Automotive Camera Market to Surge at 10.9% CAGR over 2023 to 2030; Woven Planet Announces a Camera-only Approach to Reduce Production Costs

The global automotive camera market size stood at USD 7.98 billion in 2022. The market value is slated to rise from USD 8.81 billion in 2023 to USD 18.18 billion by 2030 at a CAGR of 10.9% during 2023-2030. The expansion is due to the growing product usage for a range of applications such as Adaptive Cruise Control (ACC), blind spot detection, and lane departure warning for helping to avoid collisions with vehicles and obstacles.

Fortune Business Insights™ presents this information in its report titled “Automotive Camera Market Size, Share & COVID-19 Impact Analysis, By Type (Stereo and Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blind Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, and Others), By Technology Type (Digital Camera, Infrared Camera, and Thermal Camera), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecasts, 2023-2030”.

Supply Chain Disruptions Hampered Market Growth During COVID-19 Pandemic

The pandemic period saw the enforcement of lockdown restrictions by the governments of several countries. This led to disruptions in supply chain, hindering industry growth to a considerable extent. However, the growing emphasis on mass vaccination in the latter period helped the revival of industry demand.

Cariad Inks Extended Agreement with Bosch to Strengthen Industry Foothold

In January 2022, Cariad, a subsidiary of the Volkswagen Group, entered into an extended agreement with Bosch. The deal was focused on making highly and partially automated driving suitable for volume production.

For the same, the companies intended to jointly develop a standardized, state-of-the-art software platform. The aim was the deployment of this platform in privately-used vehicle classes.

Soaring Adoption of 360-degree Cameras to Propel Industry Expansion

One of the major factors propelling the automotive camera market growth is the surging adoption of 360-degree cameras. These help the driver in safely navigating through crowded parking spaces and congested areas.

However, the industry expansion could be restrained by the high cost related to the installation of automotive cameras.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/automotive-camera-market-101912

Major Companies Ink Partnership Deals to Gain Strong Market Footing

Leading industry participants are centered on adopting a series of strategic initiatives for strengthening the positions of their businesses. These comprise acquisitions, partnership agreements, mergers, and the launch of new solutions. Additional factors include an increase in R&D activities and the development of new products.

Key Players Profiled:

• Robert Bosch GmbH (Germany)


• Autoliv, Inc (Sweden)


• Continental AG (Germany)


• ZF Friedrichshafen AG (Germany)


• Denso Corporation (Japan)


• Ricoh (Germany)


• Magna International Inc. (Canada)


• Garmin Ltd (U.S.)


• Valeo (France)


• OmniVision (U.S.)


• Mobileye (Israel)


• Aptiv Plc (Ireland)


• Brigade Electronics Group Plc (U.K.)

Notable Industry Development

• April 2022 – Woven Planet, a subsidiary of Toyota, announced a camera-only approach to autonomous driving instead of deploying LiDAR measurement technology. The company intended to deploy low-cost cameras for the expansion of AV technology and the reduction of production costs.

Further Report Findings

• The enforcement of stringent regulatory norms is anticipated to augment the Europe automotive camera market share. The region is poised to account for a dominating share in the market.


• The North America market is slated to depict an appreciable surge over the study period. The expansion is propelled by the imposition of stringent safety regulations for the reduction of traffic accidents.


• Based on application type, the market for automotive cameras is segmented into park assist system, road sign assistance, intelligent headlight control, lane departure warning system, Adaptive Cruise Control (ACC), lane keep assist, blind spot detection, and others. The park assist system segment is touted to grow at a remarkable pace over the estimated period.

Table of Segmentation