CHICAGO, June 20, 2024 /PRNewswire/ — Automotive Camera Market size is projected to grow from USD 8.3 Billion in 2024 to USD 16.0 Billion by 2030, at a CAGR of 11.5%., according to a new report by MarketsandMarkets. Government regulations regarding vehicle occupants and pedestrian safety is driving the growth of the automotive camera market on a global scale. Initiatives aimed at enhancing road safety, reducing traffic congestion, and supporting autonomous vehicle technology require sophisticated camera systems for accurate detection and monitoring. As regions prioritize the development of autonomous vehicles to improve urban mobility and safety, the demand for automotive cameras, including rearview, surround-view, and driver monitoring cameras, is steadily increasing.

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Automotive Camera Market Scope:

The passenger car segment is anticipated to show the largest growth in the global automotive camera market.

The passenger car segment of the automotive camera market is expected to experience the highest growth during the forecast period. The rising demand for ADAS is a crucial factor behind the increasing use of cameras in passenger cars. ADAS technologies, such as lane departure warnings and forward collision alerts, depend on cameras to identify and react to potential dangers. Additionally, global governmental regulations are moving toward making ADAS mandatory in passenger cars. For example, the EU has expanded its requirements to include features like the Advanced Emergency Braking System (AEBS) and the Lane Departure Warning (LDW) system. These features have been mandated in EU countries from July 2022. Such regulatory measures are likely to further stimulate the market for automotive cameras in passenger cars.

Thermal segment is anticipated to be the fastest growing technology in the global automotive camera market.

Thermal cameras in cars work by detecting heat emitted by objects, allowing them to capture images even in complete darkness. These cameras are essential for ADAS, including night vision systems and pedestrian detection. In night vision systems, thermal cameras enhance driving safety by detecting the heat signatures of objects, such as pedestrians or animals, and providing visual alerts to the driver. This significantly reduces the risk of accidents in low-visibility conditions like darkness, fog, rain, or snow. Thermal cameras are also used in pedestrian detection systems, where they identify the heat emitted by people, helping prevent collisions by alerting the driver to their presence. This technology is particularly useful in urban environments or areas with heavy foot traffic.

The primary difference between thermal and infrared cameras lies in the type of infrared light they use. Thermal imaging systems utilize mid or long-wavelength infrared light, whereas infrared systems use short-wavelength infrared light. Thermal imagers are passive devices that detect variations in heat but cannot sense reflected light. Because they operate in a longer infrared wavelength spectrum than active infrared systems, they remain unaffected by incoming headlights, fog, haze, and dust. This capability allows thermal cameras to detect temperature changes, making them ideal for identifying heat signatures from objects or people in complete darkness. While both thermal and infrared cameras detect heat, thermal cameras are particularly advantageous for their ability to function under a wider range of conditions.

Germany to lead the automotive camera market in Europe.

Germany is expected to be the largest market for automotive cameras in the European region during the forecast period. The German automotive camera market is expected to grow due to the increasing safety awareness and government regulations mandating advanced systems in vehicles. Major German OEMs like Volkswagen and Daimler have already integrated advanced features to enhance the driving experience, offering most ADAS features as standard in their premium vehicles. Since July 2022, the country has mandated the use of ADAS features such as automotive emergency braking, driver monitoring, and lane departure warning systems. The presence of key manufacturers such as Robert Bosch GmbH (Germany), ZF Friedrichshafen AG (Germany), and Continental AG (Germany) significantly contributes to this growth. Recent developments, such as camera heads enabling ADAS functionality (including 3-to-8-megapixel versions scalable up to 12 megapixels) released by Robert Bosch GmbH in September 2023, highlight the advancements and increasing demand in the market. 

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Automotive Camera Market Dynamics:

Drivers:

1. Increasing consumer demand for ADAS in vehicles

Restraints:

1. Impact of adverse weather conditions

Opportunities:

1. Growing push for autonomous vehicles

Challenge:

1. Low adoption and high cost of newer technologies

Key Market Players Automotive Camera Industry:

Prominent players in the Automotive Camera Market include Robert Bosch GmbH (Germany), Continental AG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), and Denso Corporation (Japan), and Ficosa International SA (Spain), among others.

The break-down of primary participants is as mentioned below:

• By Respondent Type: OEMs – 32%, Tier 1 –37% and Others – 28%,
• By Designation: CXO’s – 33%, Managers – 52%, and Executives – 15%
• By Region: North America – 26%, Asia Pacific – 35%, Europe – 30%, and Rest of the World – 9%

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Automotive Camera Industry Recent Developments:

• In March 2024, ZF Friedrichshafen AG (Germany) acquired a 6% stake in the South Korean software company StradVision, an artificial intelligence-based vision processing technology for autonomous vehicles and ADAS. The acquisition extends ZF’s autonomous driving perception and sensor fusion capabilities.
• In January 2024, Valeo (France) collaborated with Teledyne FLIR LLC (US), part of Teledyne Technologies Incorporated, to bring thermal imaging technology to the automotive industry to enhance the safety of road users.
• In January 2024, Continental AG (Germany) unveiled Face Authentication Display, a two-stage access control system based on biometric user recognition, which uses special camera systems mounted externally on the vehicle’s B-pillar and behind the driver display console. With biometric face authentication, the vehicle unlocks and starts upon detecting a registered user while enabling driver monitoring for enhanced safety.

Automotive Camera Market Size – Key Benefits of Buying the Report:

• The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall automotive camera market and the subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.

This report provides insights on:

• Analysis of key drivers (Increasing consumer demand for ADAS in vehicles, Government initiatives for improved vehicle safety, Advancements in camera technology), restraints (Impact of adverse weather conditions, Lack of infrastructure in emerging economies), opportunities (Growing push for autonomous vehicles, Surge in demand for premium vehicles), and challenges (Low adoption and high cost of newer technologies, Integration with other vehicle sensors) influencing the growth of the automotive camera market.
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive camera market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the automotive camera market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive camera market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Robert Bosch GmbH (Germany), Continental AG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), and Ficosa International SA (Spain) among others in the automotive camera market.
• Strategies: The report also helps stakeholders understand the pulse of the automotive camera market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Related Reports:

ADAS Market – Global Forecast to 2030

Automotive Ethernet Market – Global Forecast to 2028

Electric Vehicle Market – Global Forecast 2030

Autonomous / Self-Driving Cars Market – Global Forecast to 2030

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