Automotive Camera & Camera Module Market Insights 2028 -
The global automotive camera & camera module market valued USD 7,048.1 million in 2020 and is projected to reach USD 16,223.8 million in 2028, registering a CAGR of 11.9%.
Automotive cameras & camera modules are used to improve the vehicle's drivability by providing greater visibility. These cameras are primarily used to help drivers with parking, evaluating vehicle performance, night vision, and gathering important vehicle information. In addition, powerful computer vision algorithms are incorporated in them, which extract useful data from captured visuals to aid the driver for a variety of objectives such as parking, driving in dark environment and others, and they also play a critical part in advanced driver assistance systems (ADAS).
The automotive camera & camera module market is expected to experience growth during the forecast period attributed to increase in innovation, lower camera prices, and the development of autonomous technologies. Automotive cameras have become affordable owing to the usage and integration of new technologies into a variety of industries and customers' everyday lives expands. For instance, the 2020 Honda Fit priced at $17,120, was released in December 2020. The car was equipped with a rearview camera that displays visuals from the rear of the vehicle on a display located in the vehicle's center console. there has been a rise in demand for automotive cameras as these are affordable for the end user.
The automotive camera & camera module market is segmented into type, application, technology, vehicle type, distribution channel, and region. By type, the market is divided into single view and multi view. By application, it is segmented into park assist and ADAS. By technology, it is classified into digital, thermal, and infrared. By vehicle type, it is fragmented into passenger cars, commercial vehicles, and electric vehicles. By distribution channel, it is bifurcated into OEM and aftermarket. Region-wise, the automotive camera & camera module market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Infographic for Automotive Camera & Camera Module Market
Key players operating in the automotive camera & camera module market include Aptiv PLC, Veoneer Inc., Continental AG, DENSO Corporation, Ficosa Internacional SA, Magna International Inc., Intel Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Hyundai Mobis Co., Ltd. and Valeo.
Increase in demand for autonomous vehicles
Autonomous driving technologies are used to automate, adapt, and enhance vehicle technology. Through its ability to sense its surroundings, an autonomous vehicle or self-driving car may drive and perform necessary functions by analyzing the external and internal environment with the help of cameras, sensors, radars, and other equipment without the need for human interaction. Leading car manufacturers are incorporating technological improvements in automobile technology such as Advanced Driver Assistance System (ADAS) level 1, ADAS level 2, and ADAS level 3, into their vehicles. For instance, in June 2021, Ambarella, Inc. announced that Arrival has selected the Ambarella CV2FS CVflow AI vision processor for the ambient perception module accessible in all types of Arrival cars. The Arrival Bus and Van is expected to utilize the module to allow autonomous driving (AD) and ADAS features. The automotive customers have increased acquisition of vehicles equipped with ADAS technologies owing to increased convenience and luxury provided by advanced vehicles. In addition, modern technologies such as 5G technology, long- and medium-range vision and radar systems, and other technologies are expected to enable vehicles to communicate not just with one another, but also with traffic lights, signage, and even the roads themselves, resulting in reduced congestion, emissions, and roadway expenses, as well as improved fuel efficiency.
By Type
Multi View System is projected as the most lucrative segments
For instance, HERE Technologies, Porsche, and Vodafone Germany have revealed that they are developing a real-time warning system that combines 5G technology with high-precision localization to make traffic safer and reduce the incidence of traffic accidents. The system sends hazard reports to automobiles and their occupants in real-time, allowing them to react quickly. Moreover, automotive manufacturers are developing advanced autonomous automotive technologies through the utilization of state-of-the-art camera systems for ensuring the safety of the vehicle and its occupants. For instance, Tesla has revealed plans to develop camera-only self-driving technology without the use of Lidar as a part of the Dojo project.
The increase in the demand for autonomous technologies in the automotive industry propels the growth of the automotive camera & camera module market during the forecast timeframe.
