Automotive Camera Market Worth $12.2 Billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, July 10, 2020 /PRNewswire/ -- According to the new market research report "Automotive Camera Market by Application (ADAS, Park Assist), View Type (Single View, Multi-Camera), Technology (Thermal, Infrared & Digital), Level of Autonomy (L1, L2&3, L4, L5), Vehicle & Class, Electric Vehicle and Region - Global Forecast to 2025", published by MarketsandMarkets, the global Automotive Camera Market is projected to reach USD 12.2 billion by 2025 from USD 6.8 billion in 2020, at a CAGR of 12.4% during the forecast period. The rising demand for semi-autonomous and autonomous driving, focus on advanced safety systems, increasing adoption of driving assistance features, and increasing consumer disposable income will fuel the demand for automotive cameras. Moreover, increasing adoption of ADAS & safety features, focus on vehicle safety, government safety regulations, and focus on reducing accidents are going to play a pivotal role in the adoption of automotive cameras in the future.

The COVID-19 pandemic has resulted in halted production and plunged sales and has forced key players in the global automotive field to rethink their strategies. Rescheduling the launch of models and projects, stabilizing dealer networks, tightly managing cash, and reviewing investment portfolio has affected the production and sales of passenger and commercial vehicles across the globe, which has resulted in a dip in the Automotive Camera Market in 2020.

Browse in-depth TOC on "Automotive Camera Market"
435 – Tables
69 – Figures
341 – Pages

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Park assist segment, by application, is estimated to hold the largest market share during the forecast period.

The park assist segment is estimated to be the largest segment of the Automotive Camera Market. The government mandates and increasing penetration of camera-based features are some of the major factors driving this segment. Currently, park assist features are most commonly used in vehicles. The majority of vehicles are equipped with the digital rearview camera that assists the driver while parking a vehicle. Moreover, the US and Canadian governments have mandated the rearview camera because of its safety benefits. Canada has made rearview camera systems mandatory in new cars since May 2018.