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Automotive Camera Market 2019 by Regional Trend & Growth Projections to 2025

Author : Rahul Varpe | Published Date : 2019-08-06 

Global Automotive Camera Market report 2025 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.


The aforementioned information quite overtly indicates that North America is expected to be a major contender of the global automotive camera market, pertaining to the rising number of vehicle crashes in the U.S. and Canada and the subsequent implementation of stringent norms to reduce road accidents. Driven by the rise in the demand for luxury vehicles and the upsurge in the deployment of ADAS & safety systems in cars, the North America automotive camera industry size is expected to showcase a CAGR of 24% over 2019-2025.


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Challenges that may restrict automotive camera market share


The advent of trifocal cameras has enhanced the overall quality of automotive cameras. Moreover, these cameras are integrated with advanced LiDAR sensors which adds to the cost of the overall vision systems. Consequentially, it has been observed that price-conscious customers are reluctant to install automotive cameras in economic and low-cost vehicles, dampening the growth prospects of automotive camera industry.


However, with the launch of improved and technically-superior automotive cameras by startups, the prominent market players are making an effort to reduce the costs of popular automotive cameras. This trend might prove to be instrumental in revitalizing the automotive camera market size.


In the forthcoming years, automotive camera market is likely to be defined by numerous other challenges, though it is expected that core companies will, in all probability, figure out ways to deal with the constraints. As per an automotive camera industry analysis, the market size is forecast to surpass a remuneration figure of USD 19 billion by 2025.


The emergence of self-driving cars has also created a potential growth avenue for the automotive camera industry as most self-driving or autonomous vehicles “see” the world around them through a combination of sensors and cameras. In fact, Elon Musk recently opined that LiDAR, the laser-based scanning technology that most autonomous car initiatives rely on is replaceable by cameras and Cornell University researchers have backed up the claim. According to them, autonomous cars can now use a new method of forming a 3D of the world around them by using a pair of comparatively inexpensive cameras.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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