According to Data Bridge Market Research new Market report, global automotive camera market will account to an estimated USD 7.38 billion in 2018 growing at a CAGR of 10.75% during the forecast period of 2018 to 2025.
Access Full Report at https://databridgemarketresearch.com/reports/global-automotive-camera-market/
Automotive camera is an onboard camera which is used in the vehicles to enhance the safety of the driver as it extends the visibility by capturing high quality video. These cameras have the capabilities to interact with their surroundings and identify any possible collision threats and inform them to the driver. As there is increase in the road accidents, there is increase demand for this automotive camera. It is also used for driver monitoring, park assist, blind spot detection.
Global automotive camera market is segmented on the basis of technology, view type, applications, vehicle type, EV type and geography.
By Technology (Digital Camera, Infrared Camera, Thermal Camera), View Type (Single View System, Multi-View System), Application (Driver Monitoring System, Park Assist System, ADAS, Blind Spot Detection, Others), Vehicle Type (Passenger Vehicles, Commercial Vehicles), EV Type (BEV, PHEV, HEV), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
FACTORS DRIVING GROWTH IN AUTOMOTIVE CAMERA MARKET
High Levels of Road Accidents
According to a report published by world health organization (WHO) in 2018, titled “global health estimates and the global status report on road safety” 1.35 million people die annually on roads and another 20-50 million suffer non-fatal injuries on these roads. Out of these 1.35 million around 93% of deaths occur in low and middle income countries combined and the rest can be accounted for in high income countries. Surprisingly, only 59% of registered vehicles are present in these low and middle income countries. Out of all these deaths around 54% are of vulnerable road users which consist of pedestrians, cyclists, riders and passengers of 2-wheelers and 3-wheelers.
This high number of road accidents and deaths involve a high number of automotive vehicles, which need to be repaired and maintained after going through these accidents.
Few of the major competitors currently working in the automotive camera market are Continental AG; Robert Bosch GmbH; Valeo; Aptiv; Magna International Inc; Ficosa Internacional SA; Autoliv Inc.; Mobileye; Clarion; OmniVision Technologies, Inc.; Veoneer Inc.; Ambarella; ZF Friedrichshafen AG; AEi Boston and STONKAM CO.,LTD.
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