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The Automotive Stereo Camera Market size is estimated to grow by USD 534.29 million at a CAGR of 8.75% between 2022 and 2027. The rise in demand for automotive safety solutions is fueling market expansion. A primary catalyst behind the advancement of safety systems within the automotive industry is the escalating apprehension regarding vehicle safety. With the uptick in accident occurrences, there is a burgeoning demand for safety functionalities such as ACC systems, lane assist systems, and FCW systems. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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This market report extensively covers market segmentation by application (passenger cars and commercial cars), type (static and dynamic), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The passenger cars segments are estimated to witness significant growth during the forecast period. The demand for passenger cars, which is directly connected to the economic development and demographics of a region. Based on application, as regards both volume and value, the passenger car segment continues to be at the head of the market.
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The passenger cars segment was the largest segment and was valued at USD 737.58 million in 2017. Despite the high growth of the passenger car market in APAC, few models have pre-fitted stereo cameras. A stereo camera, which is integrated with several advanced driver assistance systems, takes high-quality pictures of the surroundings of the vehicle.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US was the major contributor in North America. As safety features become more common in luxury cars, the country's demand is increasing. The high adoption of active safety systems like automatic emergency braking systems (AEBS) through ADAS is pushing the demand in North America. The US automotive market was one of the earliest markets to adopt AEBS. Additionally, legislation for the adoption of advanced safety systems is playing a pivotal role in the wider application of these in the region.
The automotive stereo camera market is witnessing robust growth, fueled by several factors. Consumer awareness and demand for sustainable and eco-friendly products are driving manufacturers to develop advanced technologies like night vision systems and penetration of safety systems. E-mobility is gaining traction, supported by favorable government policies and mandates. Companies are focusing on technological advancements and new technologies to meet growing demands. However, challenges such as supply disruptions and suspension of vehicle production due to external factors highlight the need for resilience and innovation in the industry. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for automotive safety solutions is a key driver for developing advanced safety systems in the automotive sector. This trend is fueled by a rising accident rate, prompting a higher need for safety features such as ACC systems, lane assist systems, and FCW systems. These safety systems play a crucial role in detecting obstacles around vehicles, making them more effective than radar-based ADAS like traffic sign recognition.
Consequently, they are viewed as ideal for enhancing the efficiency of ADAS. The growth of advanced safety systems is expected to directly correlate with the demand for stereo cameras in vehicles, especially during the forecast period.
The development of the smallest stereo video camera is a key trend. Increasing rear-end vehicle collisions are pushing the adoption of AEBS in vehicles globally. Of late, they are becoming an integral part of ADAS such as AEBS, as it helps the system to detect the vehicles and pedestrians ahead.
However, the obstacles to its wider use in the automotive industry are the high purchase and replacement costs associated with a stereo camera. The unique selling point (USP) of Robert Bosch's stereo camera technology is that it is integrated with the control unit for image processing and function control directly into the camera housing. It is anticipated that luxury automotive OEMs to follow the same during the forecast period, which will drive the adoption of stereo cameras propelling the market in focus growth during the forecast period.
The high costs associated with stereo cameras are a major challenge. The challenge of high costs linked to the stereo camera system is faced by the global market. An automotive stereo camera is an essential component to detect obstacles.
However, the replacement costs associated with these automotive cameras are moderately high. Furthermore, repair or replacement of equipment may become extremely costly in the event of a malfunction. The proscriptive costs involved with the installation cost are a significant challenge for consumers and are becoming a major hurdle in the growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence.
Autoliv Inc. - The company offers automotive stereo cameras such as EuroNCAP.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is experiencing rapid growth due to technological advancements and the increasing demand for advanced driver assistance systems (ADAS). These systems, including dynamic stereo cameras and stereo vision cameras, are being adopted by automobile manufacturers to enhance the driving experience and improve road safety. Camera technologies are evolving to offer higher resolutions and improved image processing algorithms, leading to the development of night vision systems, lane departure warning, and pedestrian detection systems. However, challenges such as malfunctioning camera components, cost reduction and supply chain disruptions are restraining market growth.
Emerging trends such as e-mobility and environmental awareness are driving the demand for sustainable and eco-friendly products in the automotive sector. Luxury vehicles are also adopting stereo cameras to meet consumer preferences for advanced safety systems. Japanese automotive suppliers and German automotive manufacturing companies are at the forefront of innovations in this market, investing in new technologies and competitively priced stereo camera solutions. Pioneer, a Japanese conglomerate, is one such example, offering stereo cameras that integrate seamlessly with cruise control systems and emergency brake assist features. Despite challenges such as supply disruptions and regulatory uncertainties, the Market shows steady growth potential, supported by favorable government policies and regulatory support for the penetration of safety systems in vehicles. The market is also influenced by public perception and qualitative analysis. It experiences rapid development with remote sensors and faces challenges like suspension of vehicle production. Integration with Ultrasonic sensors and system integrators is key.
Automotive Stereo Camera Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.75% |
Market growth 2023-2027 |
USD 534.29 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.25 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and the UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Autoliv Inc., Continental AG, DENSO Corp., Fluke Corp., Gentex Corp., HELLA GmbH and Co. KGaA, Hitachi Ltd., Hyundai Motor Group, Intel Corp., LG Electronics Inc., Magna International Inc., Mobileye Technologies Ltd., NVIDIA Corp., Panasonic Holdings Corp., Ricoh Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Teledyne Technologies Inc., Veoneer Inc., and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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