North America automotive camera market to grow at around 24% CAGR between 2019-2025. For instance, in 2018, the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) announced that all new vehicles manufactured in the U.S. after May 2018 should be sold with rear-view cameras to offer increased driver visibility.
High demand for luxury vehicles in the U.S. and Canada will expand North America automotive camera market size. Increase in number of road accidents in the U.S. will boost integration of ADAS & other safety systems in upcoming vehicles. Moreover, growing demand for rear-view vehicle cameras will provide lucrative growth prospects to market players.
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Increased focus on passenger & vehicle safety will drive automotive camera industry size. Growing use of trifocal camera in mid-priced vehicles will augment market growth. Global Market Insights, Inc., estimates automotive camera market size to exceed USD 19 billion by 2025.
Growing concerns regarding passenger & vehicle safety will drive automotive camera market growth over the coming years. Technological advancement in advanced driver-assistance systems (ADAS) along with rise in demand for active vehicle safety features will support product penetration. Increasing number of road accidents coupled with stringent safety norms will encourage automakers to opt for advanced automotive cameras and sensors, augmenting global automotive camera industry size.
Trifocal camera systems offer a wide viewing angle and can effectively identify the accurate distance between a vehicle and nearby objects. These cameras can offer an improved depth perception & better distant-object detection compared to mono & stereo type cameras. Increasing shift towards semi-autonomous & autonomous vehicles is expected to boost product adoption. Moreover, rapid production and demand for mid-priced, economic vehicles will foster automotive camera industry size.
Browse key industry insights spread across 250 pages with 379 market data tables & 22 figures & charts from the report, “Automotive Camera Market ” in detail along with the table of contents:
Rising demand and sales of passenger vehicles along with rapid advancements in camera technology will boost automotive camera industry size. Nowadays passenger vehicles are integrated with precision cameras to offer advanced safety features like autonomous braking, blind spot detection and lane departure warning. Cameras are also integrated inside a vehicle to attain real-time evidence in case of an accident. Rapid technological advancements in the automotive sector coupled with increased spending on passenger vehicles will supplement industry size.
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