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Global Automotive Mono Camera Market 2018-2022
October 16, 2018 | Business WireEstimated reading time: 2 minutes
Technavio analysts forecast the global automotive mono camera market to grow at a CAGR of nearly 26% during the forecast period, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
Integration with other automotive technologies and systems is one of the major trends being witnessed in the global automotive mono camera market 2018-2022. The automotive industry’s efforts to accomplish the goal of zero road fatalities, combined with meeting consumer safety demands and governments regulations, is propelling the adoption of advanced safety and driver assistance systems in vehicles. This resulted in automakers, collaborating with automotive safety and automotive camera manufacturers, integrating radar and cameras in automotive safety systems, which will combine video sensing, radar sensing, and data fusion in a single module.
According to Technavio analysts, one of the key factors contributing to the growth of the global automotive mono camera market is the stringent regulatory standards driving fitment of ADAS:
Global Automotive Mono Camera Market: Stringent Regulatory Standards Driving Fitment of ADAS
Advanced safety systems, such as LDWS, night vision system, adaptive cruise control, blind spot detection system, driver monitoring systems, help minimize collisions and fatalities and improve overall vehicle safety. Hence, with governments in Europe, the Americas, and APAC implementing stringent safety regulations, development and adoption of these systems are expected to increase over the forecast period.
According to a senior analyst at Technavio for research on automotive electronics, “Rising vehicle accidents owing to driver fault is pushing authorities globally to implement regulatory standards for the fitment of advanced technologies in vehicles with the aim to minimize accidents and fatalities. The continuous emphasis by governments and regulatory bodies to curb road crashes will positively impact the market growth.”
Global Automotive Mono Camera Market: Segmentation Analysis
The global automotive mono camera market research report provides market segmentation by application (passenger cars and commercial vehicles) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The passenger cars segment held the largest market share in 2017, accounting for nearly 95% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 41%. This region is expected to dominate the market through 2022, however, there will be a decrease in its market share by over 1%.
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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