The global automotive camera market size is projected to grow from USD 8.3 Billion in 2024 to USD 16.0 Billion by 2030, at a CAGR of 11.5%. The automotive camera market is experiencing steady growth due to technological developments in camera technology and driver assistance demands from consumers. Additionally, the advancements in semi-autonomous and autonomous vehicles drive the demand for automotive cameras.
Based on EV Type: A plug-in hybrid electric vehicle (PHEV) is a hybrid vehicle equipped with rechargeable batteries that can connect to an external power source. It combines the characteristics of both electric and ICE vehicles, offering a greater electric range than standard hybrid electric vehicles. Unlike all-electric vehicles, PHEVs avoid range issues because their batteries do not deplete entirely, and they can travel longer distances due to the presence of an ICE. PHEVs come in two types: series and parallel. In series PHEVs, only the electric motor drives the wheels, with the ICE generating power for the electric motor. In parallel PHEVs, both the electric motor and the ICE are connected to the wheels.
Various automakers, including Toyota (Japan), Mitsubishi (Japan), and Volkswagen (Germany), offer PHEVs, which include ADAS features. The Mitsubishi Outlander PHEV (2024) includes ADAS features like pedestrian detection, adaptive front lighting, collision avoidance, adaptive cruise control, blind spot monitoring, cross-traffic alert, and lane departure warning. The Outlander PHEV uses a monocular camera from ZF Friedrichshafen AG (Germany). The increasing integration of ADAS features is expected to drive the demand for automotive cameras in the PHEV segment.
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Based on Level of Autonomy: In L2 & L3 autonomy, responsibility for driving is shared between the driver and the vehicle. The driver can temporarily release the steering wheel but must remain aware of the surroundings and be ready to take control promptly if alerted by the vehicle. ADAS features, including blind spot detection, forward collision warning, lane departure warning, driver monitoring systems, traffic sign recognition, and night vision systems, are incorporated. Cameras play a particularly crucial role in L2 and L3 vehicles, providing drivers with a comprehensive view of the road ahead. Collaborating with radar and LiDAR sensors, these cameras furnish the vehicle with a holistic understanding of its environment, facilitating more informed decision-making. Typically, these vehicles are equipped with an average of 6-10 camera units consisting of front and rear cameras along with 4 parking cameras, optional cameras, and optional radars.
Several companies, such as Mazda (Japan), Honda (Japan), Nissan (Japan), Toyota (Japan), Stellantis (Netherlands), Renault (France), BMW (Germany), Mercedes-Benz (Germany), and Ford (US), among others, have introduced models with L2 automation in recent years. For instance, Audi launched its new Q8 featuring L2 automation in 2023. Volvo unveiled its Polestar 3 EV with L3 automation in the same year.
By EV Application: Adaptive Cruise Control (ACC) combined with forward collision warning (FCW) is a highly effective safety feature that significantly enhances vehicle safety. This combination provides an additional layer of protection in emergency situations: if the ACC system fails to decelerate or stop the vehicle in time, FCW alerts the driver, giving them extra time to react and prevent a collision. Additionally, the integration of ACC and FCW can improve fuel efficiency by minimizing unnecessary acceleration and braking. However, the higher cost associated with these features means that only a few vehicles currently offer them together. Models such as the Mercedes-Benz GLC series, Mercedes-Benz EQS SUV, Volkswagen ID.5, NIO eT5, NIO eT7, BMW i7 xDrive 60, BMW iX1 xDrive30, and Mitsubishi eK X EV include ACC and FCW as standard features.
By Region: The automotive camera market in North America is rapidly expanding, driven by technological advancements and a high demand for vehicle safety features. Automotive cameras serve multiple purposes, including driver assistance, safety, and entertainment. This section will explore the current state of the automotive camera market in North America, which includes the US, Canada, and Mexico, focusing on its growth, key players, and prospects. The US is projected to be the largest market for automotive cameras in North America during the forecast period. A key reason for this is the high demand for advanced safety features and the strong presence of major automakers such as Ford (US), Tesla (US), and GM (US), which are using various camera-based semi-autonomous driving systems in their vehicles like Ford Blue Cruise, Tesla Autopilot and GM Super Cruise. A recent development illustrating this growth is GM’s announcement in March 2023 to include new long-range and 360-degree cameras in its Super Cruise system. A major factor propelling the automotive camera market in this region is the increasing demand for vehicle safety features. Cameras are extensively used for safety functions like backup assistance, lane departure warning, and pedestrian detection, as well as to improve driver visibility in adverse weather conditions such as rain and snow. The expected rise in autonomous vehicle adoption would necessitate a substantial number of cameras and sensors for safe operation.
Key Market Players:
The automotive camera market is dominated by global players such as Robert Bosch GmbH (Germany), Continental AG (Germany), Valeo (France), ZF Friedrichshafen AG (Germany), and Denso Corporation (Japan), and Ficosa International SA (Spain), among others. These companies adopted new product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
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