Automotive Camera Module Market Set for Robust Growth, to Hit USD 8,498.90 Million by 2030
Automotive Camera Module Market is set to achieve a robust compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. This growth is primarily attributed to the surging demand for luxury vehicles and the continuous advancements in technology within the automotive industry, Major Participants Includes are Continental AG, Delphi Automotive PLC, Garmin Ltd., Ficosa Internacional SA, Hyundai Mobis Co., Ltd., Intel Corporation, IRay Technology Co., Ltd., Jabil Optics, Magna International Inc., Mobileye, Nippon Chemi-Con Corporation, Robert Bosch GMBH, STMicroelectronics, STONKAM CO., LTD., Valeo, Veoneer HoldCo, LLC., ZF Friedrichshafen AG, Zhejiang Dali Technology Co., Ltd.
New York, June 20, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Automotive Camera Module Market” published by Consegic Business Intelligence, the market was worth USD 3,076.44 Million in 2022 and is anticipated to reach over USD 8,498.90 Million by the year 2030, growing at a CAGR of 13.8%.
Automotive camera module is an automotive component used to monitor vehicles and provide improved safety. The automotive camera module is used for collision detection, blind spot detection, emergency barking, and others. Additionally, advanced camera modules have intelligent assistance systems to provide advanced safety solutions.
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Automotive camera modules provide visual surveillance and advance assistance system for ADAS, parking assistance, and other applications. Additionally, growing demand for luxury vehicles and advanced safety systems are propelling the growth of automotive camera module market. Moreover, the increasing technological advancements in camera modules are driving the growth of automotive camera module market. For instance, STMicroelectronics in collaboration with AdaSky offer high resolution thermal camera with FD-SOI technology and computer-vision algorithms, enabling the vehicles to sense and analyze the surroundings.
Therefore, increasing technological advancements in automotive industry are propelling the growth of automotive camera module market. The rising demand for luxury vehicles and advanced safety systems are promoting the growth of automotive camera module market.
|Report Attributes||Report Details|
|Market Size By 2030||USD 8,498.90 Million|
|Key Players||Continental AG, Delphi Automotive PLC, Garmin Ltd., Ficosa Internacional SA, Hyundai Mobis Co., Ltd., Intel Corporation, IRay Technology Co., Ltd., Jabil Optics, Magna International Inc., Mobileye, Nippon Chemi-Con Corporation, Robert Bosch GMBH, STMicroelectronics, STONKAM CO., LTD., Valeo, Veoneer HoldCo, LLC., ZF Friedrichshafen AG, Zhejiang Dali Technology Co., Ltd.|
|By Type||Single View Camera and Multi View Camera|
|By Module Type||Thermal, Infrared, and Digital|
|By Vehicle Type||Passenger Cars, Commercial Vehicles, and Electric Vehicles|
|By Distribution Channel||OEM, and Aftermarket|
|By Application||ADAS, Parking Assistance, Blind Spot Detection, Emergency Braking, Lane Departure Warning, and Others|
|Report Coverage||Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more|
|By Region||North America, Europe, Asia-Pacific, Latin America, Middle East & Africa|
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Automotive Camera Module Market Growth Drivers:
- Increasing technological developments for improvement of vehicle safety systems are driving the growth of automotive camera module market.
- Increasing adoption of luxury cars is propelling the market growth.
- The fluctuating raw material prices are restraining market growth.
- Increasing adoption of electric vehicles and introduction of advanced technologies in automotive industry
Global Automotive Camera Module Market Segmentation Details:
Based on Type, the single view camera segment is expected to grow with the fastest CAGR during the forecast period. The increasing installations of single view cameras for passenger cars, commercial vehicles, and electric vehicles for collision detection, blind spot detection, emergency braking system, and others are driving the growth of single view camera segment in automotive camera module market.
Based on Module Type, the infrared segment is projected to grow with the fastest CAGR during the forecast period. The infrared camera module has the benefit of early obstacle detection in complete darkness resulting to drive the demand of infrared camera module in automotive camera module market. Additionally, increasing demand for advanced technologies is propelling the growth of the infrared segment in automotive camera module market.
