Dublin, April 05, 2023 (GLOBE NEWSWIRE) -- The "United Kingdom Automotive Camera Market By Camera Type, By Camera Class, By Vehicle Type, By Application, By Technology, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
United Kingdom automotive camera market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027
The market growth can be attributed to the increasing vehicle fleet in the country. The value of the United Kingdom automotive camera market in the year 2021 was approximately USD120 million.
Surging demands for safety feature enhancement in passenger cars, along with strict regulations for road safety from the government, further drives the growth of the United Kingdom automotive camera market in the upcoming five years. Rapidly increasing demands for electric vehicles and their higher efficiency toward fuel consumption, along with advanced safety features, further support the growth of the United Kingdom automotive camera market in the next five years.
Onboard cameras implanted on the vehicle are designed to capture the highest quality video such that visibility of the road enhances for the driver to focus on the obstructions while driving, is an automotive camera.
These cameras have certain important functions, like assisting the driver in parking the vehicle, assessing vehicle performance, for night vision, and gathering critical evidence in case of any road accidents and disputes. These cameras also come with camera link technologies that enhance the performance of the camera, thus making it highly advantageous for the automotive.
Rising Vehicle Fleet Promises Market Growth
Rapidly increasing demands for passenger cars and light commercial vehicles, along with the increasing sales of the same, drive the growth of the United Kingdom automotive cameras market in the upcoming five years.
With higher disposable income, the population is highly inclined toward ownership of their personal vehicle, thereby increasing the sales of the passenger card and, thus, the growth of the United Kingdom automotive camera market in the next five years.
Rising concerns regarding safe driving and security against theft along with on-road disputes further enhance the growth of the United Kingdom automotive camera market in the future five years.
Electric Vehicle Sales Drive Market Growth
The United Kingdom has an established market for electric vehicles. Light commercial electric vehicles, electric passenger cars, and hybrid cars are gaining popularity further and are responsible for the growth of the United Kingdom automotive cameras market in the future five years.
Technological advancement and growing development through extensive research and growing investment in the advancement of the electric vehicle will further facilitate the growth of the United Kingdom automotive cameras market in the next five years. More than 450,000 electric cars are currently running in the country.
While the demand for hybrid vehicles has also increased, which provides a better shift in consumer preferences toward electric vehicles, there were over 775,000 hybrid vehicles as of April 2022. Further increase is anticipated due to rising awareness among the population regarding the harmful effects of carbon-burning fuels and its exhaustion that would affect the environment and energy consumption in the forecast years.
Increased use of artificial intelligence along with the internet of things aiding driver safety and assisting drivers in vehicle parking, and driving through difficult terrain, also add to the growth of the United Kingdom automotive cameras market in the upcoming five years.
Competitive Landscape
Detailed analysis of the major companies present in United Kingdom automotive camera market.
- Robert Bosch GmbH
- Valeo SA
- Denso Corporation
- Autoliv Inc.
- Omni Vision Technologies Inc.
- Gentex Corporation
- Continental AG
- Aptiv Plc
- Magna International Inc.
- Aei Inc.
Report Scope:
United Kingdom Automotive Camera Market, By Camera Type:
- Monocular Camera
- Stereo Camera
United Kingdom Automotive Camera Market, By Camera Class:
- Entry level
- Medium
- Premium
United Kingdom Automotive Camera Market, By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicle (LCV)
- Medium & Heavy Commercial Vehicle (M&HCV)
United Kingdom Automotive Camera Market, By Application:
- Rear View Assist
- Advanced Driver Assistance System (ADAS)
United Kingdom Automotive Camera Market, By Technology:
- Digital Cameras
- Thermal Cameras
United Kingdom Automotive Camera Market, By Region:
- London
- East Anglia
- Southwest
- Southeast
- Scotland
- East Midlands
- Yorkshire & Humberside
For more information about this report visit https://www.researchandmarkets.com/r/tyjfj5
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