Automotive Camera Market to Reach $17.53 Billion by 2029, With a 12.2% CAGR
21 Jan, 2025
What's The Growth Story For Automotive Camera Market In Recent Years?
The Automotive Camera Market has been growing significantly over the recent years.
• In 2024, the market was valued at $9.9 billion, growing to $11.07 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%.
The growth in the historic period was mainly attributed to initiatives for enhancing vehicle safety, adoption of advanced driver assistance systems (ADAS), and integration of cameras in autonomous vehicles. Increasing regulatory requirements for rearview and surround-view cameras and the rising demand for parking assistance systems and collision avoidance systems also contributed to the expansion.
What Is The Expected Growth Of The Automotive Camera Market In The Forecast Period?
The automotive camera market is anticipated to continue to see a rapid growth over the coming years.
• The market is forecasted to reach $17.53 billion by 2029, with a CAGR of 12.2%.
Several factors such as expansion of the connected car ecosystem, increased adoption of 360-degree camera systems, increased use of cameras in commercial vehicles for fleet management, and growing demand for advanced safety features and shared mobility are anticipated to drive this growth. The major trends like AI and machine learning, development of high-resolution and low-light performance cameras, customising of camera systems for specific vehicle models and applications, will also contribute to the market growth.
What Are The Key Drivers For The Automotive Camera Market's Growth?
An increase in road fatalities is leading to a surge in demand for vehicle camera systems, propelling the growth of the automotive camera market. These systems, containing an accelerometer, g-sensor, GPS tracking and motion detection, enable early detection and recording of safety incidents, such as crashes or rash maneuvering. For instance, in 2023, police in Wales reported 4,348 road casualties, indicating a 2% increase from 2022.
How Is The Automotive Camera Market Segmented?
The automotive camera market covers the following segments:
1) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
2) By View Type: Single View System, Multi Camera System
3) By Technology: Digital Cameras, Infrared Cameras, Thermal Cameras
4) By Application: Park Assist, Advanced Driver-Assistance Systems
What Are The Key Trends Shaping The Automotive Camera Market?
Companies in the automotive camera market are focusing on developing hot-pluggable GMSL automotive HDR cameras to enhance image quality and performance in various driving conditions while improving ease of installation and system integration. For example, in October 2024, e-con Systems launched the world's first hot-pluggable GMSL automotive HDR camera, STURDeCAM34, with a 3MP resolution and advanced 140 dB HDR capability.
Who Are The Major Players In The Automotive Camera Market?
Major players in the market include:
• Continental Automotive GmbH
• Robert Bosch GmbH Mobility Solutions
• Valeo SA
• Aptiv PLC
• Magna International Inc.
Where Does The Automotive Camera Market Have Its Largest Footprint?
Asia-Pacific was the largest region in the automotive camera market in 2024 and is expected to be the fastest growing in the forecast period. The regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.