Allied Market Research’s report titled “Global Automotive Camera Market by Application, Technology, and Vehicle Type: Global Opportunity Analysis and Industry Forecast, 2018-2025” sees the global automotive camera market 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. As per the research, North America presently 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 that market.
- 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.
- Rise in the 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.
- High installation cost of the cameras is one of the major restraints of the market.
- Since application, the adaptive cruise control system segment led the global automotive camera market in the year 2017.
- The North America region held most of market share in 2017.
- By vehicle type, the passenger car segment has been dominating the global automotive camera market in the year 2017. However, the heavy commercial vehicle segment is expected to grow at the highest CAGR during the forecast period (2018-2025).
- The LAMEA region is anticipated to exhibit the highest CAGR during the forecast period.
For greater insights, request a sample of the “Global Automotive Camera Market” report.
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