Automotive cameras are used for different purposes such as for parking purpose, cruise control and for night vision. It is anticipated that the automotive camera market will grow at a healthy CAGR and this could be attributed to the higher scope of application of sensor cameras in the advanced driver assistance systems.
The market for cameras in passenger cars dominated the overall automotive market.
The Automotive Camera Market is growing rapidly over 19% of CAGR and is expected to reach at approx. USD 19 billion by the end of forecast period.
Increasing demand for various cameras including thermal camera, infrared camera and digital camera in commercial vehicles and passenger cars is expected to create immense industry potential. However, high cost of the automotive camera is one restraining factor.
The prominent players in over the automotive camera market are – ADA-ES Inc. (U.S.), Allied Vision Technologies (Germany), Balluf (Germany), Basler AG (Germany), Autoliv, Inc (Sweden), Delhi Automotive PLC (U.K.), Denso Corporation (Japan), Robert Bosch GmBH (Germany), Valeo S.A. (France), TRW Automotive (U.S.) among others
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Automotive Camera Market Segmentation
The automotive camera market has been segmented on the basis of application type, vehicle type, technology and regional. The application type market segmentation comprises of lane departure warning, adaptive cruise control, blind spot detection, park assist system, night vision, pedestrian detection, road sign recognition and driver monitoring.
In lane departure warning system, the mechanism warns the driver when the vehicle begins to move out of its lane on freeways and arterial roads. Blind Spot Detection assists the driver by warning of other cars in the blind spot region. It senses the rear side territory of the vehicle when it is traveling over 20 mph. A visual alert is provided if the turn signal is activated and another vehicle in the blind spot is sensed.
Market Research Analysis:
The regional analysis of automotive camera market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America would dominate the automotive camera market owing to high speed connectivity and is expected to witness significant gains on account of growing demand of luxury vehicles in U.S., Canada, and Mexico.
Europe is also prominent market for product and will show immense growth in the installation of safety technologies in the passenger cars in Germany, UK, France, and Italy.
Asia Pacific will witness significant growth mainly in China, India, Japan, Thailand, Malaysia and South Korea in light of rapid industrialization along with increasing number of automobile production. In addition to this, rising disposable income along with high standard of living of the consumers will propel growth of automotive camera market.
Thompson Ramo Wooldridge Automotive developed advanced camera solutions for safety systems including following distance indication (FDI), forward collision warning (FCW) and lane departure warning (LDW).
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