According to the research report titled ‘Global Automotive Camera & Camera Module Market Size study, by Component (Image Sensors, Lens Modules, Voice Coil Motors, Others) by Focus Type (Fixed-focus, Autofocus) by Application (Consumer Electronics, Automotive, Healthcare, Industrial, Security & Surveillance, Aerospace & Defense), and Regional Forecasts 2021-2027’, available with Market Study Report, global automotive camera & camera module market was assessed at USD 7.04 billion in 2020 and is anticipated to be worth USD 15.48 billion by 2027, growing at 11.9% CAGR throughout.
 

Rising utilization of multiple camera-based mobile phones, coupled with growing adoption of surveillance cameras owing to public safety & security concerns are key factors driving global automotive camera & camera module market outlook.
 

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For the unversed, automotive cameras & camera modules are primarily used to improve visibility and provide users with a better driving experience. These cameras aid drivers with evaluating vehicle performance, parking, gathering essential vehicle information, and night vision.
 

Citing an example, the 2020 Honda Fit, which was released in 2020 and priced at USD 17,120, was equipped with a rear view camera that displayed visuals from the rear of the car on a display located on the center of the vehicle.
 

Increasing popularity of autonomous vehicles will aid revenue generation in the business sphere. On the other hand, high cost of deployment of multi-camera systems in vehicles will act as a challenge for businesses in this market space.
 

Based on component, worldwide automotive camera & camera module industry is divided into image sensors, voice coil motors, lens modules, and others. Speaking of focus type, the business sphere is split into autofocus, and fixed-focus. Moving on to application scope, the market is bifurcated into consumer electronics, automotive, industrial, healthcare, aerospace & defense, and security & surveillance.
 

From the regional frame of reference, Asia Pacific held majority market share in the recent past, owing to presence of prominent smartphone and consumer device manufacturers in the region. Meanwhile, North America market is slated to expand rapidly between 2021-2027, due to rising use of autonomous and electric vehicles.
 

Leading players formulating the competitive landscape of worldwide automotive camera & camera module market are Hyundai Mobis Co. Ltd., Veoneer Inc., Aptiv PLC, Continental AG, Ficosa Internacional S.A., DENSO Corporation, Magna International Inc., Robert Bosch GmbH, Intel Corporation, and ZF Friedrichshafen AG.