PORTLAND, ORAGON, UNITED STATES, August 16, 2022 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, Global Automotive Camera Market by Application, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global automotive camera market was valued at $11,401.6 million in 2017, and is projected to reach $24,092.1 million by 2025, growing at a CAGR of 9.70% from 2018 to 2025.
Presently, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and Germany led the overall market in Europe. However, in the Asia-Pacific region, China currently dominates the market.
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Rise in demand for passenger vehicles coupled with safety & security concerns among consumers and increase in number of road fatalities drive the growth of the global automotive camera market considerably. In addition, rise in trend of installing advanced driver assistance system (ADAS) and legislations mandating installation of cameras in vehicles are anticipated to provide potential growth opportunities for the market. However, high installation cost of the cameras is one of the major restraints of the market.
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Key Market Players
APTIV PLC (DELPHI AUTOMOTIVE PLC)
AUTOMATION ENGINEERING INC. (MYCRONIC AB)
MAGNA INTERNATIONAL INC.
OMNIVISION TECHNOLOGIES INC.
ROBERT BOSCH GMBH
STONKAM CO., LTD.
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Numerous legislations have taken the initiative of mandating the installation of cameras in the vehicles for safety purposes. According to the New Car Assessment Programs (NCAPs) policy, vehicles need to have safety ratings to encourage significant safety improvements in new car designs. Similarly, the national highway traffic safety administration (NHTSA) has announced that all the new light vehicles, including SUVs, trucks, and vans must be incorporated with a backup rearview visibility camera starting from May 1, 2018. Increased focus of the government on road safety is expected to fuel the growth of the market in the near future.
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Key Benefits of Automotive Camera Market:
This study comprises an analytical depiction of the global automotive camera market size with current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
The current market is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency.
Porters five forces analysis illustrates the potency of the buyers and suppliers in the industry.
The report includes the market share of key vendors and automotive camera market trends.
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Automotive Backup Camera Market https://www.alliedmarketresearch.com/automotive-backup-camera-market
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