Automotive Camera Market Size, Growth Analysis | Report, 2028

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Automotive Camera Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Park Assist and ADAS), Type (Mono Camera, Surround View Camera, and Rear View Camera), Vehicle Type (Passenger Cars and Commercial Vehicle), Level of Autonomy (L1, L2, L3, and Others) and Geography

Publication Month: Jul 2022 | Report Code: TIPRE00004119 | No. of Pages: 199 | Category: Automotive and Transportation | Status: Published

The automotive camera market is expected to grow from US$ 6,911.10 million in 2021 to US$ 30,140.14 million by 2028. It is estimated to grow at a CAGR of 24.3% from 2022 to 2028.

Players in the automotive camera market are expected to have lucrative opportunities in the coming years, owing to the increasing demand for safety and driving comfort features. With the development of science and technology, automotive technology is improving rapidly. Also, automotive safety technology is involved gradually in all aspects of a car. Due to the increasing number of road traffic accidents, governments across the world have mandated to install cameras in all segments of vehicles. As per the report published by National Highway Traffic Safety Administration (NHTSA), the traffic fatalities in 2021 had shown an increase of about 10.5% compared to reported fatalities in 2020.  The estimated fatalities are the highest number since 2005 and the largest annual percentage increase in the Fatality Analysis Reporting System’s history in the US. Thus, the government agencies strongly emphasized improving safety policies and standards along with significant investments in mitigating road accidents. In May 2022, the NHTSA approved US$ 740 million in funding for the 402 State and Community Grant Program, Section 1906 Racial Profiling Data Collection Grants, and Section 405 National Priority Safety Program. Thus, the increase in safety demands for safety and comfort is supporting the automotive camera market growth.

The growing adoption of advanced cameras in vehicles is driving the automotive camera market. The leading players providing the automotive cameras are significantly adopting advanced technologies. For instance, in May 2021, StradVision, a leading company in AI-based vision processing technology for autonomous vehicles and automotive ADAS, introduced the latest features of camera perception software named “SVNet”. SVNet, a deep learning-based perception software, supports ADAS features, including highway driving assist and automated valet parking. In addition, the rear view camera provided by the STMicroelectronics for the automotive vehicles caters to various applications, such as state-of-the-art HDR image sensors VG6640 and a versatile image signal processor (ISP) that offers excellent flicker-free image quality at HD resolution. It also provides its product offerings for Driver Monitoring System (DMS) applications, through its HDR Global Shutter sensor (1.6 Mpixel & 2.3 Mpixel), along with a multichannel voltage regulator and automotive led drivers, MEMS Sensors, ensuring greater flexibility for high-end computer vision applications in critical environments. Thus, the rising adoption of advanced cameras bolsters the automotive camera market growth.

Strategic Insights

Report Coverage - Automotive Camera Market
Report CoverageDetails
Market Size Value inUS$ 6,911.10 Million in 2021
Market Size Value byUS$ 30,140.14 Million by 2028
Growth rateCAGR of 24.3% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
No. of Pages199
No. of Tables115
No. of Charts & Figures92
Historical data availableYes
Segments coveredBy Application, Type, Vehicle Type, Level of Autonomy, and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Impact of COVID-19 Pandemic on Automotive Camera Market

With the ease of restrictions and reopening of business units, the adoption of EVs and sales of automotive vehicles are peaking, achieving the new normal. From 2021, market players have significantly invested in adopting advanced technology, leveraging the demand for automotive vehicles and making them more intelligent and secure. The COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive industry. The pandemic disrupted the Chinese parts exports, large-scale manufacturing interruptions across Europe, and assembly plants in the US. All these factors are making a downshift in global demand. The pandemic forced businesses to restructure their business models, focusing on strengthening strategies to achieve economies of scale. Furthermore, technological advancement in the post-pandemic period has increased the adoption of automotive camera solutions that enable driverless driving, smart mobility, and enhanced safety features. Therefore, although the global automotive camera market plummeted initially due to the adverse impact of the COVID-19 pandemic and the related regulations, it has achieved a strong recovery from the pandemic and is expected to gain further strong recovery, owing to the rise in adoption of advanced technology across the globe.