Based on Vehicle Type, the passenger cars contributed the largest shares to the market growth in 2022. The increasing demand for luxury vehicles with improved safety systems is promoting the growth of the passenger cars segment in automotive camera module market. Additionally, increasing manufacturing of passenger vehicles due to rising government policies and incentives, is propelling the growth of passenger cars segment in automotive camera module market.
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Based on Distribution Channel, the aftermarket segment contributed the largest shares to the market growth in 2022. Aftermarket offers wide range of products, resulting to drive the growth of aftermarket segment in automotive camera module market. Additionally, aftermarket provides cost effective products, leading to propel the growth of aftermarket segment in automotive camera module market.
Based on Application, the ADAS segment is expected to grow with the fastest CAGR during the forecast period. The camera modules are widely used for Advanced Driver Assistance Systems (ADAS) resulting to drive the growth of ADAS segment in automotive camera module market. Additionally, the increasing demand for technologically advanced automotive safety systems is driving the growth of ADAS segment in automotive camera module market.
Based on region, The North America region has been a major contributor to the growth of automotive camera module market. The increasing technological advancements including self-driving vehicles, parking assistance, early collision detection, and others are driving the growth of the automotive camera module market in the region. Moreover, increasing adoption of electric vehicles is boosting the demand for automotive camera modules.
- In June 2021, Nippon Chemi-Con Corporation launched camera module for automotive electronics. The NCM12-FE camera module is a waterproof and compact sized module with image processing engine and CMOS image sensor, suitable for exterior installation of vehicles.
Key Market Highlights
- Globally, automotive camera module is divided based on the type into single view camera and multi view camera.
- In the context of module type, the market is separated into thermal, infrared, and digital.
- Globally, automotive camera module is classified based on the vehicle type into passenger cars, commercial vehicles, and electric vehicles.
- In the context of distribution channel, the market is segmented into OEM and aftermarket.
- globally, automotive camera module is divided based on the application into ADAS, parking assistance, blind spot detection, emergency braking, lane departure warning, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in the automotive camera module market.
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List of Major Global Automotive Camera Module Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Continental AG
- Delphi Automotive PLC
- Garmin Ltd.
- Ficosa Internacional SA
- Hyundai Mobis Co., Ltd.
- Intel Corporation
- IRay Technology Co., Ltd.
- Jabil Optics
- Magna International Inc.
- Nippon Chemi-Con Corporation
- Robert Bosch GMBH
- STONKAM CO., LTD.
- Veoneer HoldCo, LLC.
- ZF Friedrichshafen AG
- Zhejiang Dali Technology Co., Ltd.
Global Automotive Camera Module Market Segmentation:
- By Product type
- Single View Camera
- Multi View Camera
- By Module Type
- By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
- By Distribution Channel
- By Application
- Parking Assistance
- Blind Spot Detection
- Emergency Braking
- Lane Departure Warning
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Key Questions Covered in the Automotive Camera Module Market Report
- What is an Automotive Camera Module?
– Automotive camera module is a vehicle component used to provide advanced safety system. The automotive camera module is used for collision detection, early warning, blind spot detection, and others.
- What will be the potential market valuation for the Automotive Camera Module market industry by 2030?
– The market for global automotive camera module market is expected to reach USD 8,498.90 Million in 2030 growing at a CAGR of 13.8% due to the growing technological developments and increasing demand for luxury vehicles.
- What specific segmentation details are covered in the Automotive Camera Module market report, and how is the fastest segment anticipated to impact the market growth?
– The report consists of type, module type, vehicle type, distribution channel, application, and sales channel. Each segment is projected to have the fastest-growing sub-segment, being fueled by industry trends and drivers. For instance, by application segment has witnessed ADAS as the fastest-growing segment due to increasing demand of advanced safety systems in vehicles.
- Which region is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
– The Asia-Pacific region is expected to witness fastest-CAGR growth during the forecast period due to the increasing technological developments in automotive industry.
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