Automotive camera market growth is driven by rising production of passenger & commercial vehicles in the European countries. According to the European Automotive Manufacturers Association, the passenger cars produced in Europe accounted for nearly 24% of global passenger car production in 2018. Moreover, several regulations & safety standards for car manufacturers in the European Union for reducing the number of road fatalities will provide lucrative opportunities for players operating in the automotive camera market.
The increasing number of road fatalities is compelling the demand for advanced safety features in vehicles, further increasing the automotive camera market demand. These cameras are used in vehicles for various applications including lane departure warning, park assist, surround view, and traffic sign recognition. Additionally, these sensors are used in driver monitoring systems to detect the drowsy behavior of drivers, preventing accidents. The vehicle vision system keeps track of various facial expressions of drivers and transmits a warning sound if it detects drowsy behavior.
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Regarded as a business vertical that has remained quite unnoticed and away from the mainstream popularity, automotive camera market has been gradually making its presence felt in the humongous global transportation industry. The roll-out of the auto sector’s first thermal camera-equipped commercial test vehicle by FLIR Systems, Inc., proves that automotive camera industry is evolving to cater the auto enthusiasts and professionals in this age of self-driving cars and is further expanding its sphere of influence across various business verticals.
The significance of this decision can be gauged from the fact that around 210 fatalities and 15,000 injuries are caused by a vehicle crashing into the other due to lack of visibility. Among these fatalities, adults aged 70 and more account for over 26 percent and children under five account for 31 percent. In this regard, reducing the risk of such accidents has long been recognized and the efficacy of rear-view cameras comes handy in ensuring the same. Numerous automakers have already made such technology standard equipment on many car models, essentially expanding the automotive camera market size.
The prominent players operating in the automotive camera market are Continental AG, Magna International Inc., Robert Bosch GmbH, Intel Corporation, Aptiv PLC., Valeo, Automation Engineering Inc., and STONKAM CO., LTD., etc. These companies are offering advanced camera systems with wide-angle view, high-resolution sensors, and night vision. These developments by the manufacturers are specifically developed for the ADAS applications.
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Glimpse of Table of Content (ToC):-
Chapter 5. Automotive Camera Industry, By Vehicle Type (Revenue & Shipment)
5.1. Key trends by vehicle type
5.2. Passenger Cars
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Utility Vehicles
5.3.1. Market estimates and forecast, 2015 – 2025
5.4. Commercial Vehicles
5.4.1. Market estimates and forecast, 2015 – 2025
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