By Application
ADAS is projected as the most lucrative segment
Rise in demand for safety application by automotive customers
The automotive industry has observed an increase in demand for safety features such as lane departure warnings systems, collision warnings systems, active cruise control systems, emergency braking systems, headlight control systems, traffic sign recognition systems, and other safety systems. The increase in demand for safety systems by automotive customers has led to the development of advanced automotive cameras and camera modules. Camera manufacturers are working to advance automotive camera technology to improve the vehicle's ability to gather essential vehicle environment information while also improving the vehicle's driving dynamics. For instance, the new Mercedes-Maybach S-Class launched in 2021, has a roof-mounted camera that delivers real-time footage to the center display panel, which assists the user in maneuvering through the vehicle's satellite navigation systems. In addition, automotive manufacturers are collaborating with camera manufacturers to develop camera technologies to enhance the vehicle's safety capabilities. For instance, in June 2021, Volvo Trucks North America has announced the launch of the fifth generation of Bendix Commercial Vehicle Systems SafetyDirect Processor on Volvo VNL, VNR, and VHD vehicles. The processor includes a driver-facing camera with infrared technology for greater visibility in low light circumstances, ensuring the vehicle's safe operation. Automobile customers have increased the installation of aftermarket cameras to help drivers overtake safely, shift lanes, and enable general vehicle operations, driving the demand for automotive cameras and camera modules around the world. Electronic companies have increased their effort in manufacturing automotive cameras owing to the rise in demand for aftermarket vehicle cameras. For instance, in June 2021, Garmin has launched the 2021 dashcam series, which has voice control, automatic video storage, and live view monitoring capabilities. Drivers can use the cameras to capture any incident that occurs in front of their vehicle.
The ability of automotive cameras to enhance the safety of the vehicle acts as a key driver for the growth of the automotive camera & camera module market during the forecast timeframe.
By Technology
Infrared is projected as the most lucrative segment
The fluctuating price of raw materials used in manufacturing automotive camera
Fluoride compounds, glass, quartz glass, fluorite, plastics including acrylic, germanium, and meteoritic glass are common raw materials used to make an automotive camera. All of these raw material prices fluctuate due to a variety of international factors such as an increase in global transportation and logistics costs, availability of raw materials, and other factors. For instance, in May 2021, around 50 float glass producers in China disclosed price raising plans including float glass, Low-E coated glass, mirrors, low iron glass, and others. The average glass works price for clear float glass stood at $405/Metric tons in May 2021, which is approximately twice than that of May 2020. in January 2021. Glass is a vital component in the manufacturing of car cameras, and price fluctuations can have an impact on the overall operations of a camera manufacturer. Lens system and image sensor are the most important components for normal camera operation in most automobile cameras. The development of infrared and thermal cameras, among other advancements, has increased the need for electrical and electronic chips to process data from sensors. There have been fluctuations in the price of electronic chip raw materials due to trade wars and introduction of customs duties, tariffs, and restrictions on the import of raw materials such as silicon, semi-conductors, and other raw materials around the world. For instance, in October 2018, over 800 categories of Chinese imports will face 25% tariffs, according to the U.S. administration. These tariffs apply to almost every component used in the production of electronic equipment, including resistors, capacitors, semiconductors, microcontrollers, and even the raw materials used to make printed circuit boards. Minor changes in the price of raw materials can have a significant impact on the price of the cameras since automobile cameras are mass-produced in large quantities. Fluctuating costs of materials used in manufacturing automotive cameras are expected to hinder the growth of the global automotive camera and camera module market during the forecast period.
By Vehicle Type
Electric vehicle is projected as the most lucrative segments
Implementation of cameras as an alternative surround view system
Automotive cameras provide better environmental monitoring capabilities, allowing the driver to operate the vehicle efficiently. The cameras deliver a wider field of view that helps the driver with a variety of tasks, including monitoring blind spots, changing lanes on the highway, and parallel parking without grinding the wheels. Advanced camera technologies, including 360-degree video systems and stereo vision technologies, have been used by automobile manufacturers to offer users a comprehensive picture of their surroundings, allowing for improved sight and maneuverability. For instance, Mustang Mach-E launched by Ford features a 360- degree camera offering a surround-view of the vehicle to the driver. Advanced environmental monitoring features are implemented in luxury vehicles or top-end variants of automobiles.
By Distribution Channel
OEM is projected as the most lucrative segments
Non-luxury or the non-premium segment vehicles offer an opportunity for the growth of the camera-based monitoring systems. Development of sophisticated automobile camera monitor systems results in the evolution of automotive camera technology. These systems can be installed in automobiles to replace traditional side-view mirrors. Several car manufacturers, including Aston Martin and KTM, are developing a mirror replacement system that includes a camera, a controller, and a display. The deployment of a digital rear-view mirror has been authorized by European governments and other developed countries, facilitating the development of a digital rear-view monitoring system. In addition, as compared to radar and LiDAR, automotive cameras provide high-quality perception at a considerably cheaper cost. Automotive cameras can also be used for range measuring with high accuracy, which encourages their use in ADAS for monitoring the vehicle's surroundings. Implementation of cameras as an alternative environment monitoring system in an automobile presents an opportunity for the growth of the automotive camera & camera module market.
By Region
Asia Pacific would exhibit the highest CAGR of 13.3% during 2021-2028.
COVID-19 Impact Analysis
- The COVID impact on the automotive camera & camera market is unpredictable and it is expected to remain stunted till the second quarter of 2021.
