Global Automotive Camera Market - Industry Trends and Forecast to 2031

Global Automotive Camera Market, By Technology (Digital Camera, Infrared Camera, and Thermal Camera), View Type (Single View System and Multi Camera System), Level of Autonomy (L1 Camera Unit, L2&3 Camera Units, L4 Camera Unit, and L5 Camera Unit), Application (Driver Monitoring System, Park Assist System, ADAS, Blind Spot Detection, Night Vision System, and Others), Vehicle Type (Passenger Cars, Economic Vehicles, Mid-Priced Vehicles, Luxury Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), Electric Vehicle Type (Battery Electric Vehicle (BEV), Fuel Cell Electric Vehicle (FCEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)) - Industry Trends and Forecast to 2031.

Automotive Camera Market Analysis and Size

The automotive camera market is experiencing robust growth, driven by the increasing adoption of advanced driver assistance systems (ADAS) and the rising demand for safety features in vehicles. Governments worldwide are implementing stringent safety regulations, mandating the inclusion of rearview and surround-view camera for automotive to reduce accidents and enhance road safety. Technological advancements, such as the integration of artificial intelligence and machine learning, are enabling more sophisticated functionalities like pedestrian detection, lane-keeping assistance, and driver monitoring systems.

The global automotive camera market size was valued at USD 8.74 billion in 2023 and is projected to reach USD 18.12 billion by 2031, with a CAGR of 9.54% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

An automotive camera is an electronic device installed in vehicles to capture video footage or images, typically used for various safety, navigation, and security functions. These cameras are integral to advanced driver assistance systems (ADAS) and autonomous driving technologies, enhancing the driving experience and improving road safety.

Automotive Camera Market Dynamics

Drivers

• Increasing Adoption of ADAS

ADAS features such as lane departure warning, adaptive cruise control, and automatic emergency braking rely heavily on cameras for real-time data collection and functioning. These systems use camera feeds to monitor the vehicle's surroundings, identify potential hazards, and assist the driver in making safer driving decisions. As car manufacturers continue to incorporate more ADAS features into their vehicles to enhance safety and convenience, the demand for high-quality automotive cameras is expected to grow significantly. This trend underscores the critical role of cameras in the ongoing development of intelligent and autonomous driving technologies, making ADAS a key factor in the expansion of the automotive camera market.      

• Stringent Safety Regulations

Regulations such as the mandatory inclusion of rearview cameras in new vehicles aim to reduce blind spots and prevent accidents during reversing. These safety mandates compel automakers to equip their vehicles with advanced camera systems, ensuring compliance with regional and international safety norms. Additionally, the push for higher safety ratings and consumer demand for safer vehicles are encouraging manufacturers to adopt more comprehensive camera-based safety systems. This regulatory environment not only enhances vehicle safety but also accelerates the adoption of automotive cameras, contributing to the market's expansion.

Opportunities

• Integration with AI and Machine Learning  

AI and machine learning can significantly improve the capabilities of automotive cameras, enabling better object recognition, predictive analytics, and decision-making processes. For instance, AI-driven algorithms can enhance the accuracy of identifying pedestrians, cyclists, and other vehicles, even in complex driving environments. Machine learning can also predict potential hazards by analyzing patterns in the captured data and providing real-time alerts to drivers or autonomous systems. As vehicles become more intelligent and capable of self-navigation, the integration of AI and machine learning in automotive cameras will be crucial in achieving higher levels of safety and efficiency. Leveraging AI and machine learning to enhance the functionality of automotive camera systems presents substantial opportunities for the market.          

• Innovations in Camera Technology

Solid-state cameras, which have no moving parts, offer greater durability and reliability compared to traditional cameras, making them ideal for automotive applications. 3D imaging technology allows for more precise depth perception and environmental mapping, which is essential for advanced driver assistance systems (ADAS) and autonomous vehicles. In addition, enhancements in night vision technology enable cameras to capture clear images in low-light conditions, significantly improving safety during nighttime driving. These innovations not only enhance the functionality and performance of automotive cameras but also cater to the growing demand for advanced safety features and autonomous driving capabilities.

