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Automotive Camera Market to grow by USD 4.1 billion from 2021 to 2026 | Priority to automotive safety among customers to boost the market growth- TechnavioNEW YORK, Sept. 7, 2023 /PRNewswire/ -- The automotive camera market size is expected to grow by USD 4.1 billion from 2021 to 2026, progressing at a CAGR of 9.91% as per the latest Technavio market research report. The report has been segmented by type (viewing and sensing camera and viewing only), vehicle (passenger vehicles and commercial vehicles), and geography (North America, Europe, APAC, Middle East and Africa, and South America). Priority to automotive safety among customers is notably driving the market growth. Road transportation stands as a prominent mode of transit across numerous nations. Over the past decade, the automotive industry has been diligently enhancing road safety through accident prevention and injury reduction measures. A substantial portion of accidents stem from human errors triggered by factors such as driver fatigue, distraction, and drowsiness, often exacerbated by lifestyle changes and extended driving durations leading to sleep disorders. Consequently, heightened emphasis on automobile safety is prompting end-users to incorporate advanced safety systems in their vehicles. Innovations within the realm of automotive camera manufacturing have enabled the provision of tailored products, encouraging individuals to integrate automotive cameras into their personal vehicles. This trend is anticipated to propel the growth of the global automotive camera market throughout the forecast period. Discover insights on market size before buying full report- Download sample report
Automotive Camera Market: Segment Overview This market research report segments the automotive camera market by type (viewing and sensing camera and viewing only), vehicle (passenger vehicles and commercial vehicles), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
Geography Overview: For now, get snapshot of comprehensive report Download Sample Recent trends influencing the market The increased use of wide-angle camera technology will influence the global automotive camera market growth. The escalation of road accidents and traffic congestion has been considerable in recent years, attributed to the surge in the count of passenger cars, trucks, and buses across all regions. The safety of both passenger vehicles and commercial ones has emerged as a pressing concern for both governments and automobile manufacturers. The application of wide-angle lenses in automotive camera modules has gained prominence due to their capacity for extensive field coverage and improved image quality. Automotive Original Equipment Manufacturers (OEMs) are exploring safety solutions that identify drivers' blind spots, leading them to employ wide-angle technology to expand the cameras' coverage field. Automotive OEMs and camera module manufacturers are proactively investing in enhancing the output of wide-angle cameras, a trend projected to drive the growth of the global automotive camera market throughout the forecast period. Major challenges hindering the market growth The high replacement costs associated with camera modules are the major challenge to the global automotive camera market growth. Automotive cameras serve a pivotal role in eliminating blind spots, making them a vital safety component in vehicles, and enhancing drivers' precision and overall driving experience. Initially, these camera systems were predominantly available as optional features in premium and luxury vehicle categories. Nevertheless, the landscape has evolved, with their incorporation extending to entry-level vehicles in developed nations, driven by regulatory mandates and convenience demands. Manufacturers are actively striving to reduce the manufacturing costs of automotive camera systems, enabling wider adoption in mid-trim and entry-level vehicle variants. Sophisticated camera systems encompass features like expansive screen displays, GPS navigation, multiple camera integration, superior image resolution, and night vision capability. This, however, leads to price-conscious consumers, particularly in developing nations, hesitating to integrate automotive cameras due to their elevated costs. This trend could potentially limit the growth of the market during the forecast period. What are the key data covered in the Automotive Camera Market reports:
Related Reports: The network camera market size is estimated to grow at a CAGR of 11.23% between 2022 and 2027. The market size is forecast to increase by USD 23.5 billion. The shortwave infrared (SWIR) camera market is estimated to grow at a CAGR of 9.38% between 2022 and 2027. The market size is forecasted to increase by USD 118.6 million.
Table of contents 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation by Application 7 Market Segmentation by Geography 8 Customer Landscape 9 Geographic Landscape 10 Drivers, Challenges, and Trends 11 Vendor Landscape 12 Vendor Analysis 13 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research
SOURCE Technavio 
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