Automotive Camera & Camera Module Market Statistics 2030
Automotive Camera and Camera Module Market and camera module market was worth $7,048.1 million by 2020. The market is expected to grow to $16,223.8 million by 2028, growing at a rate of 11.9 percent.
Automotive cameras and camera modules can enhance a vehicle’s driving experience by offering better visibility. These cameras are mainly employed to aid drivers with parking, evaluate the vehicle’s performance and night vision, and gather vital information about cars. Furthermore, advanced computers have algorithms for computer vision integrated into these cameras that extract valuable information from the images captured to help the driver in achieving a range of purposes, including parking space, driving through dark conditions, etc. they also play an essential role in advanced driver assistance technology (ADAS).
The automotive camera and camera modules market is anticipated to expand over the forecast time frame due to increased innovation, lower prices for cameras, and the growth of autonomous technology. Auto cameras are now accessible due to the widespread use and integration of modern technologies into various industries, and the impact of technology on customers’ daily lives is expanding. For example, The 2020 Honda Fit is priced at $17,120 and was launched in December 2020. The vehicle was equipped with a rearview camera, which provides images at the back of the car on a screen located on the center console. There has been an increase in demand for automobile cameras since they are inexpensive for the average user.
The automotive camera and camera module market can be classified into type, application technology, type of vehicle distribution channel, and region. Based on type, the market is segmented into single and multi-view. Based on the application, it is divided by park aid and ADAS. Technology-wise, it is divided into thermal, digital, and infrared. Based on the type of vehicle, it is broken down into commercial, passenger, and electric cars. The market is split through distribution channels into OEM and aftermarket. The market is studied in North America, Europe, Asia-Pacific, and LAMEA.
Infographic for Automotive Camera & Camera Module Market
Some key players operating in the automobile camera and camera module market are Aptiva PLC, Veoneer Inc., Continental AG, DENSO Corporation, Ficosa International SA, Magna International Inc., Intel Corporation, and Robert Bosch GmbH, ZF Friedrichshafen AG, Hyundai Mobis Co. Limited. along with Valeo.
The demand for autonomous vehicle
Autonomous driving technology is used to automate, adjust and improve the technology of vehicles. With the ability to detect the surroundings around it, an autonomous car or self-driving vehicle can be driven and carry out the necessary tasks by analyzing the outside and inside environment using sensors, cameras, and radars, as well as other tools that do not require human interaction. Major car manufacturers are incorporating technological advancements in automotive technology like Advanced Driver Assistance System (ADAS) level 1, ADAS level 2, and ADAS level 3 in their automobiles. In June 2021, Ambarella, Inc. declared that Arrival has chosen to use the Ambarella CV2FS CVflow AI-based vision processor for its ambient perception system that will be available on all models of Arrival vehicles. In addition, the Arrival buses and vans will incorporate the feature to allow autonomy in driving (AD) and ADAS features. The auto industry has seen an increase in purchasing vehicles with ADAS technologies due to the excellent quality and convenience offered by the latest cars. Additionally, the latest technologies like 5G technology along with long- and medium-range radar systems and vision and many other technologies are anticipated to allow cars to communicate with each other but also with traffic signals, signs, and even the roadways themselves, resulting in fewer emissions, congestion and road expenses in addition to enhanced fuel efficiency.
For example, HERE Technologies, Porsche, and Vodafone Germany have revealed that they are developing a live warning system that integrates 5G technology with high-precision locations to improve safety in traffic and make it less likely to cause traffic-related accidents. The system transmits safety alerts to vehicles and their occupants at a real-time rate, allowing them to react rapidly. Furthermore, car manufacturers are working on developing advanced autonomous automobile techniques using advanced camera systems that ensure the security of the vehicle and its passengers. For example, Tesla has revealed plans to create a camera-only self-driving system without needing Lidar as an element of their Dojo project.
The rising demand for autonomous technology in the automotive industry drives the development of the auto camera and camera module market over the forecast period.
The demand for safety applications from automotive customers
The auto industry has seen an increased demand for safety features, such as warning systems for lane departures and collision warning systems. Active cruise control systems for emergency brake systems and headlight control systems for recognizing traffic signs and other safety features. The increasing demands for safety systems from customers of the automotive industry have led to the development of modern automobile cameras and camera modules. Camera makers are working hard to develop advanced automotive camera technology to increase the capacity of the vehicle to collect vital vehicle-related information and improve the car’s driving capabilities. For instance, the brand new Mercedes-Maybach S-Class launched in 2021 features a camera mounted on the roof which transmits real-time video to the central display panel that assists the user in using the car’s navigation system using satellites.
Additionally, automakers collaborate with camera manufacturers to develop technology to enhance safety capabilities. For example, June 2021 is when Volvo Trucks North America revealed the launch of the new generation 5 of Bendix Commercial Vehicle Systems SafetyDirect Processors for Volvo VNL, VNR, and VHD vehicles. The processor features an infrared camera for the driver that has technology that allows for better visibility in low-light conditions, which ensures the safety of the vehicle’s operation. Customers of automobiles have increased the use of cameras from aftermarket stores to assist drivers safely taking over, shifting lanes, and allowing general vehicle operation, increasing the need for cameras in automobiles and camera modules around the globe. Electronics firms have intensified their efforts in producing automotive cameras due to the growing demand for aftermarket vehicle cameras. For example, the month of June 2021 is when Garmin announced the 2021 dashcam series that includes voice control, automatic video storage, and live view monitors. Drivers can utilize cameras to record every incident in their vehicle’s vicinity.
