Automotive Camera & Camera Module Market Size, Share, Growth, and Industry Analysis, By Type (Front Camera Module, Rear Camera Module and Surrounding Camera Module), By Application (Passenger Car, SUVs, Bus & Trucks and Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Automotive Camera & Camera Module Market REPORT OVERVIEW

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The global automotive camera & camera module market size was USD 11970 million in 2022 and is projected to touch USD 41470 million by 2031, CAGR 14.8% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Electronic tools used in the automotive sector to record photos and video for a variety of purposes include vehicle cameras and camera modules. Modern automobiles rely on them to make advanced driver assistance systems (ADAS) and other automotive technologies possible. A device that uses image sensors and lenses to collect visual data from the environment around the car is called an automobile camera. The front grille, side mirrors, rear bumper, or windscreen are popular locations for these cameras to be mounted on a vehicle. To help drivers in various situations and improve overall safety, they offer real-time visual data.

On the other hand, integrated camera systems utilized in automotive applications are referred to as camera modules. A camera module is a small container that houses the camera sensor, lens, and supporting electronics. During the production process, these modules are intended to be quickly and readily incorporated into cars. For functions like lane departure warning, front collision warning, blind-spot recognition, and automatic emergency braking, they give visual input. For the purpose of identifying and analyzing objects, road signs, and traffic patterns, these systems rely on cameras. For parking, maneuvering, and obstacle detection, many cameras are utilized to provide a bird's-eye view or 360-degree view surrounding the car. Through the presentation of the area behind the car on a dashboard or infotainment screen, these cameras assist drivers in reversing maneuvers.

COVID-19 Impact: Decline in Vehicle Sales to Hinder Market Growth

The pandemic led to factory closures, broken supply chains, and labour shortages in numerous areas, which had an impact on the manufacturing of vehicle cameras and camera modules. Production and delivery were delayed as a result of the manufacturing facilities having to take safety precautions and work at reduced capacity. Due to economic uncertainty, decreased consumer spending, and lockdown measures, the worldwide car sector saw a major reduction in vehicle sales throughout the epidemic. Since automotive cameras and camera modules are generally integrated into new vehicles, this decline had a direct influence on demand for those products. The epidemic increased demand for contactless technologies, including as gesture recognition and touchless interfaces, in automobiles. This change increased the emphasis on camera-based solutions for a variety of tasks, including touchless control and hand gesture detection for infotainment systems.

LATEST TRENDS

"High-Resolution Cameras to Enhance Market Growth"

In the automobile sector, there is an increasing need for cameras with improved resolution. greater image quality, greater object detection, and increased safety are all made possible by higher resolution. The market for automotive camera & camera module is moving towards cameras with resolutions of 2 megapixels (MP) and higher, allowing for more granular and accurate visual data. Automotive cameras and camera modules are being equipped with artificial intelligence (AI) and machine learning (ML) technology. These devices' capacities to detect, categorise, and track objects are improved by this integration. More accurate and dependable performance is made possible by AI and ML algorithms, especially in difficult settings and intricate driving situations.

Automotive Camera & Camera Module Market SEGMENTATION

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• By Type

Based on type market is classified as front camera module, rear camera module and surrounding camera module.

• By Application

Based on application market is classified as passenger car, SUVs, bus & trucks and others.

DRIVING FACTORS

"Government Regulations and Safety Standards to Augment Market Growth"

Consumers, authorities, and automakers are now all extremely concerned with vehicle safety. Advanced safety features and driver assistance systems are made possible thanks in large part to automotive cameras and camera modules. The goal to decrease accidents, mitigate hazards, and improve all-around road safety is what drives the need for these technologies.

 Governments all across the world are putting strict rules and safety requirements into place for cars. Specific safety features like lane departure warning systems, automated emergency braking, and rearview cameras are frequently required by these rules. The adoption of automotive cameras and camera modules is prompted by the fact that they are crucial parts for satisfying these regulatory criteria.

"Rise in Autonomous Vehicles to Propel Market Growth"

Modern cars are increasingly using ADAS features including adaptive cruise control, lane-keeping assistance, and blind-spot recognition. In order to record visual data and deliver real-time data for object detection, lane monitoring, and collision avoidance, these systems rely on automobile cameras. The expanding usage of vehicle cameras is a result of the rising need for ADAS. Autonomous vehicle development and implementation require complex sensor systems, including automotive cameras. In autonomous driving scenarios, cameras offer visual input for perception, object recognition, and decision-making. The need for automotive cameras and camera modules is anticipated to increase dramatically as the autonomous vehicle market develops.

RESTRAINING FACTORS

"Limited Standardization to Impede Market Expansion"

Camera interfaces, communication protocols, and data formats are not currently standardised throughout the automotive sector. It may be difficult for camera module providers and vehicle manufacturers to achieve seamless interoperability and compatibility between various camera systems and vehicle platforms due to the absence of standardisation. Extreme temperatures, vibrations, dampness, exposure to dust or debris, and other environmental adversities must be tolerated by automotive cameras and camera modules. It is essential to provide long-term dependability and durability because camera system failure might have serious consequences for safety. The process of developing and producing cameras may become more complicated and expensive in order to meet these durability standards.

Automotive Camera & Camera Module Market REGIONAL INSIGHTS

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"Asia-Pacific to Dominate the Market Due to its Extensive Automotive Manufacturing Sector"

A significant market for automotive cameras and camera modules is the Asia-Pacific area.  The region's position in the automotive camera & camera module market share is a result of its extensive automotive manufacturing sector, rising vehicle production, and increased attention to vehicle safety. In the market for automotive cameras and camera modules, it is another important region. Numerous well-known automakers and tech firms working on ADAS and autonomous driving technologies are based in the United States and Canada. The region's importance in the market is influenced by the strict focus on car safety rules, rising consumer demand for cutting-edge features, and the existence of important camera module providers.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players of automotive camera & camera module are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Panasonic (Japan)
• Valeo (India)
• Magna (Canada)
• Continental (Germany)
• MCNEX (South Korea)
• Samsung (South Korea)
• LG Innotek (South Korea)
• Sharp (Japan)

REPORT COVERAGE

The automotive camera & camera module industry report anticipates a detailed analysis of the global market size at the regional and national level, the ssegmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Aanalysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.