The automotive camera market size is projected to reach US$ 37,436.72 million by 2031 from US$ 9,704.57 million in 2023. The market is expected to register a CAGR of 18.4% during 2023–2031. The growing focus on safety and increasing sales of electric vehicles is likely to remain a key trend in the market.
The major end-users of the automotive camera market include Daimler AG, Tata Motors, Eicher Motors, Hindustan Motors, Toyota, Volkswagen, Ford Motor and other automotive manufacturers. These companies produce commercial as well as passenger vehicles wherein these companies procured automotive cameras for their vehicles, which are further delivered to the customers. Thus, growing demand for passenger as well as commercial vehicles in coming years is expected to propel the development of automotive camera market during the forecast period.
The major participants in the global automotive camera market ecosystem include raw material suppliers, automotive camera manufacturers, OEMs and end-users. The raw material supplier is a crucial stakeholder in the ecosystem of the automotive camera market. The major raw materials are glass, fluorite, quartz glass, fluoride compounds, and plastics, including germanium, acrylic, and meteoritic glass are usual raw materials employed to make an automotive camera. The major raw material suppliers include Dynaflex Corporation, Ohara Corporation, AGC Inc., SCHOTT, Canon Inc., Universe Kogaku (America) Inc., Sunex Inc. and other players. Thus, growing initiatives from supplying raw materials are strengthening the production of automotive cameras, which is propelling the market growth.
The automotive camera systems play a crucial role in recent applications, including Forward Collision Warning Systems, Blind Spot Warning, and Lane Departure Warning Systems. The high end cameras can be implanted with advanced computer vision algorithms for real machine vision systems for the Advanced Driver Assistance Systems. Thus, the encouraging in applications of cameras in automotive vehicles and the rise in developments in technologies fuel the adoption of advanced cameras in cars.
The growing environmental pollution due to fossil fuels is one of the major concerns for the government. To reduce the level of environmental pollution, various governments are emphasizing consumers adopting cleaner, sustainable, and environment-friendly alternatives in daily life by giving special rebates on sales, incentives, lucrative offers, and tax benefits. China, Japan, the European Union, India, Canada, and South Korea are some of the major geographies where governments are actively working towards boosting the adoption of passenger electric vehicles, which is anticipated to drive the development of the automotive camera market over the forecast period.
Key segments that contributed to the derivation of the automotive camera market analysis are application, type, vehicle type, and level of autonomy.
The geographic scope of the Automotive Camera Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific dominated the automotive camera market in 2023. The Asia Pacific region includes China, India, Australia, Japan and South Korea. The high presence of automotive companies and the developing automotive and transportation sectors is acting as a major driver for the automotive camera market. Europe secured the second-largest position in the automotive camera market. The high adoption og electric vehicles is also acting as a major driver for the automotive camera market in Europe.
The regional trends and factors influencing the Automotive Camera Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Camera Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 9,704.57 Million |
| Market Size by 2031 | US$ 37,436.72 Million |
| Global CAGR (2023 - 2031) | 18.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Camera Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Camera Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive camera market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the automotive camera market are listed below:
The “Automotive Camera Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the automotive camera market in 2023.
The surging usage of advanced driver assistance systems (ADAS) is the future trend of the automotive camera market.
Aptiv PLC, Autoliv Inc., Continental AG, Teledyne FLIR LLC, Gentex Corporation, Magna International Inc., Robert Bosch GmbH, Valeo, Mobileye, Stonkam Co., Ltd. are some of the leading players in the market.
US$ 37,436.72 million estimated value of the automotive camera market by 2031.
18.4% is the expected CAGR of the automotive camera market.