Automotive Camera Market: North America Region is Expected to Record CAGR of 24% By 2025

North America automotive camera market size is expected to showcase a CAGR of 24% by 2025. The aforementioned information quite overtly indicates that North America is expected to be a major contender of the global automotive camera industry, pertaining to the rising number of vehicle crashes in the U.S. and Canada and the subsequent implementation of stringent norms to reduce road accidents. Driven by the rise in the demand for luxury vehicles and the upsurge in the deployment of ADAS & safety systems in cars.

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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.

Most vehicle safety features made mandatory by policymakers, such as airbags and seat-belts, ensure protection of those travelling in the vehicle. As a result of such policies, numerous verticals such as automotive airbags market, which is slated to surpass a remuneration scale of USD 85 billion by 2025, have been proliferating at an unprecedented pace.

2020 Hyundai Sonata was also unveiled at the auto show and showcased five cameras installed throughout the car. The cameras placed on the front, mounted on the mirrors and also at the rare work to provide an enhanced bird’s eye view of the vehicle’s exterior. Tesla cars are also equipped with internal and external cameras.

The new 2019 X5 SUV by BMW comes with an optional driver monitoring camera that is mounted in the Extended Traffic Jam Assistant system in the digital dashboard of the car and makes sure the driver is paying attention to the road. As such cameras will evidently increase driver safety and convenience in vehicles, the demand for cameras is anticipated to expand soon and buyers of all vehicle types would demand such features in the cars, creating immense growth scope for the automotive camera market.

The rearview video system or the backup camera has possibly witnessed the strongest advocacy from the NHTSA as it helps prevent crashes and protects vulnerable people such as children, as they are almost impossible to detect while reversing a large vehicle. The support for making backup cameras on vehicles mandatory has been so strong that in 2014 the NHTSA announced that all vehicles sold in the U.S. after May 2018 should compulsorily be equipped with rearview camera system. The Trump administration has even tried to repeal the law but consumer awareness for the need of backup camera has already been raised and even if new vehicles are not equipped with backup cameras, the aftermarket demand for such equipment is quite strong indicating robust prospects for the automotive camera market.

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Some Point from Table of Contents:

Chapter 4.   Automotive Camera Market, By Type (Revenue & Shipment)

4.1.  Key trends by type

4.2.  Mono

4.2.1. Market estimates and forecast, 2015 – 2025

4.3.  Stereo

4.3.1. Market estimates and forecast, 2015 – 2025

4.4.  Trifocal

4.4.1. Market estimates and forecast, 2015 – 2025

Chapter 5.   Automotive Camera Market, 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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