Automotive Camera Market Size, Share & Industry Analysis, By Application Type (Park Assist System, Lane Departure Warning System, Lane Keep Assist, Adaptive Cruise Control, Road Sign Assistance, Blind Spot Detection, Intelligent Headlight Control and Others), By Technology Type (Stereo and Monocular), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2020-2027

The global automotive camera market size is projected to reach USD 10.1 billion by 2027 from its value USD 3.8 billion in 2019, at CAGR of 21.5% during the forecast period.

Cameras used in automobiles are designed to capture HD videos and enhance the driver’s field visibility to spot different obstacles. In recent years, automotive cameras have become one of the most vital components in vehicles as they are integrated with advanced driver assistance systems (ADAS). This integration plays a vital role as they detect obstacles located in the blind spot area of the vehicle. The cameras are installed in the front, side, rear, and interior of the vehicle. Various governments have imposed stringent norms on manufacturers to install cameras in all vehicle segments. For instance, in the US, the Department of Transportation has made it mandatory to install rear view cameras in all new vehicles in order to enhance the safety of pedestrians, bicyclists, and children. Additionally, the cameras also play a vital role at the time of road accidents, as the real-time recorder video is used as proof for legal protection and to claim insurance. Increasing road accidents have fueled the demand for these cameras in recent years.

COVID-19 Impact: Halt of Production of Vital Components in Developing Countries to Decline Growth

The COVID-19 pandemic has affected the automotive camera industry growth, since its emergence in early 2020. The pandemic has severely hindered the global automotive industry. The automotive sector is facing the heat amid a sharp decline in production and sales of vehicles. Continuous lockdown in several countries has affected cross-border trades that have resulted in increased prices of raw materials. With increasing number of COVID-19 cases daily and strict imposition of social distancing measures, major global OEMs (such as Bosch, Omnivision, Aptiv, Continental, etc.) have either considerably reduced or stopped production entirely. Due to the suspension of production, major manufacturers are facing huge losses. For example, Aptiv's revenue in the first quarter of 2019 was US$1.023 billion, while its revenue in the first quarter of 2020 fell by US$902 million, a sharp drop of 13%.

LATEST TRENDS

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Increasing Adoption of Trifocal Cameras to Emerge as a  Positive Market Trend

The growing adoption of technologically advanced trifocal cameras is a fast-emerging trend in the market. These cameras enhance long-distance object detection and depth perception. Trifocal cameras are  a combination of three different cameras with different megapixels. These cameras use sensors to provide accurate distance between the vehicle and the obstacle and also wider field view. Trifocal cameras have the ability to detect the sudden appearance of pedestrians, vehicles, or objects that may cause accidents and alert the drivers to steer away from these obstacles. The continuous development of autonomous and semi-autonomous vehicles is further fueling the demand for trifocal cameras in the automotive cameras market. For example, in July 2013 ZF and Mobileye partnered to develop ADAS camera technology. S-Cam4 is designed to meet updated test protocols such as Euro NCAP specifications. S-Cam4 also includes Tri-Cam4 technology which enhances long-distance sensing and fish-eye view, allowing short-distance sensing.

DRIVING FACTORS

Stringent Safety Norms Imposed by Governments to Drive Growth

According to the World Health Organization (WHO) around 1.3 million people die each year in road accidents. Due to the increasing number of road traffic accidents, governments around the globe have made it mandatory to install cameras in all segments of vehicles. Stringent norms imposed by the government are driving the market growth. For example, in 2014, the National Highway Traffic Safety Administration (NHTSA) made it mandatory to equip all vehicles with cameras integrated with rear view visibility systems by 2018. Similarly, Transport Canada imposed regulations to equip all new cars with a rearview camera by 2018.

Increasing Adoption of Advanced Cameras in Vehicles to Boost the Market

Increasing adoption of advanced cameras integrated with the Advanced Driver Assistance System (ADAS) is expected to drive the market during the forecast period. For example, cameras integrated with Driver Monitoring System (DMS) detect drowsy behavior of the driver. A combination of these components focuses on the driver’s driving pattern and facial expressions. If the driver’s driving pattern changes, the DMS sends a warning signal to the driver. Further, if the driver doesn’t stop the vehicle, the DMS along with adaptive cruise control steers the vehicle away from the road and stops it automatically. Additionally, cameras integrated with the ADAS system are used in various applications such as lane keep assist, park assist, adaptive cruise control (ACC), etc. The growing inclination of consumers towards ADAS is boosting the growth of the global market.

RESTRAINING FACTORS

High Installation Cost of Advanced Cameras to Restrain Market Growth

The high Installation cost of advanced automobile cameras integrated with driver assistance systems is restraining the growth of the market. Increasing adoption of driver assistance systems has driven the demand for multiple cameras in vehicles. These cameras are used for parking assistance, lane keep assists, and blind-spot detection applications. The multi-camera system has complicated connections and increased electronic systems and wiring. Therefore, the installation of a multi-view camera results in the installation of other components, which in turn increases the cost of the vehicle.

