front Safety Monitoring
- Interjection
- Night Vision
- Mirror
- Central Monitoring System (CMS)
Vehicle Coverage
- Passenger Vehicles (PV)
- Entry
- Mid-Size
- Premium/ Luxury
- Commercial Vehicles (CV)
Nozzle Coverage
- Fixed Type
- Telescopic Type
- Nano Type
Sales Channel
- OEM
- Aftermarket
Geographical Coverage
- North America
- Europe
- Latin America
- Middle East & Africa
Leading Companies
- Continental AG
- Denso Corporation
- dlhBOWLES
- Ficosa Internacional SA
- KAUTEX TEXTRON GMBH & CO. KG
- MAGNA ELECTRONICS INC.
- MS FOSTER & ASSOCIATES, INC.
- Panasonic Corp.
- Shenzhen Mingshang Industrial Co., Ltd.
- Valeo SA
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Technology-wise Analysis
- Application-wise Analysis
- Region-wise Analysis
- Country-wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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