Automotive Camera Market

Market Leader - Automotive Camera Market

The Automotive Camera Market is projected to grow from USD 8.0 billion in 2023 to USD 13.9 billion by 2028, at a CAGR of 11.7% during the forecast period. The growth of this market can be attributed to the rising awareness of active safety systems, shifting inclination towards comfort features, the rising deployment of advanced technological elements, and developments in autonomous driving systems.

Major players in the automotive camera are having presence in North America and European regions. The top 5 players in the automotive camera market are Mercedes (Germany), Ford (US), Volkswagen (Germany), General Motors (US), and Hyundai (South Korea). The automotive camera market employs significant cutting-edge technological developments such as the Integration of automotive cameras with advanced technologies such as artificial intelligence (AI), machine learning, 3D and multi-functional cameras with LiDAR Technology which will lead the future trends of the global automotive camera market.

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Robert Bosch is one of the key leading players in the automotive camera market due to its strong distribution network at the global level, as well as its extensive automotive camera offerings. It offers driver assistance systems, multipurpose cameras, near-range cameras, cameras specifically used in self-driving, surround-view monitoring systems, rear-view monitoring systems, etc. Substantial investments in the expansion of camera solutions would help the company further expand its footprint in the automotive camera market. In 2021, the company's mobility solutions division focused its research and development on the current industry trends of electrification, including fuel cells, driver assistance systems and autonomous driving, automotive electronics, semiconductors, and sensors. The company follows several strategies to stand out in the competitive market of automotive cameras. For instance, the company followed a new product development strategy like, In September 2021, Bosch (China) Investment Co., Ltd. developed an automated valet parking with Hycan automobile technology installed in Hycan Z03. The automated valet parking function enables the vehicle to automatically drive to the parking lot as commanded and park at the destinated location by accurately identifying the direction while avoiding obstacles. Also, the second prominent strategy followed by Robert Bosch is merger & acquisition activities. In January 2023, the company announced its plan to acquire eesy-ic GmbH which helped the company to expand its semiconductor activities for the automotive market. In addition to this, In January 2022, Bosch entered a wide-ranging alliance with the Volkswagen Group subsidiary Cariad to develop partially and highly automated driving within the SAE Levels 3 and 4. This collaboration will introduce automated driving functions across all vehicle classes which will boost the growth of the automotive camera market in the years to come.   Robert Bosch offers automotive cameras as part of automated driver assistance systems. It emphasizes driver assistance systems that promote road safety and complement its cameras and radar sensor systems.

Denso is a key player in the automotive camera market and offers to surround view cameras, driver status monitoring cameras, image recognition cameras, rear-view monitoring systems, camera monitoring systems, etc., and is a supplier to global OEMs such as BMW (Germany), Audi (Germany), Ford (US), Honda (Japan), General Motors (US), etc. The company is currently focusing on strategies such as new product development to increase its revenue generation through a wide range of product offerings. For example, In January 2022, Denso developed Global Safety Package 3×1, an active safety system designed to improve the safety of vehicles which is used in the Hino Ranger, the Lexus NX, and the Toyota Noah and Voxy. This system is inclusive of the vision sensor which uses a camera to detect the environment ahead of the vehicle. In June 2020, DENSO opened its Electrification Innovation Center (EIC) at the Anjo plant in Anjo, Aichi, Japan. The expansion supports the development and production of electrified automotive products, systems, and technologies. The EIC consists of a development building for product development, a durability building for reliability testing, and a production plant for quickly ramping up a mass production line. The company generates its highest revenue from Asia Pacific up to 41% of the total revenue. All these marketing programs and increasing their distributorship globally have made the company a prominent player in the automotive camera market.

Continental AG is another leading automotive camera manufacturer. Its solutions include ADAS, cameras, mono cameras, rear-view cameras, surround-view cameras, image recognition cameras, etc. The company also provides customized solutions to its customers to stay competitive in the market and is a key supplier for various automotive products including cameras to OEMs such as Daimler (Germany), Nissan (Japan), Mitsubishi Motors (Japan), KIA (South Korea), etc. In 2021, Continental AG developed an integrated solution for interior sensor technology, which meets safety standards set by the European Commission and European New Car Assessment Program (Euro NCAP). It offers real-time object monitoring of the vehicle interior and increases vehicle comfort. In January 2023, Continental AG announced at CES 2023 that it has collaborated with Ambarella Inc. to jointly develop full-stack systems for advanced driver assistance and highly automated driving and developed scalable end-to-end hardware and software solutions based on artificial intelligence. Also, in September 2022, Continental AG announced that it has opened a new Application Development Center in Budapest, Hungary. With this, it will expand its development toward autonomous driving technology. The new center in Budapest mainly focuses on long-range radar, radar for vehicle ambient detection, and camera systems for the European market.

Valeo is also considered a key player in the automotive camera market. It provides a wide range of automotive camera solutions for diversified customers. The company has been continuously working on optimizing its products. Valeo demonstrated the technology called XtraVue to improve the external visibility of the vehicle for the driver, thereby enhancing safety. This system comprises a set of connected computer vision cameras capable of projecting external views over the interior display. As of November 2022, the company produced 10 million front camera systems integrating Mobileye EyeQ technology at its Wemding site in Germany. The strong collaboration between Valeo and Mobileye is further focusing on the integration of the latest generation of the Mobileye SoC into the Valeo front camera system and Valeo’s cutting-edge centralized computer and software.

Valeo focuses on strengthening its business operations through partnerships with major players in the market. In January 2023, Valeo and Embotech formed a consortium, VEN.AI for an automated parking solution. Also, BMW and Valeo signed an agreement for strategic cooperation, which will focus on the joint development of next-generation high-end parking user experience for customers on private grounds and parking facilities.

Related Reports:

Automotive Camera Market by Application (ACC, BSD, LDW, FCW, AFL, IPA, Driver Monitoring System & Night Vision), View (Front, Rear, Surround), Technology, Level of Autonomy, ICE-Electric & Hybrid Vehicle, Application & Region – Global Forecast to 2028

See Also:

Automotive Camera and Integrated Radar and Camera Companies

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Automotive Camera Market Size,  Share & Growth Report
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