March 13, 2020
The research report on ‘Asia Pacific Automotive Camera Market Size By Type, Application, Vehicle Type, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC projects the Asia-Pacific automotive camera market is expected to surpass USD 7 billion by the year 2025.
Increasing awareness pertaining to ADAS (Advanced Driver-Assist System) is a major factor driving the automotive camera market in Asia-Pacific. These components are used with ADAS in order to provide lane departure assist, forward collision warning and emergency braking systems. Moreover, technological developments in camera-based driver assist systems are further facilitating the expansion of Asia-Pacific automotive camera industry.
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Also, shifting preferences by automakers towards replacing side-view mirrors with camera systems in order to provide wider rear view to the drivers is stimulating the industry outlook. These sensors are extensively used in passenger vehicles to provide semi-automated driving solutions. Additionally, increasing sales of passenger vehicles in Thailand, India and China are fostering the demand for automotive camera systems in Asia-Pacific.
The report projects trifocal automotive cameras market to expand substantially during the estimated timeframe. This type of camera is used to provide a wider view and precise distance between vehicles and obstacles. Moreover, these systems also aid in detecting sudden appearance of objects or pedestrians which further helps reduce accidents. Growing demand for trifocal cameras owing to their enhanced depth perception and distant-object detection is fueling the segmental growth.
The prominent companies operating in the Asia-Pacific automotive care industry are Aptiv PLC, Continental AG, Veoneer, Robert Bosch GmbH, Clarion Co. Ltd., Denso Corp. and Hitachi Automotive Systems Ltd. The industry players are focusing on advanced product launches, strategic partnerships and M&As to gain a competitive edge in the overall market.
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