- The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and made social distancing mandatory to contain the spread of the virus. Consequently, several organizations started work from home programs as safety measures. This led to sudden fall in demand for automobiles across the world.
- Moreover, nationwide lockdowns disrupted the supply-chain as several manufacturing facilities across the globe had to partially or fully shut down their operations.
- The adverse impacts of the COVID-19 pandemic resulted in huge supply-demand issues globally.
Key Benefits For Stakeholders
- This study presents the analytical depiction of the automotive camera & camera market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall automotive camera & camera market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the automotive camera & camera market with detailed impact analysis.
- The current automotive camera & camera market is quantitatively analyzed from 2021 to 2028 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Type
- Single View
- Multi View
By Application
- Park Assist
- ADAS
By Technology
- Digital
- Thermal
- Infrared
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
By Distribution Channel
- OEM
- Aftermarket
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Spain
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Players
- Aptiv PLC
- Veoneer Inc.
- Continental AG
- DENSO Corporation
- Ficosa Internacional SA
- Magna International Inc.
- Intel Corporation
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Hyundai Mobis Co., Ltd.
- Valeo
Automotive Camera & Camera Module Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By APPLICATION |
|
 By TECHNOLOGY |
|
 By VEHICLE TYPE |
|
 By DISTRIBUTION CHANNEL |
|
 By Region |
|
 Key Market Players | ZF FRIEDRICHSHAFEN AG, VEONEER INC., CONTINENTAL AG, APTIV PLC, HYUNDAI MOBIS CO., LTD., INTEL CORPORATION, MAGNA INTERNATIONAL INC., FICOSA INTERNACIONAL SA, ROBERT BOSCH GMBH, DENSO CORPORATION, VALEO |
Analyst Review
The automotive camera & camera module market is expected to witness significant growth globally due to the rise in deployment of autonomous technologies for reducing accidents and increasing convenience in driving the vehicle.
Automotive camera manufacturers are focusing on artificial intelligence related advances, according to leading CXOs. Recent advancements in automotive cameras and camera modules are expected to provide a profitable opportunity for market development. For instance, Magna has announced the development of camera-based technology in April 2021 that notifies drivers when they divert their gaze away from the road for an extended period of time. The solution is incorporated into an interior mirror to identify distracted driving, fatigue, and weariness by monitoring the driver's head, eye, and body movement. In addition, automotive camera manufacturers are creating cutting-edge technology to improve vehicle performance. For instance, in March 2021, Foresight Autonomous Holdings Ltd. approved the sale of a prototype of its QuadSight four-camera vision system to a prominent Japanese producer of stereo vision systems for the automotive industry in the U.S. Such innovations made by companies all over the world contribute to the global expansion of the automotive camera & camera module market.
Factors such as increase in demand for autonomous vehicles, rise in demand for safety application by automotive customers and government legislation and regulations mandating the installation of cameras in vehicles accelerate the growth of the automotive camera & camera module market. However, the fluctuating price of raw materials used in manufacturing automotive camera and software failures associated with automotive camera are the factors, which hamper the growth of the automotive camera & camera module market. Conversely, implementation of cameras as an alternative surround view system and increase in the number of traffic accidents are expected to provide lucrative opportunities for the expansion of the automotive camera & camera module market.
Automotive cameras & camera modules are effective vehicle monitoring systems that improve vehicle safety. It uses visual surveillance and artificial intelligence to provide advanced assistance features including brake assist, park assist, and advanced driver-assist systems (ADAS). The purpose of the automotive camera systems is to improve the driving experience by providing assistance in operating multiple components and functions of the vehicle.
Among the analyzed regions, North America is the highest revenue contributor, followed by Europe, Asia-Pacific, and LAMEA. On the basis of forecast analysis, Asia-Pacific is expected to deliver fastest growth potential during the forecast period, owing to the boom of automotive industry in the region.
The global automotive camera & camera module market size was valued $7,048.1 million in 2020 and is projected to reach $16,223.8 million in 2028,
The global automotive camera & camera module market is projected to grow at a compound annual growth rate of 11.9% from 2021-2028 to reach USD 16,223.8 million in 2028
The key players that operate in the automotive camera & camera module market such as ZF FRIEDRICHSHAFEN AG, VEONEER INC., ROBERT BOSCH GMBH, INTEL CORPORATION, APTIV PLC, VALEO, MAGNA INTERNATIONAL INC., HYUNDAI MOBIS CO., LTD., DENSO CORPORATION, CONTINENTAL AG, FICOSA INTERNACIONAL SA.
APAC is projected as one of the most significant region.
automotive camera & camera module market Fluoride compounds, glass, quartz glass, fluorite, plastics including acrylic, germanium, and meteoritic glass are common raw materials used to make an automotive camera.
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