According to Stratistics MRC, the Global Vehicle Camera market is expected to grow from $11.76 billion in 2016 to reach $25.69 billion by 2023 with a CAGR of 11.8%.
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Increasing number of road accidents worldwide, growing adoption of ADAS in modern automobiles and increasing focus of insurance companies on reducing costs due to accidents are some of the key factors driving the market growth. However, strict government regulations in countries concerned with public video recording is hampering the market growth. Deployment of advanced technologies and equipment is expected to create huge opportunities for the vehicle camera market.
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By end user, private vehicles segment dominated the market owing to adoption of vehicle cameras for safety and security of their vehicles, video recording in case of accidents and theft for legal processes among others. Geographically, North America holds for the largest market share in terms of revenue due to increasing adoption of advanced driver assistance systems (ADAS) in automobiles used for private and commercial purposes. In addition many companies are coming forward in offering schemes such as in-car camera incentive program and safety regulation by government encouraging the consumers for the installation of these cameras.
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Some of the key players in the Vehicle Camera market include Omnivision Technologies Inc., Continental AG, Robert Bosch GmbH, AEI Inc., Valeo Stonkam, Magna International Inc, Delphi Automotive PLC, Mobileye, Autoliv Inc., Transcend Information, Inc., Qrontech Co. Ltd., S.Will Industrial Ltd., GoPro and DCS Systems Ltd.
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Product Types Covered:
• Camera Module
• Thermal Camera
• Digital Camera
• Infrared Camera
• High-End (above US$ 200)
• Affordable (up to US$ 100)
• Mid-Range (US$ 100 to US$ 200)
End Users Covered:
• Transportation Vehicles
• Government & Defense Vehicles
• Private Vehicles
• Commercial Vehicles
• Other Vehicles
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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