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Global Market for Automotive Camera to Grow to $11.2B by 2020
January 28, 2016 | Business WireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Automotive Camera Market - Growth, Trends, Forecasts (2015-2020)" report to their offering.
The global market for Automotive Camera is expected to grow to $11.2 billion by 2020 with an estimated CAGR of 21.34% over the forecasted period.
Autoliv, Inc., Delphi Automotive PLC, Denso Corporation, Robert Bosch GmbH, Valeo S.A and TRW Automotive are the key players in the market.
Ambarella recently launched its A7LA automotive camera solution, which enables a full 30fps 1080p full HD single and dual view camera configurations, supporting video recording through both the front and read windshield or even inside the vehicle. This product in particular is a combination of wide dynamic range (WDR), smart auto-exposure and full-resolution oversampling, providing a superior image quality. TRW developed advanced camera solutions for safety systems such as forward collision warning (FCW), following distance indication (FDI) and lane departure warning (LDW).
Growing automotive safety systems, advancements in camera-based drive assistance sensors, growing aftermarket sales of parking cameras are some of the major factors driving the market of the global automotive cameras. However, higher cost of the module is a major hurdle for the market. These cameras in an automotive cost almost 8 times that to a module in a mobile phone camera, making it a challenge for the entry into the market. However, latest advancements in the camera technology and mass production of these units are expected to bring down the price drastically, creating a scope of venture in the sector. The number of units sold in expected to grow 5 times by 2020 compared to that in 2012 as such.
The market for sensing cameras is expected to grow at a faster rate during the forecasted period. This could be accounted to the higher scope of application of these cameras in the advanced driver assistance systems. The market for cameras in passenger cares dominated the overall automotive market. India and China emerging as automotive part manufacture hubs and suppliers for the western automakers is expected to drive the market for cameras in the Asia Pacific region at a higher CAGR over the coming 5 years.
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