The Global Automotive Camera market is projected to grow at an astronomical rate. The growth of the market is attributed to rising vehicle fleet size, surging government initiative to boost the sales of electric vehicles to reduce CO2 emission along with a burgeoning number of road fatalities, and strict government regulation toward road safety. Apart from this, escalating demand for passenger vehicles, propelling awareness among customers regarding safety, and snowballing adoption of sensing cameras are some of the factors placing a positive impact towards the growth of the market over the forecast period. However, surging rise of vehicle and high cost of initial installation of automotive cameras are anticipated to restraint the growth of the market.
According to MarkNtel Advisors’ research report “Global Automotive Cameras Market Analysis, 2020”, the Global Automotive Cameras market is anticipated to grow at a CAGR of around 15% during 2021-26. Based on Technology, Park Assist System segment is expected to grow at a highest CAGR by 2026 as it is among used in almost all vehicle. Moreover, and burgeoning penetration of camera-based features, increasing application of digital rearview camera in vehicle and imposition of mandatory regulation by the government because of its safety benefits are anticipated to fuel the growth of the segment in the coming years.
“Global Automotive Cameras Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Automotive Cameras providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired the Majority Market Share
North America acquired the majority market share in the Global Automotive Cameras market in 2020. US acquired the majority market share in the North America market. This is due to burgeoning demand for luxury vehicles, surging installation of advanced driver-assistance systems (ADAS) coupled with booming urbanization and strong presence of a large number of automobile manufacturers. Besides this, Asia-Pacific is anticipated to grow at a robust rate owing to the factor such as growing disposable income of the middle-class population, increase demand for automobiles and robust industrialization. Hence, this is expected to promulgate the growth of the Automotive Cameras Market in the forthcoming period as stated in MarkNtel Advisors’ research report “Global Automotive Cameras Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Global Automotive Cameras market are Robert Bosch GmbH, Continental AG, Aptiv PLC, Valeo Inc., Autoliv, Inc., Automation Engineering Inc., Magna International Inc., Mobileye N.V., Omnivision Technologies Inc., Stonkam Co., Ltd., Gentex Corporation, Ficosa International S.A., DENSO Corporation, Integrated Micro-electronics, Inc. etc.
Key questions answered in the study: