According to a new market report published by
Lucintel, the future of the global automotive camera market looks promising
with opportunities in the markets of compact cars, large cars, and light commercial
vehicles. The global automotive camera market is expected to reach an estimated
$7.5 billion by 2023 with a CAGR of 24.3% from 2018 to 2023. The major drivers
for this market are 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.
Within the global automotive camera market,
the light commercial vehicle segment will remain the largest market. Customers
are looking for high-tech and safety features in light commercial vehicles,
which will foster growth opportunities for camera suppliers.
North America will remain the largest market
due to the new regulation that has been passed by the U.S. government to
install rear view camera in every
vehicle, growing demand for
comfort and luxury in vehicles, and increasing investment by industry players within the North American region.
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.
Emerging
trends, which have a direct impact on the dynamics of the industry, include the
introduction of recognition camera technology that results in mirrorless cars
and the increased usage of wide angle camera technology. Robert Bosch,
Continental AG, Centex, Magna, Valeo, and Panasonic are the major automotive camera
manufacturers.
Lucintel, a leading
global strategic consulting and market research firm, has analyzed growth
opportunities in the global automotive camera market by technology, vehicle
type, application, and region. Lucintel has compiled a comprehensive research
report entitled “Growth
Opportunities in the Global Automotive Camera Market 2018-2023: Trends, Forecast,
and Opportunity Analysis.”
The Lucintel report serves as catalyst for growth strategy, as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global automotive camera market by technology,
vehicle, application, and region, as follows:
By Technology ($ Million and Million Units from
2012 to 2023):
- Digital Camera
- Thermal Camera
- Infrared Camera
By Vehicle Type ($ Million and Million Units from
2012 to 2023):
- Small Cars
- Compact Cars
- Large Cars
- SUV and Crossover
- Light Commercial Vehicles
By Application ($ Million and Million Units from
2012 to 2023):
- Rear View Cameras
- Front View Cameras
- Side View Cameras
- Interior View Cameras
By Region ($ million and Million Units from 2012 to 2023):
- North America
o
US
o
Canada
o
Mexico
- Europe
o
Germany
o
Russia
o
France
o
United Kingdom
o
Italy
- Asia Pacific
o
China
o
Japan
o
India
o
South Korea
o
Indonesia
- The Rest of the World
o
Brazil
o
Turkey
This
261-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
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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.
This
report answers following 11 key questions:
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. Which
region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the
key challenges and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this market
and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8. What are the new developments in the market? Which companies are
leading these developments?
Q.9. Who are the major players in this market? What strategic
initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big
of a threat do they pose for loss of market share by material or product
substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has
its impact been on the industry?
