CHICAGO, Feb. 19, 2019 /PRNewswire/ -- According to the new market research report "Automotive Camera Market by Application (ADAS & Park Assist), View Type (Single View System & Multi-Camera System), Technology (Thermal, Infrared & Digital), Vehicle Type & Class, Electric Vehicle Type, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Automotive Camera Market is projected to grow at a CAGR of 10.62% during the forecast period, to reach USD 15.1 billion by 2025 from an estimated USD 7.5 billion in 2018.
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106 – Tables
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164 – Pages
The demand for enhanced safety, convenience, and comfort features in automobiles has grown steadily. The growing consumer awareness and increasing government mandates related to active safety have fueled the demand for driver assistance applications, which in turn will drive the growth of the Automotive Camera Market.
Park assist segment, by application, is estimated to hold the largest market share during the forecast period.
The park assist segment is estimated to be the largest market during the forecast period. OEMs have started offering this feature as a standard fit in mid-priced and luxury vehicle segments. This is fueling the growth of Automotive Camera Market for park assist application.
Commercial vehicle segment is estimated to be the fastest growing market, by vehicle type, from 2018 to 2025
The commercial vehicle segment of the Automotive Camera Market is estimated to grow at the highest rate. The increasing adoption of safety features such as blind spot monitoring, autonomous emergency braking, auto park assists, and lane departure warning will boost the demand for automotive cameras in the commercial vehicle segment. Furthermore, advanced technologies such as truck platooning and semi-autonomous and autonomous trucks will provide opportunities for the growth of the Automotive Camera Market in commercial vehicles.
Asia Pacific to be the largest market for automotive camera in 2025
Asia Pacific is projected to be the largest market for automotive camera in 2025. Safety regulations have been implemented in a few Asia Pacific countries such as Japan and South Korea, and the demand in these countries is anticipated to be on the rise in the next 5 years. China, South Korea, and Japan are expected to implement vehicle and road safety regulations regarding the installation of ADAS in vehicles due to the growing population as well as vehicle demand. Moreover, the improving lifestyle of consumers and speedy urbanization have boosted the demand for passenger vehicles as well as commercial vehicles in the region.
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The Automotive Camera Market is dominated by globally established players such as Continental (Germany), Robert Bosch (Germany), Valeo (France), Aptiv (Ireland), and Magna (Canada). Also, Intel (Mobileye) (US), Autoliv (Sweden), Ficosa (Spain), and Clarion (Japan) provide automotive cameras.
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