The Vehicle Camera Market will see tremendous remarkable growth at a rate of 10.4% from 2022 to 2030 while touching $6,800 Million by 2030. Vehicle cameras record and show the driver a constant view of their surroundings. This helps drivers and an imaging system that increases vehicle safety by allowing them to make better decisions based on real-time views of the environment that coincide with vehicle maneuvers. Depending on the application, vehicle cameras can be mounted both inside and outside the vehicle.
The ADAS system in the car is combined with a number of cameras and signaling devices that serve to increase safety. Obstacle detection is aided by onboard cameras, particularly in blind spots. On the back, sides, and front of the truck are mounted cameras and signaling equipment. The World Health Organisation estimates that each year, traffic accidents result in 20 million to 50 million injuries and 1.25 million fatalities. The biggest contributing factors to road accidents are driver negligence and fatigue-related errors.
January 2023: The Ring Car Cam, a new addition to an already extensive array of Ring video camera devices, has been unveiled by Amazon.com Inc.
Ring, a company well known for its doorbell cameras, created the Ring Car Cam as its first dashboard camera. The cameras will offer consumers video protection while they are away from home and have dual-facing HD, wide-angle cameras with night vision to deter break-ins and record occurrences while driving. The camera may make a phone call to the owner and deliver footage through home WiFi using motion alerts and real-time notifications. When the car is parked and connected to WiFi or a cellular network, a microphone and light are also built into the camera itself, enabling two-way conversation functionality with the Ring app.
The camera features a built-in cover that can be pulled over the inside-facing camera and electrically disables the microphone in order to safeguard user privacy. The camera has a plastic bar attached to its rear that can be fastened to the dashboard or to the windscreen to make installation simple. Instead of being hooked into the electrical system, it receives electricity through the OBD-II connector, which is typically used for onboard diagnostics and is found underneath the dashboard.
The camera may also automatically or manually record videos. The Ring Protect Go subscription plan, which adds LTE cellular connectivity and costs $6 per month or $60 per year, is included with the camera.
February 2023: In a $180 million deal, indie Semiconductor will acquire GEO Semiconductor for its video processor technologies for vehicle cameras.
The agreement makes it possible for full sensor fusion of Radar, LiDAR, Ultrasound, and Computer Vision technology in ADAS applications, making cars "uncrashable." Under normal closing conditions, the deal is anticipated to close in the first quarter of 2023.
Sensing cameras are increasingly important in active safety systems for automobiles. The rise in passenger safety concerns and stringent government actions can be attributed to the growth. In addition to outperforming typical driving cameras in terms of performance, sensing cameras also provide more affordable alternatives while keeping high standards of quality.
Two crucial parts make up these sophisticated safety systems: Using sensors like radar, ultrasonic sensors, and webcams, remote sensors can gather information about the physical environment. Following data collection from these cameras by the processing computer, the sensor makes a judgment call and issues instructions to the vehicle subsystems.
The need for cameras is rapidly rising as ADAS technologies in cars are being adopted more widely. Sensing cameras outperform regular driving cameras in terms of performance and cost-effectiveness while also upholding the necessary vehicle quality standards. The need for cameras has been rising as ADAS technologies in cars have become more widely used.
One of the major reasons for the robust growth of the worldwide vehicle camera market in the approaching years can be the surging influence of new vehicle assessment programs (NCAP). The need for automotive cameras in cars is growing due to rising passenger car demand and increased safety consciousness, which is likely to boost the growth of the automotive camera market. One of the key drivers behind the expansion of the automotive camera market is the rising demand for sensing cameras in driver assistance systems as well as for innovative technologies in cars.
Manufacturers of entry-level automobiles are being forced to comply with stringent safety rules by governments in emerging nations. Strict safety requirements have also shown to be advantageous for occupants when suing insurance companies in the event of an accident. For a number of applications like lane departure warning, blind spot identification, and adaptive cruise control (ACC) to help prevent collisions with objects and other vehicles, cameras, and sensors are coupled with the vehicle.
During the forecast period, rising auto sales and production as well as rising consumer disposable income will be the primary drivers of market expansion. The primary factors limiting the growth of the camera market over the predicted period are fluctuating commodity prices.
