Billion-Dollar Automotive Camera Market Analysis through 2022-2026 | Forecast and Trend Insights
The Automotive Camera Market is expected to increase by USD 4.1Bn from 2022 to 2026, followed by a market growth at a CAGR of 9.91%. Automotive Camera Market segmentation can be done by type (viewing and sensing camera and viewing only), vehicle (passenger vehicles and commercial vehicles), and Geography (North America, Europe, APAC, the Middle East and Africa, and South America).
Navigating through the eccentric growth drivers of the market it has been observed that priority for automotive safety among customers is one of the primary factors driving the global market
One of the prominent modes of transportation in most countries is road transportation and the automotive industry has been actively working on improving road safety by preventing accidents and reducing injuries, therefore most safety measures are focused on drivers, as human errors are the prime cause of accidents. Technical measures, especially active safety systems, work effectively in preventing accidents by warning drivers to take precautions before accidents occur.
Technavio has been monitoring the Automotive Camera Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.
Automotive Camera Market Trends at a Glance
Emerging Trends to Impact Market Growth of the Automotive Camera Market: As per the market trend, the increased use of wide-angle camera technology will fuel the global automotive camera market as the use of wide-angle lenses in automotive camera modules is gaining importance due to their wide field coverage and enhanced picture quality., Automotive OEMs are exploring safety solutions that detect the driver's blind spots on the road and hence, are using wide-angle technology to expand the coverage field of cameras
The development of camera systems for the automotive market is rapidly gaining importance, primarily driven by the growing safety concerns for both passengers and vulnerable road users, such as pedestrians.
Core Companies of the Automotive Camera Market: When it comes to the core companies OEMs and camera module manufacturers are actively investing in improving the output from wide-angle cameras, which is expected to drive the growth of the global automotive camera market during the forecast period.
Some of the prominent names worth mentioning are Kyocera Corp., Magna International Inc., Mcnex Co. Ltd, Mobileye Technologies Ltd., Murata Manufacturing Co. Ltd., OMNIVISION Technologies Inc., Panasonic Holdings Corp., Robert Bosch Stiftung GmbH, Samsung Electronics Co. Ltd., Sony Group Corp., Stellantis NV, etc. Track down all the details in a comprehensive report summary describing the market landscape in our data-backed report that captures the growth trajectory of the market with a wider understanding of the business ecosystem.
