LONDON, Feb. 2, 2016 /PRNewswire/ -- The China Automotive Camera market is expected to grow at a CAGR of 19.62% during the forecast period. China holds a significant share in the automotive camera market of the Asia-Pacific region. Factors such as increasing market penetration of premium cars and safety installations per vehicles are accelerating the demand of automotive night vision system and driver monitoring systems. The automotive industry in China would continue the rapid technology evolution over the next few years in the light of the market following the active safety trend evident in North America and Europe.
The passenger car active and passive safety systems market is in its growth stage driven by the market in China and India. China NCAP is on the verge to upgrade the five star requirements to feature in the active safety and collision prevention, beginning in 2018. This would also help to change the market dynamics of the automotive safety systems in the Chinese industry, where safety would be more critical issue that would be addressed in the forecast period. Thereby, increased focus on automotive safety would help to augment the market for automotive camera significantly during the forecast period.
Automotive camera are a part of the active safety systems which are typically defined as systems that contribute to the active avoidance of accidents. Increasing consumer concern over safety is a critical factor contributing to the growth of the active safety systems. But the installation costs for active safety systems are quite high deterring the adoption of safety systems to some extent. However OEMs have started to install more advanced active safety systems in an extensive range of passenger vehicle mid-price segments to differentiate their products in the highly competitive Chinese automotive market. In terms of growth as well, the Chinese automotive camera market is projected to grow at the highest rate from 2015 to 2020 in the region. The growth in the market is also characterised by the increase in the demand of passenger luxury vehicles in the country. The industry is characterised by significant machinery and equipment, which is used for researching, developing, manufacturing and testing new equipment.
Automotive Camera have evolved significantly to integrate with the other safety systems of the vehicles, and assist the driver in driving. For instance, the ZF TRW's lane departure warning system uses video camera technology, which are integrated with electrically powered steering to enable quick feedback for active lane keeping assistance. The video camera detects when the vehicle is drifting toward the lane markings and the electric steering provides the driver with guidance through the steering wheel to stay in the lane. The camera-based forward collision warning identifies the closest object in the vehicle's path and determines its scale change. The size and optical growth of the object indicate a potential collision, a warning is given to the driver.
The market has been segmented based on the vision technology type, by application type, and by vehicle type. The market for advanced driver assistance systems would lead the automotive camera market by application type in China. The automotive sensing camera are expected to specifically gain profit during the forecast period, in the automotive camera by vision technology. The automotive manufacturers in the region like Hyundai, Kia, Nissan aims to increase their revenue by strategically manufacturing advanced automotive camera technology like that of pedestrian detection, automatic high-beam control and speed limit sign recognition systems. Apart from these, the global players such as Robert Bosch, Autoliv Inc., Continental, and TRW Automotive have their significant presence in the China, which is also expected to influence the market demand for automotive driver monitoring system in general and automotive camera in general.
What the Report Offers
1) Market Definition along with identification of key drivers and restraints for the market.
2) Market analysis with country specific assessments and competition analysis in the China automotive camera market.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market in China.
4) Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares.
5) Identification and analysis of the Macro and Micro factors that affect the automotive industry at the country level.
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