Commercial and passenger vehicle types have been covered in the report. A rise in passenger vehicle production and sales is expected to give the passenger car category market dominance over the projection period. For instance, from 2,303,0 thousand to 3,350.1 thousand passenger cars were sold in the United States. Consumers in developing nations are also earning much more money per capita.
Front View, Rear View, and Interior Camera are the camera types studied by MRFR. The increased awareness of vehicle safety, the expedited processing of insurance claims, and the need for security against escalating car thefts are all factors in the front-view camera segment’s expansion. Front-view cameras are used for both private and professional purposes, as well as by the police. An important aspect driving product demand is an increase in false vehicle accident claims for insurance and medical benefits. Additionally, it has been noted that insurance firms promote the installation of front-view cameras in cars as a way to swiftly and accurately resolve insurance claims.
Night Vision Recording, Accident Sensors, and Built-in GPS are the top technologies studied in the report.
Government and Defense Vehicles, Transportation Vehicles, and Private Vehicles are the key market end-users.
Europe, North America, Asia-Pacific, and the Rest of the World are the major segments, with respect to region.
During the study period, the market in the Asia-Pacific market will develop at the fastest rate. The primary drivers of the Automotive Camera Market in the Asia Pacific area are the hybridization and electrification of vehicles, rising electric vehicle production, and rising passenger vehicle sales.
A number of original equipment manufacturers have moved their auto production facilities to nations due to the significant development potential. The Asia-Pacific area is an ideal location for automakers to establish their facilities due to the region's growing population and government policies that support industrial growth. Due to rising sales and production, these factors have made Asia Pacific the region with the largest market for automotive cameras.
In North America, the drive recorder industry will see remarkable expansion. As the government adopts strict safety standards to decrease traffic accidents, the U.S. is anticipated to dominate the region. For instance, the U.S. Department of Transportation mandated backup cameras for vehicles weighing less than 10,000 lbs. in May 2018.
There are a lot of local, regional, and international suppliers of car cameras. The industry is extremely competitive, with every company fighting for the largest share of the market. The expansion of the market is greatly impacted by intense rivalry, frequent changes in the law and government regulations, as well as other factors. The vendors compete based on price, product quality, dependability, and aftermarket services. The providers need to provide high-quality, reasonably priced solutions in order to remain competitive in this market environment.
Robert Bosch Gmbh (Germany), Delphi Automotive PLC (U.K.), Autoliv Inc (Sweden), Valeo (France), Continental AG (Germany), Qrontech Co. Ltd. (South Korea), GoPro Inc. (U.S.), Falcon Electronics LLC (Balkans), DCS Systems Ltd. (U.K.), Transcend Information Inc. (Taiwan), and S.Will Industrial Ltd. (China) are the most reputed manufacturers of vehicle cameras.
| Report Attribute/Metric | Details |
| Market Size | 2030 : USD 6,800 Million |
| CAGR | 10.4% CAGR (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Vehicle Type, by Camera Type, by technology, by end use application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | robert Bosch Gmbh (Germany), Delphi Automotive PLC (U.K.), and Autoliv Inc (Sweden), Valeo (France), and Continental AG (Germany),Qrontech Co. Ltd. (South Korea), GoPro Inc. (U.S.), Falcon Electronics LLC (Balkans), DCS Systems Ltd. (U.K.), Transcend Information Inc. (Taiwan), S.Will Industrial Ltd. (China) |
| Key Market Opportunities | Real time recording |
| Key Market Drivers | Loop recording G-sensors |
Vehicle Camera Market Highlights:
Frequently Asked Questions (FAQ) :
Qrontech Co. Ltd. (South Korea), Continental AG (Germany), GoPro Inc. (U.S.), Falcon Electronics LLC (Balkans) are the top key players investing heavily in the market share.
2022-2030 is the growth period for the market
The market has recorded a CAGR of 10.4% for expansion in the forecast period.
The factors boosting the growth of the market are the technological advancements in the cameras along with the reduction is prices, the introduction of various road safety regulations by the government of various countries.
North America region is going to score the largest market share among the other.
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