The capacity of automobile cameras to increase the vehicle’s security is essential in developing the automotive camera and camera module market over the forecast period.
The fluctuating prices of the raw materials used in making the automotive camera
Glass, Fluoride compounds, quartz glass, fluorite plastics, germanium, acrylic, and meteoritic glass are commonly used as raw materials for automotive cameras. These raw materials’ costs fluctuate due to many global factors, such as an increase in worldwide transport and logistics expenses, the availability of raw materials, and other elements. For instance, in May 2021, more than 50 glass manufacturers in China announced price increases that included float glass, Low-E Coated Glass, and Mirrors Low-iron glass, among others. The cost of glass work of clear floating glass was at $405/Metric ton in May 2021. This is about twice that in May 2020. In January 2021. Glass is an essential element in the production of cameras for cars; price fluctuations can affect a camera maker’s output.
The lens system and the image sensor are the two most essential components of regular camera operation in most auto cameras. The advent of infrared and thermal cameras and other technological advancements has increased the demand for electronic and electrical chips that process information from sensors. There has been a fluctuation in the cost of electronic chips’ raw materials due to trade wars and the introduction of tariffs, customs duties, and other restrictions on importing raw materials like silicon, semiconductors, and other natural materials across the globe. In October, for instance. 2018, more than 800 types of Chinese imports will be subject to 25 percent tariffs, per authorities from the U.S. administration. The taxes will apply to nearly every component used in electronic equipment manufacturing, including capacitors, resistors, microcontrollers, and semiconductors. They also cover all the materials used to produce printed circuit boards. The slight price fluctuations of raw materials could affect the price of cameras since they are manufactured in large numbers. The fluctuating cost of the materials used to manufacture automobile cameras will slow the growth of the worldwide market for automotive and module cameras in the forecast time.
Cameras are used as an alternative system for surrounding views.
Automotive cameras offer enhanced monitoring of the surrounding environment, allowing drivers to operate their vehicles more efficiently. The cameras provide a greater field of view, assisting the driver in completing various tasks, such as observing blind spots, switching lanes on the highway, and parallel parking without grinding the wheels. Modern camera technology, such as 360-degree video systems, and stereo vision technology, are utilized by auto manufacturers to give users an extensive view of their surroundings, allowing an improved outlook and better maneuverability. For instance, the Mustang Mach-E launched by Ford includes a 360-degree camera that provides a full view of the vehicle’s driver. Advanced environmental monitoring capabilities are incorporated into luxury cars or high-end versions of vehicles.
The non-premium or low-end segment of vehicles provides a possibility to grow cameras-based monitoring systems. The development of sophisticated car camera monitors resulted in the advancement of automobile camera technology. They can be put in cars to replace conventional mirrors positioned on the side. Numerous car manufacturers, such as Aston Martin and KTM, are working on mirror replacement systems that include a camera, the controller, and an LCD. Implementing an electronic rearview mirror is being endorsed by European governments and other developed nations, which has facilitated the development of a digital rearview monitor system.
Additionally, in comparison to radar and LiDAR, automobile cameras offer superior perception at a lower price. The cameras in automotive can also be used for range measurement with great accuracy, which is why they are a popular choice in ADAS for monitoring the car’s surroundings. Cameras as an alternative to a monitoring system inside a vehicle are an excellent opportunity to develop the automobile camera market and the camera module.
COVID-19 Impact Analysis
- The impact of COVID on the automotive camera and camera market is uncertain and is predicted to continue to slow down until 2020’s second quarter.
- The COVID-19 outbreak prompted governments worldwide to enforce strict lockdowns and required social distancing to prevent the disease from spreading. As a result, many organizations have started work-from-home programs to protect themselves. This caused a drastic drop in the demand for cars all over the world.
- Furthermore, the nationwide lockdowns affected supply chains as several manufacturing plants across the globe were forced to either wholly or partially close their doors.
- The adverse effects of the COVID-19 pandemic led to massive demand-supply issues across the globe.
Key Benefits for Stakeholders
- This study provides the analytic representation of the automotive market for cameras and cameras together with current developments and estimates to illustrate future investments.
- The general automotive camera and camera market are determined by analyzing profitable trends to get a solid base.
- The report provides information on the main factors, drivers, and opportunities in the automobile camera and camera market. It also provides a detailed analysis of its impact.
- The present automotive camera and camera market is analyzed quantitatively between 2021 and 2028 to determine financial competency benchmarks.
- Porter’s Five Forces Analysis demonstrates the potential of buyers and suppliers in the business.
|Automotive Camera and Camera Module Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Key Market Segments
- Single View
- Park Assist
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
By Distribution Channel
- North America
- The U.S.
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Aptiva PLC
- Veoneer Inc.
- Continental AG
- DENSO Corporation
- Ficosa Internacional SA
- Magna International Inc.
- Intel Corporation
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Hyundai Mobis Co., Ltd.