Restraints/Challenges

• Cybersecurity Concerns

As automotive cameras become more interconnected, the risk of cyber-attacks rises, prompting significant concerns regarding data security and privacy. Modern vehicles often integrate multiple cameras that are connected to the internet and various internal systems, making them vulnerable to hacking attempts. Cybercriminals could potentially gain access to these cameras, leading to unauthorized surveillance, theft of sensitive data, or even manipulation of vehicle functions. These security risks can undermine consumer trust and slow down the adoption of advanced automotive camera system.      

• Supply Chain Disruptions

The automotive industry is highly susceptible to supply chain disruptions, which can significantly impact the production and availability of automotive cameras. Factors such as global semiconductor shortages, logistical challenges, and geopolitical tensions can lead to delays and shortages of critical components needed for camera manufacturing. These disruptions can cause production halts, increased costs, and delayed product launches, affecting the overall market growth.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In December 2023, Stellantis and Valeo unveiled the first remanufactured automotive windshield-mounted video camera, marking a milestone in their circular economy strategy. This innovative product was developed at Valeo's Circular Electronics Lab in Nevers, highlighting the companies' commitment to sustainability and cooperation in promoting circular economy practices
• In September 2023, Ford issued a recall for 422,000 SUVs due to concerns regarding the rearview camera's image quality, particularly with the 360-degree view camera. The recall affected models such as the Ford Explorer, Lincoln Aviator, and Lincoln Corsair, impacting a total of 422,000 vehicles

Automotive Camera Market Scope

The market is segmented on the basis of technology, view type, level of autonomy, application, vehicle type, and electric vehicle type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Digital Camera
• Infrared Camera
• Thermal Camera

View Type

• Single View System
• Multi Camera System

Level of Autonomy

• L1 Camera Unit
• L2&3 Camera Units
• L4 Camera Unit
• L5 Camera Unit

Application

• Driver Monitoring System
• Park Assist System
• ADAS
• Blind Spot Detection
• Night Vision System
• Others

Vehicle Type

• Passenger Cars
• Economic Vehicles
• Mid-Priced Vehicles
• Luxury Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

Electric Vehicle Type

• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

Automotive Camera Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, technology, view type, level of autonomy, application, vehicle type, and electric vehicle type as referenced above.

The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

North America is expected to be the dominating region due to the growing demand for luxury vehicles in Canada, the U.S., and Mexico. This trend is closely linked to the increasing installation of Advanced Driver Assistance Systems (ADAS) in commercial vehicles and passenger cars across the region. The emphasis on safety and convenience features in vehicles is contributing to the rising adoption of ADAS, further fueling the demand for these systems.                

Asia-Pacific is expected to show fastest growth in the market due to rapid industrialization and the increasing number of automobile productions in the region. As countries in Asia-Pacific continue to develop and urbanize, there is a growing demand for vehicles equipped with advanced safety and automation technologies, including ADAS. This, coupled with the rising disposable income levels in many countries, is driving the growth of the ADAS market in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Camera Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the market are:

• Continental AG (Germany)
• Robert Bosch GmbH (Germany)
• Valeo (France)
• Aptiv (Ireland)
• Magna International Inc(Canada)
• DENSO CORPORATION (Japan)
• Ficosa Internacional SA (Spain)
• Autoliv Inc. (Sweden)
• Mobileye (Isarail)
• OMNIVISION (U.S.)
• Veoneer Inc. (Sweden)
• HYUNDAI MOBIS (South Korea
• ZF Friedrichshafen AG (Germany
• AEi Boston (U.S.)
• FLIR Systems, Inc.(U.S.)
• KYOCERA Corporation (Japan)
• STONKAM CO., LTD., (China)