The report titled “Automotive Camera Market” sheds a concentrated focus on the Protective Clothing industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.
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The Global Automotive Camera Market is estimated to grow at a CAGR of 12.4% during the forecast period, from USD 6.8 Billion in 2020 to USD 12.2 Billion by 2025.
Top Companies Profiled in the Automotive Camera Market:
- Robert Bosch (Germany)
- Continental (Germany)
- Denso (Japan)
- Valeo (France)
- Aptiv (UK)
- ZF (Germany)
- Magna (Canada)
- Ficosa (Spain)
The COVID-19 pandemic is expected to have a severe impact on the automotive camera market. Both, the production and sales of new motor vehicles have come to a halt across the globe; the whole ecosystem has been disrupted. OEMs must wait until lockdowns are lifted to resume production. Post the pandemic, the demand for new vehicles will be significantly low.
“ADAS segment to grow at a significant rate during the forecast period.”
ADAS is estimated to be the fastest growing segment, by value, of the automotive camera market from 2020 to 2025. The electronic applications in vehicles have increased significantly over the past few years, owing to the increased focus on safety, comfort, and convenience. Along with vehicle safety, improved lifestyle, changing buyer preferences, increased average miles driven per year, and less compatible infrastructure with increasing vehicle fleet have increased the need for camera for ADAS.
“The heavy commercial vehicle segment is estimated to be the fastest growing market, in terms of value, in the automotive camera market.”
Major reliance on heavy commercial vehicle has encouraged lawmakers to establish safer and less fatigue-inducing driving conditions by standardizing more camera based ADAS features. For instance, the European Union has mandated vulnerable road user detection and warnings, especially for trucks and buses.
Due to COVID-19, in March of 2020, total new truck registrations in the EU continued to suffer from the slowdown in demand for heavy-duty trucks, decreasing by 35.6%. The four largest EU markets all recorded significant declines last month: France (-49.3%), Italy (-33.5%), Spain (-30.8%), and Germany (-27.6%).