March 16, 2020
As per the report titled ‘North America 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 on Market Study Report LLC, North America automotive camera market is projected to cross USD 5 billion by the year 2025.
Increasing adoption of advanced vehicle safety, driver assistance, and parking assist systems in new automobiles is fueling the demand for automotive cameras in North America. Additionally, inflowing investments by major automotive manufacturers towards the development of driverless technology and safety features in passenger & commercial vehicles will boost the market growth in the coming years.
According to the study, the demand for ADAS in passenger and commercial vehicles has witnessed a considerable rise on account of increased passenger comfort and safety initiatives. Increasing integration of automotive cameras in various systems such as collision avoidance system, adaptive cruise control, and driver monitoring system to provide advanced assistance and ensure passenger safety will expand the business landscape throughout the analysis period.
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Based on the vehicle type, autonomous vehicle segment is expected to grow considerably during the forecast period. Integration of these camera units into autonomous passenger vehicles will result in reduced road fatalities, thereby augmenting the market growth. Furthermore, the vision systems of these products comprise of mono, stereo, and trifocal systems which deliver enhanced visibility to the vehicles’ ADAS to further improve efficiency and safety.
Major players of North America automotive camera market are Continental AG, Aptiv PLC, Clarion, DENSO Corporation, Mobileye, Magna International, and OmniVision Technologies Inc. These behemoths are adopting numerous strategies such as product differentiation, acquisitions, mergers, collaborations, and new product developments to meet growing demand from OEMs and improve their market standing.
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