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The North America Automotive Camera Market size is forecast to increase by USD 3.94 billion, at a CAGR of 17.64% between 2023 and 2028. In North America, the automotive camera market is experiencing significant growth due to several key factors. Prioritizing automotive safety among consumers, coupled with a high incidence of road accidents and road rage, creates a substantial demand for camera modules. Advanced Driver Assistance Systems (ADAS), which include backup cameras, lane departure warnings, and blind spot detection, are driving market expansion. These systems rely heavily on camera modules to provide real-time data, enhancing safety and convenience for drivers. The market's growth is further fueled by increasing government regulations mandating the use of advanced safety features and the continuous advancement of technology in the automotive industry. The report provides market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
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The market experiences a surge in demand driven by stringent NCAP regulations and advancements in ADAS technology. Major automotive manufacturers like Honda, Cadillac, Nissan, and Audi integrate cutting-edge features such as LiDAR, 5G, and Tesla autopilot to enhance vehicle safety. These systems, including AEB, Intelligent Speed Assistance, and Reversing Detection System, utilize LDW systems and real-time imaging to assist in vehicle maneuvers and prevent accidents. With the growing emphasis on safety standards by organizations like the World Health Organization, the market witnesses a rise in adoption of advanced GDP-enabled cameras, providing clear and accurate real-time images for improved vehicle safety and compliance with regulatory standards. Passenger cars equipped with advanced safety features such as lane keep assist, road sign assistance, and a combination of monocular, digital, thermal, infrared, and automotive stereo cameras provide enhanced visibility and assistance for drivers on the road. Our researchers analyzed the data with 2023 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.
Priority of automotive safety among customers is the key factor driving the market. The market has experienced growth, driven by consumer demand for enhanced safety features and regulatory initiatives promoting the integration of advanced driver assistance systems (ADAS) in vehicles. Consumers in North America are increasingly aware of the importance of safety features in vehicles. Information about crash test ratings, safety technologies, and advancements in ADAS has become more accessible, influencing purchasing decisions.
Moreover, regulatory bodies in North America, such as the National Highway Traffic Safety Administration (NHTSA), have implemented safety standards and initiatives that encourage the adoption of advanced safety technologies. Compliance with these standards has become a priority for market players such as Robert Bosch GmbH. Furthermore, insurance companies such as McKinsey and Company are investing in automotive cameras to increase the interest in automotive safety among customers, which is likely to drive market expansion during the forecast period.
Increased use of wide-angle camera technology is the primary trend in the market. Wide-angle cameras are extensively used in the automotive sector for advanced driver assistance systems (ADAS) and surround-view monitoring. Wide-angle cameras are integral to the development of 360-degree surround-view camera systems. The US, Canadian, and Mexican markets have seen a growing demand for 360-degree surround-view camera systems, which use wide-angle cameras to create a comprehensive view around the vehicle.
Furthermore, the adoption of automotive image sensors, including wide-angle cameras, is particularly prominent in electric and autonomous vehicles in North America. These sensors play a crucial role in the safety and perception systems of such vehicles, supporting navigation, object detection, and overall vehicle awareness. As the adoption of wide-angle cameras contributes to advancements in safety, driver assistance systems, and overall vehicle perception, automotive image sensors are expected to significantly contribute to the growth of the market in focus during the forecast period.
High replacement costs associated with modules is a major challenge that affects market growth. High replacement costs are a barrier to the market players in the US, Canada, and Mexico. Automakers are hesitant to integrate expensive camera modules into their vehicles if the associated replacement costs are perceived as prohibitive for customers. For end-users, the high replacement costs of camera modules contribute to the overall total cost of ownership for a vehicle.
Furthermore, prospective buyers are circumspect of potential replacement expenses, impacting the resale market for such vehicles. Market players such as Teledyne Technologies Inc. are facing high replacement costs that are expected to incentivize research and development efforts to focus on developing more cost-effective solutions without compromising performance. Thus, high replacement costs associated with camera modules pose a challenge for the market during the forecast period.
The market forecasting 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 market growth analysis strategies.
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 in the market.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market 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 digital segment is estimated to witness significant growth during the forecast period. Digital camera technology allows for higher resolution and improved image quality compared to traditional analog cameras. Maret players such as DENSO Corp. and Continental AG are incorporating higher megapixel sensors and advanced image processing capabilities to enhance the accuracy and clarity of visual information captured by automotive cameras. Digital camera technology is integral to surround-view systems, providing a 360-degree view of the vehicle.
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The digital segment was the largest segment and was valued at USD 926.49 million in 2018. Furthermore, the adoption of digital rearview mirrors, which replace traditional mirrors with camera-based displays, is gaining traction. Digital camera technology is crucial for connected and autonomous vehicles, supporting functions like lane-keeping assistance, object detection, and pedestrian recognition. Further, the incorporation of machine learning and artificial intelligence (AI) in digital camera systems enables more advanced functionalities, such as object recognition, traffic sign recognition, and intelligent decision-making. Thus, such factors further propelled the market expansion during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market in North America experiences significant growth propelled by the increasing adoption of electric vehicles and the integration of advanced multi-camera systems by OEMs. These systems, enabled by GDP and sophisticated imaging technology, form the backbone of ADAS systems, ensuring compliance with stringent safety regulations. From entry-level vehicles to luxury cars, features like lane departure warning, blind spot detection, and Adaptive Cruise Control (ACC) enhance driver safety and reduce the risk of traffic accidents. Despite challenges such as supply chain disruptions and semiconductor shortages, governments worldwide incentivize the inclusion of safety features like rear-view cameras, driver monitoring systems, and 360-degree cameras to promote road safety.
As self-driving cars become more prevalent, the demand for intelligent headlight control and advanced camera technology continues to grow across passenger and commercial vehicles. The automotive industry integrates an advanced imaging system as part of its ADAS system to enhance safety features in response to consumer disposable income fluctuations, commodity prices changes, and increasing demand for driver monitoring system, park assist system, and lane departure warning system, utilizing automotive dashboard cameras, stereo cameras, monocular cameras, digital cameras, thermal cameras, and infrared cameras.
Market Scope |
|
Report Coverage |
Details |
Page number |
159 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 17.64% |
Market Growth 2024-2028 |
USD 3.93 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.98 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Autoliv Inc., BorgWarner Inc., Continental AG, DENSO Corp., Fluke Corp., Garmin Ltd., Gentex Corp., HELLA GmbH and Co. KGaA, Hitachi Ltd., Intel Corp., LG Electronics Inc., Magna International Inc., NVIDIA Corp., Panasonic Holdings Corp., Ricoh Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Teledyne Technologies Inc., Valeo SA, and ZF Friedrichshafen AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, 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. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Technology
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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