Lucrative Regions for Automotive Camera Market

Lucrative Regions for Automotive Camera Market

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Automotive Camera Market Insights

The growing advancement in the advanced driver assistance system (ADAS) is fueling the growth of the automotive camera market. The ADAS technology has improved the driving experience with added features, including stability controls, lane monitoring, and emergency braking. The system comprises technologically equipped sensors, such as radar sensors, cameras, LiDAR, ultrasonic sensors, infrared, and several actuators. The ongoing adoption of electric vehicles owing to stringent government regulations for carbon emissions is boosting the demand for ADAS, thereby driving the automotive camera market. In addition, the favorable regulatory policies for incorporating safety and comfort features in the automotive vehicles fuel the automotive camera market growth.

The increasing demand for safety and driving comfort features and the growing adoption of advanced cameras in vehicles are among the key factors driving the automotive camera market growth. The emergence of the COVID-19 pandemic has had a severe impact on the automotive industry across the world. The negative impact of the pandemic is witnessed in terms of the supply chain disruptions in part exports from China; interruptions in large-scale manufacturing across Europe; and the closure of assembly plants in the US, India, Brazil, and other major countries, where the automotive sector highly contributes to the GDP. The increasing demand for electric vehicles would create potential growth opportunities for the market in the coming years. The complicated wiring connections and increasing advanced technology usage require expensive small components. Using these components increases the installation cost of cameras, which restrains the growth of the automotive camera market.

Level of Autonomy-Based Market Insights

Based on level of autonomy, the automotive camera market is segmented into L1, L2, L3, and others. In 2021, the L1 segment accounted for the largest market share.

Owing to recent developments in the automotive sector, level 2 autonomy will grow substantially worldwide. The adaptive cruise control uses radar or cameras to determine the safe distance in front of the vehicle and stay within the speed limit. Only one camera is mounted in front view of the vehicle. The adaptive cruise control is used in passenger and commercial vehicles. Thus, the increasing in sale of automobiles from Level 1 segment is augmenting the demand for automotive cameras.

Automotive Camera Market Segments, During 2022–2028 (%)

Automotive Camera Market Segments, During 2022–2028 (%)

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Type-Based Market Insights

Based on type, the automotive camera market is segmented into mono camera, surround-view camera, and rear-view camera. In 2021, the rear-view segment accounted for the largest market share.

Market players adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the automotive camera market. A few developments by key players in the market are listed below:

  • In November 2021, Autoliv and SSAB collaborated to develop fossil-free steel from SSAB to manufacture automotive safety products.
  • In April 2022, Valeo developed a one hundred millionth automotive nearfield camera at the Tuan site in Ireland. It is used to provide rear and surround view of the vehicle.

Company Profiles in Automotive Camera Market Report

  • Aptiv PLC
  • Autoliv Inc
  • Continental AG
  • FLIR Systems, Inc.
  • Gentex Corporation
  • Magna International Inc
  • Robert Bosch GmbH
  • Valeo
  • Mobileye

Frequently Asked Questions

The Automotive camera market is estimated to grow at 30140.14 million US dollars in 2028 at a CAGR of 24.3%.
The Increasing demand for safety & driving comfort features and growing adoption of cameras in vehicles are driving the Automotive camera market
The surging usage of ADAS for enhanced safety and comfort is the future trends for the Automotive camera market.
Aptiv, Continental, Bosch, Valeo and FLIR are the five key players holding the major market share in the Automotive camera market.
APAC is holding major market share of Automotive camera market.
Passenger vehicles is the leading vehicle type segment in the Automotive camera market.
The incremental growth of Automotive camera market during the forecast period is US $ 21985.04 million.

The List of Companies - Automotive Camera Market

  1. Aptiv PLC
  2. Autoliv Inc.
  3. Continental AG
  4. FLIR Systems, Inc.
  5. Gentex Corporation
  6. Magna International Inc.
  7. Robert Bosch GmbH
  8. Valeo
  9. Mobileye
  10. Stonkam Co., Ltd.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global automotive camera market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations such as specific regional and segmental insight highlights crucial progressive industry trends in the global automotive camera market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
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