Automotive Camera Market Size Forecast To 2031

(MENAFN- Straits Research) An automotive Camera is a rear-view system that makes reversing easier by monitoring the real-time environment and recommending the steering angle. The Automotive Camera is part of the rear-view system and is convenient for parking. They are designed to produce high-quality photos and videos to improve driver safety. The camera installed in the car uses cutting-edge technology such as computer vision algorithms to extract vital information for driver assistance. It's an onboard camera that records high-quality video to improve driver visibility and safety. These cameras help drivers with night vision, parking, vehicle performance, and gathering evidence.
Market DynamicsIncreasing Road Accidents and Growing Demand for Luxury Cars Drives the Global Market
Park assist, collision avoidance, lane departure warning, traction control, digital balance control, tire stress monitoring, airbags, and telematics are in high demand due to the rising number of people injured or killed in car accidents. Innovative driving forces help structures find and categorize road objects, then offer drivers advice. These installations use radar and cameras and can slow or lock a car if it gets too far away during a collision.
As a result, the Automotive Camera Market Share and Size are growing. More teens than any other age group die in car accidents. Demand for safety features drives the growth of the automotive camera market and integrated radar and camera systems. The growing influence of NCAP, demand for premium cars, and safety features contribute to market growth.
Growth of New technologies Creates Tremendous Opportunities
Due to technological advances, internal combustion engines and fuel-fed engines are being replaced by electric, hybrid, and solar vehicles. Autonomous technologies and ADAS advancements are increasing user engagement and reducing the need for direct vehicle control. Developing vehicle-mounted navigation systems has made this possible. Manufacturers are focusing on their complex software, such as ADAS, developing new mobility technologies. As software becomes more important, automakers are developing safer, more innovative vehicles. Increasing technological advances and improvements in ADAS are opening many opportunities for automotive cameras and integrated radar and cameras.
Regional Analysis
During the forecast period, North America is expected to have the largest market for automotive cameras. This region is expected to lead the industry because of how quickly it is becoming industrialized, how well it is getting at making cars, and how fast it can connect to other places. The automotive camera market would also make more money if customers had more money to spend and their standard of living went up.
The automotive camera market will grow a lot in Asia and the Pacific. During the time that the projections say, this region is expected to have the most market growth. In the Asia-Pacific region, the key things driving the Automotive Camera Market are hybridization and electrification of vehicles, rising production of electric vehicles, and rising sales of passenger vehicles.
Key Highlights

The global automotive camera market was valued at USD 21.2 billion in 2021. It is expected to reach USD 69.05 billion by 2030, growing at a CAGR of 14.02% during the forecast period (2022–2030).
Based on technology, the global automotive camera market is divided into different categories such as Digital cameras, infrared cameras, and thermal cameras. The thermal camera division is anticipated to grow at the most rapid rate during the forecast period.
Based on the vehicle type, the global automotive camera market is divided into two main types: passenger cars and commercial vehicles. The segment of the automotive camera market that pertains to passenger cars is anticipated to hold the largest market share during the forecast period.
Based on application, the global automotive camera market is divided into two main types: ADAS (Advanced Driver-Assistant System) and Park Assist.

Competitive Analysis
The key players in the global
automotive camera
market include Automation Engineering Inc., Robert Bosch GmbH, Continental AG, Aptiv PLC, Stonkam Co., Ltd., Mobileye N.V., Autoliv Inc., Magna International Inc., OmniVision Technologies, and Valeo.
Market News

June 2022-
Autoliv and the Malaysian Institute of Road Safety Research will collaborate to save more lives.
April 2022-
Autoliv launched a multi-year commitment to support the UN Road Safety Fund.
February 2022-
Autoliv provided an exterior airbag for Nuro's autonomous vehicle.
June 2022-
Autoliv and the Malaysian Institute of Road Safety Research collaborated to save more lives
April 2022,
Autoliv launched a multi-year commitment to support the UN Road Safety Fund.
February 2022,
Autoliv provided an exterior airbag for Nuro's autonomous vehicle.

Global Automotive Camera
Market: Segmentation
By Application

Park Assist System
Lane Departure Warning System
Adaptive Cruise Control System
Autonomous Emergency Braking System
Blind Spot Detection
Others (Pedestrian Detection System, Road Sign Recognition, and Night Vision Camera)

By Technology

Infrared Camera
Thermal Camera
Digital Cameras

By Vehicle Type

Passenger Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle

By Regions

North America
Europe
Asia-Pacific
LAMEA

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