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How Much Will The Automotive Camera Market Be Worth By 2029?

The automobile camera industry has seen considerable growth in its market size over the past few years. From $9.9 billion in 2024, it is projected to expand to $10.93 billion in 2025, revealing a compound annual growth rate (CAGR) of 10.4%. Factors that can be credited for such advancement during the historical period include an increased focus on car safety, the adoption of progressive driver assistance systems (ADAS), enhanced legislative demands for rearview and all-round viewing cameras, a surge in demand for parking aid systems and collision prevention measures, as well as the incorporation of cameras in the making of autonomous vehicles.

In the coming years, the automotive camera market is set to witness a significant upsurge, with its value expected to reach $16.93 billion by 2029, growing at a compound annual growth rate (CAGR) of 11.6%. This projected growth within the forecast period can be attributed to factors such as the expansion of the connected car ecosystem, increasing popularity of 360-degree camera systems, more commercial vehicles incorporating cameras for fleet management, increasing demand for state-of-the-art safety features and a rise in shared mobility services. During the forecast period, some notable trends are anticipated to include the incorporation of artificial intelligence (AI) and machine learning into the systems, the development of high-resolution and low-light capable cameras, the customisation of camera systems for specific vehicle models and uses, cooperation between auto manufacturers and tech providers to create innovative camera solutions, and the utilisation of cameras for augmented reality (AR) displays and improved driver assistance features.

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What Market Forces Are Contributing To The Growth Of The Automotive Camera Market?

The potential rise in the rate of road casualties is predicted to drive the expansion of the automotive camera market. A road casualty is defined as any person who succumbs within 30 days due to a road accident injury. Automotive camera systems integrate an accelerometer and a g-sensor, alongside GPS tracking and motion detection, enabling the recognition of various safety-related occurrences, like abrupt braking, swift turning, or accidents. The system swiftly uploads video footage taken immediately before and after the incident for early inspection. For example, a report from Road Safety Wales 2024, a non-profit professional organization based in the UK, revealed in June 2024 that police in Wales reported a total of 4,348 road casualties in 2023, a 2% rise from 2022.

Which Segments Define The Structure Of The Automotive Camera Market?

The automotive cameramarket covered in this report is segmented –

1) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle

2) By View Type: Single View System, Multi Camera System

3) By Technology: Digital Cameras, Infrared Cameras, Thermal Cameras

4) By Application: Park Assist, Advanced Driver-Assistance Systems

Subsegments:

1) By Passenger Vehicle: Compact Cars, Sedans, SUVs, Hatchbacks, Luxury Vehicles

2) By Light Commercial Vehicle: Vans, Pickup Trucks, Minibuses

3) By Heavy Commercial Vehicle: Buses, Trucks, Trailers

What Strategic Shifts And Innovations Are Influencing The Automotive Camera Market?

Leading players in the automotive camera market are prioritizing the creation of innovative technological solutions such as hot-pluggable GMSL automotive HDR cameras. These sophisticated cameras aim to optimize image quality and performance under various driving scenarios and simplify installation and system integration. This type of HDR automotive camera showcases exceptional performance, allows connectivity without requiring a power shutdown, and employs Gigabit Multimedia Serial Link for swift data transfer. A notable example is e-con Systems, an American OEM camera solution company, which introduced the world’s initial hot-pluggable GMSL automotive HDR camera – STURDeCAM34 – in October 2024. With a 3MP resolution and a progressive 140 dB HDR capability, this groundbreaking camera supports fluid connection and disconnection without causing system interruptions, making it perfectly suited for intricate automotive uses. It is equipped with Onsemi’s AR0341AT CMOS image sensor and includes distinctive features such as LED flicker reduction, synchronization for multiple cameras (capable of supporting up to eight cameras), and a sturdy IP69K rating signifying resilience in extreme conditions.

Which Firms Are Making The Biggest Impact In The Automotive Camera Market?

Major companies operating in the automotive camera market include Continental Automotive GmbH, Robert Bosch GmbH Mobility Solutions, Valeo SA, Aptiv PLC, Magna International Inc., Mobileye NV, OmniVision Technologies Inc., ZF Friedrichshafen AG, Denso Corporation, Hella GmbH & Co KGaA, Ficosa International SA, Basler AG, Autoliv Inc., Ricoh Company Ltd., Garmin Ltd., Ambarella Inc., Aisin Seiki Co Ltd., Renesas Electronics Corporation, Clarion Co Ltd., Valeo Vision Systems, Aptina Imaging Corporation, Hyundai Mobis Co Ltd., Lear Corporation, Magneti Marelli, Seeing Machines Ltd., Sony Corporation, Samsung Electronics Co Ltd., Panasonic Corporation, NXP Semiconductors NV, STMicroelectronics NV

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Which Region Is Forecasted To Lead The Automotive Camera Market In The Coming Years?

Asia-Pacific was the largest region in the automotive camera market in 2024. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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