Automotive Camera Market Size in North America is set to grow by USD 3.93 billion from 2024-2028, Priority of automotive safety among customers boost the market, Technavio

NEW YORK, June 14, 2024 /PRNewswire/ -- The automotive camera market size in North America is estimated to grow by USD 3.93 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 17.64% during the forecast period. Priority of automotive safety among customers is driving market growth, with a trend towards increased use of wide-angle camera technology. However, high replacement costs associated with camera modules poses a challenge. Key market players include Autoliv Inc., BorgWarner Inc., Continental AG, DENSO Corp., Fluke Corp., Garmin Ltd., Gentex Corp., HELLA GmbH and Co. KGaA, Hitachi Ltd., Intel Corp., LG Electronics Inc., Magna International Inc., NVIDIA Corp., Panasonic Holdings Corp., Ricoh Co. Ltd., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Teledyne Technologies Inc., Valeo SA, and ZF Friedrichshafen AG.

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Market Driver

In the North American automotive market, wide-angle cameras are increasingly utilized for advanced driver assistance systems (ADAS) and 360-degree surround-view monitoring. These cameras expand the field of view, enhancing safety features like lane-keeping assistance, blind-spot detection, and parking assistance. The demand for 360-degree surround-view systems is rising, especially for electric and autonomous vehicles, where they support safety and perception systems, including forward collision warning and object detection. The integration of wide-angle cameras into ADAS aids in early hazard detection, improving system response. Overall, the adoption of wide-angle cameras is driving advancements in safety and driver assistance technologies in North America. 

The automotive camera market in North America is experiencing significant growth, driven by the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. Surround view systems, bird's eye view systems, and rearview cameras are common camera types used in vehicles. Companies are focusing on developing high-definition cameras for improved image quality and accuracy.

The use of infrared and night vision cameras is also increasing for better visibility in low-light conditions. Additionally, the integration of artificial intelligence and machine learning algorithms is enabling cameras to identify objects and provide real-time alerts to drivers. Overall, the automotive camera market in North America is expected to continue its upward trend in the coming years. 

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Market Challenges

• The automotive camera market in North America faces a challenge due to high replacement costs for camera modules. This issue deters automakers from integrating expensive camera systems into their vehicles, as customers may perceive the associated costs as prohibitive. These high replacement costs also impact consumer decisions and resale value, making cost-effective solutions a priority for vendors like Teledyne Technologies Inc. to remain competitive.
• The Automotive Camera Market in North America faces several challenges. The use of various types of cameras such as developmental, functional, and advanced technology cameras is increasing. However, the cost of implementing these cameras and ensuring their compatibility with different vehicle models can be a significant challenge.
• Additionally, ensuring data security and privacy concerns related to the collection and use of data from these cameras is becoming increasingly important. The need for standardization and regulation in the use of these cameras is also a challenge. Furthermore, the rapid advancement of technology and the emergence of new players in the market can make it difficult for established players to keep up. The market for autonomous vehicles and connected cars is expected to grow, bringing new opportunities and challenges for players in the automotive camera market.

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Segment Overview 

1. Technology 
• 1.1 Digital
• 1.2 Infrared
• 1.3 Thermal
2. Type 
• 2.1 Front view camera
• 2.2 Rear view camera
• 2.3 Surround view camera
3. Geography 
• 3.1 North America

1.1 Digital- In North America, the automotive camera market is experiencing significant growth due to the integration of digital camera technology. This technology offers higher resolution and improved image quality, enabling features like surround-view systems and digital rearview mirrors. These innovations enhance situational awareness, provide wider fields of view, and support advanced functions like lane-keeping assistance and object detection. With the rise of connectivity and autonomous driving, demand for digital camera solutions is increasing. Machine learning and AI are also being incorporated to enhance capabilities, such as object recognition and traffic sign recognition.

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Research Analysis

The Automotive Camera Market in North America is experiencing significant growth due to the increasing demand for advanced safety features and convenient driving experiences in both passenger cars and commercial vehicles. Automotive cameras, including digital and Infrared models, are essential components of various safety systems such as traffic sign recognition, pedestrian detection, and park assist. These systems enhance vehicle safety by providing real-time images of the vehicle's surroundings, enabling the driver to make informed decisions and prevent accidents.

The market is driven by the increasing focus on vehicle maneuvers and imaging systems that cater to the needs of occupants and the environment. MarketsandMarkets analysis projects continued growth in this sector as automotive manufacturers prioritize safety features like seatbelts and pedestrian detection systems to meet consumer demands and regulatory requirements.

Market Research Overview

The Automotive Camera Market in North America is experiencing significant growth due to the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles. These technologies rely heavily on cameras for image recognition and object detection. The market is driven by factors such as stringent safety regulations, increasing consumer preference for safety features, and the ongoing trend towards connected and autonomous vehicles. The market is segmented based on the type of camera, application, and vehicle type.

The market for forward-facing cameras is expected to dominate due to their widespread use in ADAS and autonomous vehicles. The market for infrared cameras is also expected to grow at a rapid pace due to their use in night vision and thermal imaging applications. The market is highly competitive with numerous players offering innovative solutions to meet the evolving needs of the industry. The future of the market looks promising with the ongoing development of advanced technologies and the increasing adoption of cameras in vehicles.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Technology
• Digital
• Infrared
• Thermal
• Type
• Front View Camera
• Rear View Camera
• Surround View Camera
• Geography
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 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.

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SOURCE Technavio