Automotive Camera Global Market Report 2023: Government Initiatives for Vehicle Safety Features in Developed and Emerging Economies Bolster Sector

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Apr 28, 2023, 20:30 ET

DUBLIN, April 28, 2023 /PRNewswire/ -- The "Automotive Camera Market by Application (ACC, BSD, LDW, FCW, AFL, IPA, Driver Monitoring System & Night Vision), View (Front, Rear, Surround), Technology, Level of Autonomy, ICE-Electric & Hybrid Vehicle, Application & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The automotive camera market is projected to grow from USD 8.0 billion in 2023 to USD 13.9 billion by 2028, at a CAGR of 11.7%. Camera systems and technologies are being deployed in an ever-increasing range of applications in the vehicle to control the vehicle and augment the driving experience.

Recent developments in camera technology are allowing automotive manufacturers to reimagine and redesign the vehicle silhouette through the replacement of some traditional features, for example, manufacturers are coming up with mirrorless vehicles. Owing to government regulations for adopting safety features play a significant role in driving the ADAS market which in turn fuels the automotive camera market growth. For instance, the European Commission (EC) published 11 new safety features to be mandated for new cars. The list includes several existing ADAS functions, specifically autonomous emergency braking, lane-keeping assistance, intelligent speed assistance system, and a reversing camera/rear detection system.

Hence, the rise in the trend of integrating additional safety features in modern vehicles is primarily driving the growth of the automotive camera market in recent years. National Agency for Automotive Safety & Victims Aid (NASVA) Japan established partnerships and collaborations with the government and industries to encourage the advancement of ADAS Features in new vehicles. Currently, Adaptive Cruise Control, and Lane Departure Warning are some features which become commercialized in Japan which will further drive the automotive camera market in this country.

The rising penetration of ADAS features in automotive vehicles is expected to transform the overall automotive sector. It reduces driving complexity with features such as a park assist system, adaptive cruise control, etc. Further, government mandates related to some safety features in countries like U.S., Japan, China, and European countries will create lucrative opportunities for the growth of the automotive camera market. The automotive camera would provide optimum results and cost against advanced sensors like LiDAR and RADAR. Due to this, automotive cameras are anticipated to grow in line with the improving adoption of ADAS solution features in the global market.

The front-view camera segment is projected to dominate the market.

A front-view camera will lead the market over the forecast period. Most ADAS applications work based on front-view cameras such as adaptive cruise control, forward collision warning, lane assist & lane departure warning, and traffic sign recognition. According to this analysis, Asia Pacific is the prominent region that is contributing to the segmental growth of front-view cameras. This growth is attributed to the offering of these front-view cameras by key OEMs like Mazda, Lexus, Mahindra & Mahindra, Honda, etc. in their variants which will further shape the market in the forecast period. This front camera aims to cover the wide range of the vehicle's front area, enhance the active safety features, and play an important role in driver assistance functions. The ADAS application using front view cameras plays a vital role for automakers in complying with New Car Assessment Program standards which are influential in reducing accidents. OEMs in developing countries such as China and India have started offering ACC features in mid-variants and are expected to remain in focus as a strong selling point. This will boost the demand for front-view cameras in the years to come globally.

The Level 2 & 3 Vehicles are expected to be the largest market for cameras.

Level 1 vehicles hold the largest market presently, whereas Level 2 & 3 vehicles are projected to dominate the automotive camera market in coming years. The dominance of Level 1 vehicles is mainly due to the higher production of vehicles in China, India, Japan, and South Korea, with the first level of autonomy. OEMs from this region usually provide ADAS features like ACC, LDW, FCW, and backup cameras for reverse parking. This allows OEMs to distinguish themselves with minimal additional cost and the inclusion of an advanced feature to influence consumer buying decisions.

Alternatively, Level 2 & 3 vehicles are the largest in value owing to multiple cameras combined with other sensors such as RADAR and LIDAR. These are installed for more advanced features such as adaptive cruise control, lane centering, traffic sign recognition, blind spot detection, driver monitoring systems, etc.

Companies such as Mazda (Japan), Honda (Japan), Nissan (Japan), Toyota (Japan), Stellantis (Netherlands), Renault (France), BMW (Germany), Mercedes-Benz (Germany), and Ford (US), among others, have launched models with level 2 automation in recent years. For instance, Audi (Germany), launched its new Q8 with level 2 automation in 2023. Similarly, in 2023, Volvo (Sweden) launched its Polestar 3 EV, which also comes with level 3 automation. Furthermore, Ford's F-150 pickup launched in 2022 also comes with level 2 automation.

Market Dynamics

Drivers

Government Initiatives for Vehicle Safety Features in Developed and Emerging Economies
Increasing Penetration of Camera-Based Convenience Features in Luxury Vehicles Generating Positive Impact on Fully Autonomous Vehicles

Restraints

Lack of Supportive Infrastructure for Automotive Camera-Based Adas Applications in Emerging Economies

Opportunities

Rising Demand for Electric Vehicles

Challenges

Limitations in Real-Time Image Processing in Surround-View Systems

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Automotive Camera Market, by Technology
6.1 Introduction
6.2 Digital
6.2.1 Increased Adoption of Digital Cameras in Several Applications to Drive Market
6.3 Infrared
6.3.1 Deployment of Night Vision Systems in High-End Cars to Boost Demand
6.4 Thermal
6.4.1 Clear Object Detection Features of Thermal Cameras to Increase Their Demand

