India Automotive Camera Market Expected to Register a High CAGR During the Forecast Period
Increasing technological
development and rising safety concerns are expected to drive the demand for
India Automotive Camera Market.
According to TechSci Research
report, “India Automotive Camera Market- By Region, Competition Forecast and
Opportunities, 2019-2029,” the India automotive Camera Market is
anticipated to grow during the projected period owing to growing technological
innovation and rising safety concerns. The demand for automotive cameras in
India is expected to increase in the forthcoming years owing to estimated
installation of advanced driver-assistance systems (ADAS).
The market for automotive camera
has been divided into camera type, vehicle type, camera class, application,
technology, region and competitive landscape. Based on camera type, the market
is segmented into monocular camera and stereo camera. The India automotive
camera market based on camera type is majorly dominated by monocular camera. In
terms of vehicle type, the market is divided into Passenger Cars, Light
Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles (M&HCV).
Among which, the passenger cars have dominated the India Automotive Camera
Market due to the increasing number of passenger vehicles on road, rising
urbanization & population, better living standards, and growing purchasing
power of consumers. Regarding camera class, the market is segmented into entry
level, medium level and premium level. The medium class cameras majorly
installed in vehicles is the leading segment followed by entry level camera
class, which has low resolution, is cheaper and easy to manufacture. Based on
application, the market is segmented into in rear view assist and ADAS. In
terms of technology, the market is segregated into digital camera and thermal
cameras. Based on region the market is segmented into North, South, West &
East.
To enhance luxury and safety,
major vehicle manufacturers are focusing on integrating autonomous features
into their vehicles, which can be facilitated by automotive cameras that have
multiple applications. With the introduction of new driving assistance
features, the number of cameras in vehicles is increasing. As a result, the use
of semi-autonomous features is rising, creating opportunities in the market.
Several major automakers plan to launch autonomous vehicles after 2022, with
OEMs, Tier I suppliers, and non-automotive players expected to develop such vehicles,
thereby creating lucrative prospects in the automotive camera market in India.\
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A multi-camera system comprises
numerous cameras, including front, rear, and side views, and is connected to
the interior display system, resulting in a complex network of amplified wiring
and electronic systems. The installation of such systems requires additional
components, leading to increased overall vehicle costs. As vehicle
manufacturers aim to provide advanced safety features at an affordable price,
many OEMs are unable to offer technologically advanced safety features in their
vehicles due to cost constraints.
OmniVision Technologies, Inc.
and GEO Semiconductor Inc. announced a joint solution in September 2020, aimed
at providing the highest quality images for rear-view cameras (RVCs),
surround-view systems (SVS), and e-mirrors. The solution incorporates
OmniVision's OXO3C10, which is the world's sole automotive image sensor that
combines a large 3.0-micron pixel, a high dynamic range of 140 dB to minimize
motion artifacts, and the best LED flicker mitigation (LFM) performance.
Bosch created an MPC3 mono video
camera in September 2019, specifically for advanced driver assistance systems
(ADAS) and autonomous driving applications. The camera employs a multi-path
technique and artificial intelligence (AI) for more efficient recognition.
Denso has recently developed new
products for "Advanced Drive" technology that will be incorporated
into the latest models of Lexus LS and Toyota Mirai. These products comprise
Lidar, Locator Telescopic Camera, a Spatial Information Service Electronic
Control Unit (SIS ECU), and Automated Driving Extension Electronic Control Unit
(ADX ECU). The Locator Telescopic Camera is equipped with two types of cameras,
one for short-range and the other for long-range imaging. It stands out for its
long imaging distance and high pixel count, enhancing its precision.
The demand for automotive
cameras in passenger cars is surging due to the need for safer driving, which
helps reduce accidents. Moreover, government incentives to adopt autonomous
passenger cars for transportation are expected to boost the deployment of automotive
cameras in these vehicles. The need to lower operating costs, enhance
efficiency, and ensure user safety is also anticipated to fuel the growth of
the passenger cars segment and drive revenue growth in the coming years.
Key market players in the India
Automotive Camera Market include:
- Robert Bosch GmbH
- DENSO Corporation
- Daimler AG
- Autoliv Inc.
- Visteon Corporation
- Magna International Inc.
- L3 Technologies Inc.
- Raytheon Company
- Aisin Seiki Co Ltd
- Delphi Automotive PLC
- Valeo SA.
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“The India Automotive Camera
Market is expected to expand during the projected period. The use of ADAS has
grown steadily owing to the rise in vehicle accidents. Moreover, the
significance of automatic emergency braking systems and night vision systems
has increased significantly. Factors such as growing acceptance of clean and
green energy source vehicles with advanced technologies, as well as rising
safety concerns, are some of the reasons that are projected to support market
expansion and drive the market,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“India Automotive Camera Market
By Camera Type (Monocular Camera, Stereo Camera), By Vehicle Type (Passenger
Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles), By
Camera Class (Entry Level, Medium Level, Premium Level), By Application (Rear
View Assist, ADAS), By Technology (Digital Cameras, Thermal Cameras), By
Region, Competition Forecast & Opportunities, 2019-2029,” has evaluated the
future growth potential of India Automotive Camera Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also identifies
and analyses the emerging trends along with essential drivers, challenges, and
opportunities present in the India Automotive Camera Market.
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