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Automotive Camera Market Size Worth USD 8.5 Billion by 2026; Installation of Advanced Safety Features in Entry-level Vehicles to Aid Market Expansion: Fortune Business Insights™

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Pune, March 13, 2020 (GLOBE NEWSWIRE) — Automotive Camera Market Overview: The global automotive cameras market size is expected to touch USD 8.5 billion in 2026, exhibiting a CAGR of 12.1% during the forecast period. The primary growth driver for market is expected to be the persistent rise in the number of road accidents across the globe. The Global Status Report on Road Safety 2018 published by the World Health Organization (WHO) highlighted that road traffic fatalities reached 1.35 million in 2016. The report further states that road accidents have now become the eighth leading cause of death for all age groups, with children and young adults between the ages of 5 and 29 seeing the highest number of deaths. In light of these numbers, it is clear that integration of advanced safety features in passenger and commercial vehicles is a critical measure that governments and automobile manufacturers need to implement. Increasing focus on enhancing vehicular safety will be one of the leading automotive cameras market trends in the forthcoming years.As per the recent Fortune Business Insights™ report, titled “Global Automotive Camera Market Size, Share & Industry Analysis, By Technology Type (Stereo, Monocular), By Application Type (Park Assist System, Lane Departure Warning System, Blind Spot Detection, Lane Keep Assist, Road Sign Assistance, Adaptive Cruise Control (ACC), Intelligent Headlight Control, Others), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecasts, 2019-2026”, the market size stood at USD 3.5 billion in 2018. The report additionally contains:Segmentation of the market and microscopic study of each segment;Regional analysis involving evaluation of the developments and prospects in each region;Detailed research into the competitive landscape of the market; andThorough assessment of the various market drivers and restraints.
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List of Best Players Profiled in the Automotive Camera Market Research Report are:
Robert Bosch GmbhAutoliv, IncContinental AGZF Friedrichshafen AGDenso Corporation.RicohMagna International Inc.Garmin LtdValeoOmniVisionMobileyeKappa optronics GmbH
Market Trend
Stringent Implementation of Vehicle Safety Regulations to Boost the MarketGovernments around the world are taking cognizance of the increasing socio-economic burden of road accident deaths. Vehicular safety has now become top priority for major economies. According to the WHO, governments in 40 high-income countries representing a total of 1 billion people have implemented 7 or all 8 of the international safety standards chalked out by the United Nations.For instance, the National Highway Traffic Safety Administration (NHTSA) under the US Department of Transportation made the installation of rear-view cameras in all new LCVs, HCVs, and SUVs from May 2018. These regulations are now compelling automakers to place advanced safety features even in entry-level vehicles, which is fuelling the automotive cameras market growth. However, a large chunk of low- and middle-income countries are not adhering to the UN’s priority standards. Thus, vast growth opportunities for players in these countries.
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Regional Insights
Europe to Hold a Commanding Market Position; Asia-Pacific to Come in SecondAmong regions, Europe is expected to dominate the automotive cameras market share during the forecast period on account of the growing stringency with which governments are executing vehicle safety norms. The passing of the Pedestrians Safety Regulations and the General Safety Regulation in the region is expected to bode well for the market in the region.Asia-Pacific is poised to lead the market in terms of size as the market size in the region was at USD 1.4 billion in 2018. The primary factor driving the market in the region is the rising uptake of automotive parts made in Asian countries in North America and Europe. Apart from this, increasing demand and production of vehicles in India and China is expected to further expand the automotive cameras market size in the region. In North America, tightening road safety regulations will propel the market in the region.Competitive Landscape
Development of Innovative Solutions to Make Competition IntenseAccording to the automotive cameras market analysis, companies operating in this market are stopping at nothing to enhance their research capabilities and launch novel products. A diversified product portfolio would enable these players to expand their global presence and enter regional markets.
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsMergers, Acquisitions and PartnershipsDistributors AnalysisGrowth and Penetration AnalysisPorter’s Five Forces AnalysisPEST AnalysisVendor LandscapeGlobal Automotive Camera Market Analysis, Insights and Forecast, 2014-2025Key Findings / SummaryMarket Analysis, Insights and Forecast – By TechnologyStereoMonocularMarket Analysis, Insights and Forecast – By ApplicationPark Assist SystemLane Departure Warning SystemBlind Spot DetectionLane Keep AssistRoad Sign AssistanceAdaptive Cruise Control (ACC)Intelligent Headlight ControlOthersMarket Analysis, Insights and Forecast – By Vehicle TypePassenger CarsCommercial VehiclesMarket Analysis, Insights and Forecast – By CountryNorth AmericaEuropeAsia pacificRest of the WorldTOC Continued….!
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Industry Developments:January 2020: Bosch, the German engineering behemoth, developed and launched a smart interior monitoring system for cars. The most notable component in this system is the AI-powered smart camera which continuously monitors the driver’s motions and sends out instant alerts in case the driver is being inattentive or feeling sleepy while driving.March 2018: The Swedish automotive safety innovator Autoliv Inc., along with its partner Zenuity, was handpicked by Geely for its Level 3 project. It includes Advanced Driver Assistance Systems (ADAS), radar system, and mono and stereo vision camera units.
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Read Press Release on Automotive Cameras Market: https://www.fortunebusinessinsights.com/press-release/automotive-camera-market-9653

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