Automotive Camera Market will exhibit a CAGR of  21.5% during the forecast period, and USD 10.1 billion by 2027, and the Market value as per 2019 was USD 3.8 billion.

Fortune Business Insights™ in a new report, titled, “Automotive Camera Market Size, Share & Industry Analysis, By Technology Type (Stereo, Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blindl Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, Others), By Vehicle Type (Passenger Cars and Others), and Regional Forecast, 2019-2026.”

Automotive Camera Market Drivers and Restraint:

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.

List of Key Players Covered in the Automotive Camera Market Report:

•  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)

 To gain more insights into the market with a detailed table of content and figures, Click Here: https://www.fortunebusinessinsights.com/industry-reports/automotive-camera-market-101912

 Some of the key industry developments in the Automotive Camera Market Include:

• June 2020 – Omnivision launched the world’s first image sensor for vehicle cameras, which offers a combination of STEREO flicker mitigation (LFM) and 3-micron pixel size integrated with 140db HDR. It also consists of features such as lens correction and defect pixel correction.
• January 2019 – Ambarella launched the camera System on Chip (SoC) for driver assistance systems. This camera offers high resolution and consumes less power. It also consists of enhanced software and network processors that enable it to extract valuable data from high resolution video.
• January 2020– Garmin International Inc. launches its first dual lens dash camera known as the Garmin Dual Cam Tandem that offers wide-range coverage of the surrounding to the driver. Its 180-degree angle view lenses, 1440p high definition front facing camera and the NightGlo technology captures day and night images in the tandem.