Automotive Camera Market Forecast 2027: Projected Growth and Opportunities | Techsci Research

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Automotive Camera Market Projections Show CAGR
of 17.21 and Exceed USD10.345 Billion by 2027
TechSci Research has reported that the Global
Automotive Camera Market is expected to reach
USD 10.345 billion at a CAGR of 17.21 by 2027.
This growth is due to the rapid expansion of
vehicle production and advancements in
technology, which promote the adoption of ADAS.
Automotive cameras are utilized in parking
assistance, blind spot detection, surround view
systems, and traffic sign detection, among other
applications. ADAS features will be required to
make front-facing cameras and radars standard
equipment by 2024, according to EU regulations.
Pedestrian fatalities account for more than 70
of deaths in dark environments, according to the
Governors Highway Safety Association (GHSA). As a
result, thermal cameras are expected to drive
growth in this segment
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because they can provide reliable and safe ADAS
features during the night. The market for
automotive cameras is expected to grow
significantly and reach USD 10.345 billion by
2027, driven by a rise in the standard of living
and a shift toward technologically advanced
features. China currently has the largest market
share due to its large vehicle production, but
the US is expected to overtake China by 2027 due
to higher camera penetration rates. The number of
cameras per vehicle is expected to increase as
technology improves, resulting in substantial
growth in the global automotive camera market, as
cameras are an essential component of image
capturing and image processing algorithms in
ADAS. Browse more than 196 market data Figures
spread through 110 Pages and an in-depth TOC on
"Global Automotive Camera Market " -
https//www.techsciresearch.com/report/automotive-
camera-market/12870.html The global COVID-19
pandemic had a negative impact on many
industries, including the automobile industry,
which experienced a reduction in production and
sales of automobiles in 2020. Nevertheless, the
automotive camera market demonstrated positive
growth due to the global increase in the number
of cameras per vehicle and camera penetration
rate. Although the future of ADAS is promising,
the pandemic's aftermath has clouded its outlook.
This uncertainty is impacting the adoption of
ADAS in several nations, such as the United
States. The global automotive camera market is
segmented into digital cameras and thermal
cameras based on technology type. The sales of
digital cameras have increased in many countries
over time, as many automotive manufacturers are
taking steps to increase the number of cameras
per car because they can help reduce the risk of
accidents.
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TechSci Research has segmented the Global
Automotive Camera Market based on camera type,
vehicle type, camera class, application,
technology, region, and competition. Currently,
monocular cameras hold the majority market share,
accounting for 85 of the market. However, the
demand for stereo cameras is gradually
increasing with the advancement of
technology. Automotive cameras are most commonly
used in passenger vehicles, followed by light
commercial vehicles and heavy commercial
vehicles. Medium-class segment holds close to 50
of the total market share. ADAS is one of the
fastest-growing segments in the automobile
industry and is expected to become a standard
feature in vehicles in the coming years. Digital
cameras are widely used in automobiles due to
technological advancements, while thermal
cameras are growing at a slower rate due to image
processing complexity. In 2021, Europe accounted
for the largest market share, i.e., 36.93 in
the global automotive camera market. TechSci
Research's Research Director, Mr. Karan Chechi,
stated that having a camera in a car offers many
benefits, such as recording the surroundings of a
parked vehicle and submitting dash cam footage
to insurance companies. Magna International
Inc., Autoliv Inc., Robert Bosch GmbH,
Continental AG, Aptiv Plc (Delphi Automotive
Plc), Denso Corporation, Aei Inc., Gentex
Corporation, Omni Vision Technologies Inc.,
Valeo SA, and ZF Friedrichshafen are the key
players in developing advanced technologies and
launching new products to stay competitive in
the market. Local unorganized car dealers are
also increasing their marketing activities and
enriching their product portfolio in many
countries to increase their customer
outreach. Competitive strategies include mergers
with tech firms, new product developments, and
marketing activities to increase their customer
outreach. Download Sample Report
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Customers can also request for 10 free
customization on this report. The global
automotive camera market appears to be one of the
fastest expanding categories in the vehicle
industry. Passenger vehicles accounted for the
highest share of the Global Automotive Camera
Market, with around 75 of total market and are
likely to continue dominating throughout the
forecast period., said Mr. Karan Chechi,
Research Director with TechSci Research, a
research- based global management consulting
firm. Automotive Camera Market - Global Industry
Size, Share, Trends, Competition, Opportunity,
and Forecast, 2017-2027, Segmented By Camera
Type (Monocular Camera, Stereo Camera), By
Vehicle Type (Passenger Car, Light Commercial
Vehicle, Heavy Commercial Vehicle), By Camera
Class (Entry Level, Medium, Premium), By
Application (Rear View Assist, ADAS), By
Technology (Digital Cameras, Thermal Cameras),
By Region has evaluated the future growth
potential of global automotive camera market and
provides statistics information on market
size, structure, and future market growth. The
report intends to provide cutting-edge market
intelligence and help decision makers take sound
investment decisions. Besides, the report also
identifies and analyzes the emerging trends
along with essential drivers, challenges, and
opportunities in the global automotive camera
market. Download Sample Report-
https//www.techsciresearch.com/sample-report.aspx
?cid12870 About TechSci Research TechSci
Research is a research-based management
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advisory solutions to its customers worldwide,
spanning a range of industries. TechSci
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insight. Led by a team of dynamic industry
experts, TechSci Research provides its customers
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