Report Description

India automotive camera market is anticipated to grow significantly with rise in shift towards technology and various initiatives towards reducing road deaths. Nowadays, many automotive manufacturers are focusing on integrating autonomous features in vehicles to improve safety and luxury. According to the World Health Organization (WHO), more than 1.3 million people die on roads each year, and up to 50 million people suffer non-fatal injuries, some of which result in lifelong disabilities. Even though, they collectively produce 60% of the world's vehicles, underdeveloped and developing countries account for 93% of all traffic fatalities. Road traffic injuries cause significant economic losses for victims, their families, and the country. The number of driving assistance features in cars that will help to reduce traffic accidents and promote safe driving is growing. The implementation of these semi-autonomous features opens up a plethora of possibilities for the automotive camera market. 

Rising demand for automobiles and growing awareness towards safety concerns among people, strict government norms, low price parking sensors & cameras and increase in adoption of ADAS are resulting in the growth of automotive camera market in India.

In India the passenger vehicle sales had declined in the year 2020 due to the COVID-19 pandemic, however the market showed a good recovery in the year 2021. Earlier parking assist systems were featured in the luxury and premium segment cars but nowadays many OEMs are now introducing parking assist system features in mid and small segment cars such as Hyundai Grand i10 and Maruti Ignis etc. to target the mid-market.

The advanced driver assistance system, or ADAS as it is more commonly known, is one of the smart technologies that automakers are implementing to provide safer and future-ready vehicles. ADAS is available for taxi and cab fleets, commercial truck platooning and commercial fleets, delivery vehicles, and passenger vehicle fleets as well. An electronic system called ADAS uses cutting-edge technology to help drivers with things like lane departure warning, traffic sign detection, parking assistance, and pedestrian detection. A detailed 3D representation of the environment is created using a combination of the automotive camera used in ADAS, image processing algorithms, and high-performance computing. The cameras used in automobiles capture sounds and sights while the vehicle is being driven. The footage the cameras produce can be used to show what occurs on the road or inside the vehicle. Most car cameras are mounted on the windscreen rather than the dashboard; previously, forward-facing cameras were the norm, but these days some dual-lens (front and back) cameras are also becoming more and more common. 

As soon as the car starts, these cameras get switch on automatically and begin recording as the car engine start. Certain cameras are efficient of recording in high definition and deliver great quality videos. These cameras can record constantly until their limited flash storage is full, these recording can be deleted and recorded again which is very helpful for the driver as one can see in case of accident and identify the culprit.

Initiatives related to safety of vehicles and driver assistance

In India, ADAS innovations have become more prevalent, including camera-based systems. By offering features like lane departure warning, collision avoidance, and adaptive cruise control, these systems which are fitted with automobile cameras improve driver safety. The need for ADAS, which is boosting the growth of the automotive camera market, is being driven by rising awareness of traffic safety and a desire for cutting-edge technologies in cars. For the purpose of improving road safety, the Indian government has put in place a number of laws and standards. The Bharat New Vehicle Safety Assessment Programme (BNVSAP), for instance, requires the installation of specific safety equipment, such as rearview cameras, in all new passenger vehicles. Also, Rapid technological advancements in automotive cameras are allowing for greater resolutions, wider viewing angles, and improved functionality. Better object detection, pedestrian recognition, and traffic sign recognition are made possible by the incorporation of artificial intelligence (AI) and machine learning (ML) algorithms with automobile cameras. The need for car cameras in India is being fueled by technology developments that not only improve safety but also provide a more engaging driving experience.

Advancement in Technology

Adaptive cruise control, lane departure warning systems, traffic sign recognition, night vision, pedestrian detection, and other features are supported by autonomous vehicles. Innovations and technological advancements have become essential components of the new technology-driven world. It offers more features, greater efficiency, and brings the development of fully autonomous driving one step closer. All of these benefits encourage people to install ADAS in their cars, which has a positive impact on the expansion of the automotive camera market.

Partnership among the companies for the new technologies

The demand for autonomous driving technology keeps rising as more businesses invest in their R&D departments, which quickens the pace at which advancements in luxury, safety, and transportation technology are made. There are numerous new strategic alliances forming between automakers and tech companies, including those with Apple and BMW AG and Daimler AG, Microsoft Corporation and Aktiebolaget Volvo, Google LLC and Fiat Chrysler, Uber Technologies, Inc. and Carnegie Mellon University, as well as Lyft and General Motors, that will pave the way for more advanced driving and increased vehicle safety. The companies involved in this partnership will work on an advanced driver assistance systems where cameras will be essential for the driver's safety.

Hefty Cost of Camera Systems

The interior display system is connected to the multi-camera system, which consists of multiple cameras for front, rear, and side views. As a result, the entire system combines electronics systems with complex networks and amplified wiring. The installation of such systems necessitates the installation of additional components, raising the cost of vehicles. Vehicle manufacturers have a tendency to offer sophisticated and useful safety features at a low cost, which in turn prevents many OEMs worldwide from including technologically sophisticated safety features in their vehicles.