7 Automotive Camera Market, by Ice Application
7.1 Introduction
7.2 Adaptive Cruise Control (ACC)
7.2.1 Investments by Oems to Boost Market
7.3 Adaptive Cruise Control + Forward Collision Warning (Acc+Fcw)
7.3.1 Improvement in Rating Systems to Enhance Features
7.4 Adaptive Cruise Control + Forward Collision Warning + Traffic Sign Recognition (Acc+Fcw+Tsr)
7.4.1 Good Road Infrastructure to Contribute to Growth of Segment
7.5 Blind Spot Detection (BSD)
7.5.1 Mandates to Reduce Blind Spots in Commercial Vehicles in the EU to Support Market
7.6 Blind Spot Detection + Lane Keep Assist + Lane Departure Warning (Bsd+Lka+Ldw)
7.6.1 Plan to Make Ldw Mandatory in Developed Economies to Influence Market Positively
7.7 Adaptive Lighting Systems (Als)
7.7.1 Europe and North America to Lead Market
7.8 Intelligent Park Assist (Ipa)
7.8.1 Developments by Oems to Upgrade Features to Help in Market Growth
7.9 Driver Monitoring Systems (DMS)
7.9.1 Car Assessment Programs in Europe to Play a Positive Role in Market Growth
7.10 Night Vision Systems (Nvs)
7.10.1 Development of Advanced Hazard Detection Systems to Generate Positive Impact on Market
7.11 Park Assist (Pa)
7.11.1 Mandates Supporting Camera Functions in Europe and Bric to Favor Market Growth

8 Automotive Camera Market, by Vehicle Type
8.1 Introduction
8.1.1 Industry Insights
8.2 Passenger Cars
8.2.1 Growing Preference for Advanced Safety Features to Fuel Camera Installation in Passenger Cars
8.3 Light Commercial Vehicles
8.3.1 High Adoption of Dash Cameras in Light Commercial Vehicles to Propel Segment
8.4 Heavy Commercial Vehicles
8.4.1 Demand for Driver Monitoring Systems and Collision Warning Systems to Boost Market

9 Automotive Camera Market, by View Type
9.1 Introduction
9.2 Front View
9.2.1 Wide-Scale Application of Front View Cameras to Raise Demand
9.3 Rear View
9.3.1 Government Mandates for Park Assistance to Create Further Demand for Rear-View Cameras
9.4 Surround View
9.4.1 Bird Eye View of Surround View Cameras to Generate Growth Opportunities

10 Electric and Hybrid Vehicle Camera Market, by Ev Type
10.1 Introduction
10.2 Battery Electric Vehicles (Bevs)
10.2.1 Increasing Adoption of Battery Electric Vehicles to Drive Market
10.3 Plug-In Hybrid Electric Vehicles (PHEVs)
10.3.1 Introduction to Park Assist and Other Adas Features to Boost Market
10.4 Fuel Cell Electric Vehicles (FCEVs)
10.4.1 Integration of Adas Features to Propel Market

11 Electric and Hybrid Vehicle Camera Market, by Application
11.1 Introduction
11.2 Adaptive Cruise Control (ACC)
11.2.1 Advanced Versions to Offer Better Safety Features
11.3 Adaptive Cruise Control + Forward Collision Warning (Acc+Fcw)
11.3.1 to Help Improve Fuel Efficiency by Reducing Unnecessary Acceleration and Braking
11.4 Adaptive Cruise Control + Forward Collision Warning + Traffic Sign Recognition (Acc+Fcw+Tsr)
11.4.1 Ability to Prompt in Case of Immediate Approach to Traffic Signal to Stop and Prevent Collision to Drive Demand
11.5 Blind Spot Detection (BSD)
11.5.1 Important Adas Feature to Help Pedestrians and Cyclists to be Aware of Evs on Roads
11.6 Blind Spot Detection + Lane Keep Assist + Lane Departure Warning (Bsd+Lka+Ldw)
11.6.1 to Attract a Wide Range of Consumers
11.7 Adaptive Lighting Systems (Als)
11.7.1 Automatic Adjustment of Headlight Intensity Offered by Adaptive Front Lighting to Drive Demand
11.8 Intelligent Park Assist (Ipa)
11.8.1 to Reduce Risk of Accidents while Parking in Crowded or Tight Areas
11.9 Driver Monitoring Systems (DMS)
11.9.1 Ability to Alert Drivers to Potential Risks to Drive Market
11.10 Night Vision Systems (Nvs)
11.10.1 Use of Infrared Imaging Technology to Boost Demand for this Technology
11.11 Park Assist (Pa)
11.11.1 Demand for Safety Features while Reversing Vehicles to Propel Market in this Segment

12 Automotive Camera Market, by Level of Autonomy
12.1 Introduction
12.2 L1
12.2.1 1-2 Adas Functions with Reverse Parking Camera to Flourish Market Growth
12.3 L2 & L3
12.3.1 Stiff Competition to Expand Market Share for this Segment
12.4 L4/L5
12.4.1 Technological Developments in Fully Autonomous Vehicles to Push Demand

13 Automotive Camera Market, by Region

14 Analyst's Recommendations

15 Competitive Landscape

16 Company Profiles

17 Appendix

Companies Mentioned

Ambarella
Aptiv
Automated Engineering Inc (Aei)
Brigade Electronics
Continental Ag
Denso
Faurecia
Ficosa
Gentex Corporation
H.P.B. Optoelectronics Co. Ltd.
Hitachi Astemo, Ltd.
Hyundai Mobis
Kyocera Corporation
Magna International, Inc.
Mcnex Co
Mobileye
Omnivision
Robert Bosch
Samsung
Samvardhana Motherson
Stonkam Co. Ltd.
Teledyne Flir LLC
Valeo
Veoneer
Zf Friedrichshafen Ag

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