The global automotive camera market is projected to reach $7.9 billion by 2027, at a CAGR of 14.3% during 2022-2027. The growth of automotive camera market is driven by growing demand for advanced driver assistance systems in cars with increasing focus on connected vehicle features, and mandatory government regulations to have a rearview backup camera installed in every vehicle in North America and Europe. The National Highway Transportation Safety Administration (NHTSA) has made it mandatory for all vehicles to install a backup camera system by 2019 due to increase in the number of accidents and injuries in the United States.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the automotive camera market by
technology (digital cameras, thermal cameras, and infrared cameras), vehicle
type (small cars, compact cars, large cars, SUVs and crossovers, and light commercial
vehicles), application type (rear view cameras, front view cameras, side view
cameras, and interior view cameras), and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the automotive camera market?
Q.4 What are some
changing demands of customers in the automotive camera market?
Q.5 What are the new
developments in the automotive camera market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this automotive camera area and how big of
a threat do they pose for loss of market share via product substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this automotive camera market?
Emerging trends, which
have a direct impact on the dynamics of the industry, include introduction of
recognition camera technology that results in mirrorless cars and the increased
usage of wide angle camera technology.
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Market Segmentation:
Based on vehicle type,
the automotive camera market is
segmented into small cars, compact cars, large cars, SUVs and crossovers, and
light commercial vehicles. The light commercial vehicles segment accounted for
the largest share of the market in 2020 and it is also expected to witness the highest growth over the
forecast period as customers are looking for high-tech and safety features in
light commercial vehicles, which will foster growth opportunities for camera
suppliers.
Asia Pacific and ROW are
expected to witness significant growth over the forecast period because of increasing
usage of cameras in small, compact, and large cars and light commercial
vehicles.
Key Players in the automotive
cameras market are Robert Bosch, Continental AG, Gentex, Magna, Valeo, and
Panasonic Corporation.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
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https://www.lucintel.com/automotive-camera-market.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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