"Vehicle Cameras Market to register Tremendous Growth"

The vehicle cameras market worldwide is expected to grow with a CAGR of 10.30% during the forecast period from 2021 to 2029, starting from US$ 11.21 Bn in 2020. Vehicle cameras are useful in various instances such as to prevent theft, to avoid collisions, blind spot detection, driver monitor system and others. Every year nearly 1.25 Mn people die in road crashes, with additional 20-50 Mn being injured. These cameras are attached at different positions in the vehicle such as on dashboard, front/rear bumper and on the windshield to give a 360-degree view of the vehicle’s surroundings. Vehicle cameras have numerous benefits such as record road trip memories, unexpected occurrences, rash driving and others. On account of these benefits and rise in awareness, we are expecting huge growth in the vehicle cameras market during the forecast period.

"Multi-Camera System to Emerge as the Market Leader"

Based on the view type, the multi-camera system will emerge as the market leader and will hold more than 50% market share during the forecast period. The multi-view system consists of four cameras mounted in the front, back and two side cameras integrated into the exterior rear view mirrors. Further, with an aperture of 190 degrees each, they capture the vehicle’s entire surroundings to form a 360-degree view. These cameras have numerous benefits such as enhanced parking assistance, avoid collisions, blind spot detection and others. On account of its benefits, we are expecting the multi-camera system to emerge as the market leader throughout the forecast period.

"North America to Lead the Market Throughout the Forecast Period"

In 2020, North America led the market followed by Europe. In 2020, in North America, nearly 36,750 people died due to road accidents. The safety regulations introduced by the government in this region and various insurance schemes such as in-car camera incentive program gives a boost to the market. In North America, people and government want to reduce collision deaths, so they are adopting related safety measures. As a result, the vehicle cameras market is growing. Due to government regulations in Europe and rise in awareness of these cameras in the Asia Pacific, we are expecting huge growth in the region.

Some of the prominent players operating in the vehicle cameras market include Robert Bosch GmbH, Continental AG, Aptiv PLC, Stonkam Co., Ltd., Autoliv Inc, Valeo S.A., Automation Engineering Inc., Mobileye, OmniVision Technologies Inc., Ficosa International S.A., Clarion, Qrontech Co. Ltd., GoPro Inc., DCS Systems Ltd., Transcend Information Inc., Falcon Electronics LLC, Garmin International, Inc and others. and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Vehicle Cameras market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Vehicle Cameras market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Vehicle Cameras market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Vehicle Cameras market?
• Which is the largest regional market for Vehicle Cameras market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Vehicle Cameras market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Vehicle Cameras market worldwide?