SEGMENTATION

By Application Type Analysis

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 Adaptive Cruise Control Segment to Dominate the Market

Based on application type, the market for automotive camera is segmented into park assist, lane departure, adaptive cruise control (ACC), blind-spot detection (BSD), lane keep assist, road sign assistance, and others. The adaptive cruise control segment is anticipated to dominate the market over the forecast period. For example, in September 2018, the Government of India made it mandatory to equip all vehicle segments with adaptive cruise control systems. The government aims at equipping all vehicles with ACC by 2022. Adaptive cruise control also helps to maintain a safe distance between two cars and if any vehicle is nearing the car, it alerts the driver to apply the brakes. If the driver fails to do so, the ACC automatically applies the brakes, brings the vehicle to a halt, and avoids a collision.

The blind-spot detection system holds the second-largest position in the market. The system combines advanced sensors and cameras to detect obstacles around the vehicle and warns the driver about the sudden appearance of obstacles.

Park assist segment is expected to show a decent growth over the forecast period. Rising adoption of park assist sensors in the commercial vehicle segment is fueling its growth in the market. For example, in March 2019, Indian government made it mandatory to equip park assist systems in all vehicle segments manufactured from April 2020.

By Technology Type Analysis

Stereo Segment to Hold the Largest Market Share

Based on technology, the market is segmented into monocular and stereo. The stereo segment is expected to dominate the automotive camera market share during the forecast period. In recent years, the stereo camera has been increasingly integrated with advanced driver assistance features such as adaptive cruise control (ACC), lane keep assist, and forward-collision warning system. These cameras consist of two cameras which accurately calculate the distance between the obstacle and the vehicle. These cameras not only record the videos but are also capable of detecting the speed of the vehicle ahead. Key OEMs are focusing on enhancing the capabilities of stereo cameras. For example, Thinkware launched an advanced F200 camera that has the capability to record wide-angle 1080HD videos at the front end of the vehicle and a 720p HD camera to record the rear end of the vehicle. This advanced camera also has a Wi-Fi connection and can be connected to a smartphone to download the real-time video.

The monocular camera segment is expected to show good growth in the market owing to its low cost, less maintenance, low power consumption, and rising adoption in entry-level vehicles.

By Vehicle Type Analysis

Passenger Car Segment to Hold the Largest Market Share

Based on vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger car segment holds the largest share in the global market. Rising sales and production, growing adoption of advanced safety features such as ACC, BSD, park assist, etc. are some of the key factors that are maintaining the dominance of the passenger car segment in the market. Additionally, increasing the adoption of 360-degree view cameras is also another reason fueling the demand for passenger vehicles and cars over the forecast period.

The commercial vehicle segment is expected to show decent growth over the forecast period. Growing dependency on commercial vehicles has encouraged regulating bodies to initiate less fatigue-producing and safe driving conditions by standardizing a camera-based driver assistance system. For example, the European Union (EU) has made it mandatory to install pedestrians’ detection and warning systems in all commercial vehicle segments from 2022.

REGIONAL INSIGHTS

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Based on region, the market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to dominate the market on account of the stringent vehicular safety norms imposed by the EU. For example, the EU has introduced new safety standards and regulations such as pedestrian safety regulations (EC)78/2009 and general safety regulation (EC)661/2009 for automobile manufacturers to curb the rising number of road accidents.

Asia Pacific holds the second-largest position in the market. Rising demand for cost-effective Asian-made components in North America and Europe is expected to enable the region to maintain its prominent position in the global market. The rising sale of passenger cars is expected to further drive the market in this region.

North America is anticipated to show good growth in the market.  The U.S is expected to show dominance in this region amid the safety regulations imposed by the government.  For example, in May 2018, the US Transportation Department made it mandatory to install rear view cameras in vehicles weighing less than 10,000lbs.

KEY INDUSTRY PLAYERS

Leading Players to Focus on Developing Advanced Digital Solutions

Key players in the global camera market include manufacturers such as Autoliv, Omnivision, Ambarella, Denso, Continental AG etc.

Omnivision is the major player in this market. It is one of the leading players in developing technologically advanced digital imaging solutions. The company  is focused on developing advanced  digital solutions and meeting  consumers'  expectations and safety norms imposed by  governments. In the past few years, the company has achieved ISO 9001:2015 certifications and the prestigious ISO TS 16949 certification in Shanghai for its test facility and manufacturing unit. Acquiring standard  certifications and increasing partnerships with key players to develop  advanced products is strengthening the company’s global market position.

LIST OF KEY COMPANIES PROFILED:

•  Autoliv, Inc. (‎Stockholm, Sweden)


• Continental AG (Hanover, Germany)


• ZF Friedrichshafen  (Friedrichshafen, Germany)


• Robert Bosch GmbH (Gerlingen, Germany)


• Ricoh (Tokyo, Japan)


• Valeo (Paris, France)


• Magna International (Aurora, Canada)


• Denso (Aichi, Japan)


• Garmin Ltd (Kansas, United States)


• OmniVision (California, United States)


• Mobileye (Jerusalem, Israel)


• Kappa optronics GmbH (Lower Saxony, Germany)


• Ambarella (California, United States)

KEY INDUSTRY DEVELOPMENTS:

• In July 2021, Continental, has acquired a minority stake in the German-U.S start-up Recogni. The company is working on a new chip architecture for object recognition on AI that can perform rapid processing of sensor data for autonomous driving.


• In February 2020, Continental announced the construction of a new plant in New Braunfels in Texas, United States. The purpose of the new building is to expand its capacity to produce radar sensors in advanced driver assistance systems (ADAS).

REPORT COVERAGE

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The market research report of automotive cameras provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market over recent years.

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