Automotive Camera Module Market Analysis, Key Trends, and Top Manufacturers
Global automotive
camera module market is expected to grow at a significant CAGR of
21.2% in the upcoming period as the scope and its applications are rising
enormously across the globe. Automotive camera module comprises image sensors
that help in preclusion of accidents, record driver’s inclination, and offer
enhanced driving experience.
The factors that are playing a major role in
the growth of market are growing awareness among insurance companies regarding
safety measures, high impact of new car assessment program (NCAP), and growing
demand for luxury vehicles. However, the high cost of advanced driver
assistance system (ADAS) may restrain overall market growth in the years to
come. Automotive camera module market is segmented based on product type,
technology, vehicle type, application, and region.
Driver support cameras and driver assistance
cameras are the product types that could be explored in the automotive camera
module in the forecast period. The driver assistance camera sector accounted
for the substantial market share of the automotive camera module and is
estimated to lead the overall market in the years to come.
Based on technology, thermal, infrared, and
digital could classify automotive camera module in the forecast period. The
digital sector accounted for the substantial market share of the automotive
camera module in terms of volume and is estimated to lead the overall market in
the years to come. In addition, the infrared sector is estimated to grow at the
fastest pace in the years to come.
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Electric vehicles, passenger vehicles,
and commercial vehicles are the vehicle types that could be explored in the
automotive antenna in the forecast period. Electric vehicle sector comprises
hybrid vehicles, battery-operated electric vehicles, and plug-in hybrid
vehicles. Passenger vehicles comprise sports utility vehicles, hatchback cars,
multi-purpose vehicles, and sedans. Commercial vehicles comprise heavy and
lightweight vehicles.
The market may be categorized based on
applications like blind spot detection (BSD), lane departure warning, adaptive
cruise control (ACC), pedestrian detection, road sign recognition systems, park
assist, night vision, driver monitoring, and the others that could be explored
in the automotive camera module in the forecast period. The lane departure-warning
sector is estimated to grow at the highest CAGR in the years to come. Also,
park assist sector is estimated to grow at the fastest pace in the years to
come.
Automotive camera module market is
segmented geographically into Americas (North America, South America), Europe
(Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New
Zealand, and Australia), Middle East (UAE, Saudi, and Qatar) and Africa (South
Africa).
Globally, North America accounted for
the substantial market share of the automotive camera module and is estimated
to lead the overall market in the years to come. The reason behind the overall
market growth could be the presence of key manufacturers in the region and the
rising use of enhanced technology.
Europe and the Asia Pacific are also
estimated to have a positive influence on future growth. Europe is the second
largest region with significant market share. However, Asia Pacific is
estimated to grow at the highest CAGR in the forecast period. The aspects that could
be ascribed to the growth comprise growing demand from consumers for
technologically enhanced vehicles. The key players of the automotive camera
module market are Continental AG, Robert Bosch Gmbh, Valeo, Delphi Automotive
PLC, and Autoliv Inc. These players are concentrating on inorganic growth to
sustain themselves amidst fierce competition.
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