Global Automotive Cameras Market Report, published by Variant Market Research, forecast that the global market was valued at $9 billion in 2016 and expected to reach $33 billion by 2024; growing at a CAGR of 17.5% from 2016 to 2024. In geographical segments, Asia Pacific and rest of the world (RoW) are expected to grow at a CAGR of 18.6% and 18.2%, respectively, over the forecast period 2016 – 2024.
Global automotive cameras market is majorly driven by rise in demand for sensing cameras in advanced driver assistance systems, high requirement by passenger cars, and increasing demand for luxury vehicles. Though, high cost of automotive cameras may hinder the market growth. Moreover, replacement of side-view mirrors with cameras would unfold attractive business opportunities for the market in the coming years.
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The global automotive cameras market has been categorized into product, application, technology, and geography. Product segment includes forward-view cameras, rear-view enhancement, side-view cameras, and interior-view cameras. The technology segment is further categorized as stereo cameras, mono cameras, infrared cameras and others. Application segment comprises parking surround view, LDWS, parking, night vision, drowsiness, distance, blindspot, AFS and others. In 2016, by product segment, the rear-view enhancement held major market share in the global automotive cameras market, due to its broad usage during parking and reverse driving. The side view cameras are estimated to grow at the fastest CAGR during the forecast period. In the technology segment, stereo cameras dominated the market with the maximum market share in 2016. In application segment, distance cameras are projected to continue the trend with fastest growth rate during the forecast period.
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North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. In 2016, North America held major market share of 35% due to increase in demand of luxury vehicles in countries such as U.S., and Canada. Growth in demand for fixing of ADAS in commercial vehicles has also boosted the growth of automotive cameras in the North American market. Europe was the second largest market with a total market share of 33.3% in 2016. Asia-Pacific is predicted to grow at a fastest CAGR of 18.6% over the forecast period 2016-2024.
The major players operating in the market comprises Autoliv Inc., Continental AG, Qrontech Co. Ltd., Ficosa International S.A., KYOCERA Corporation, Transcend Information Inc., Valeo Inc., Robert Bosch GmbH, Delphi Automotive LLP, and Media Data Systems Pte Ltd., among others.
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Scope of Automotive Cameras Market
• Rear View Enhancement
• Side View Cameras
• Forward View Cameras
• Interior View Cameras
• Infrared cameras
• Parking surround view
• Night vision
• Blind spot
• North America
o United Kingdom
o South Korea
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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