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The rising demand for automotive vehicle production across the globe as well as the rising safety norms and regulations by government bodies across the world are positively influencing the growth of the vehicle cameras market. Furthermore, the rising sales of electric vehicles and the increasing integration of safety cameras in modern automotive vehicles is also expected to fast track the growth within the global vehicle cameras market in the near future.
The major types of products offered by the manufacturers functional in the global vehicle cameras market include rear view camera, mono camera, and surround view camera. These products and solutions offered by the leading players in the vehicle cameras market are applied in various types of automotive vehicles, including light commercial vehicles, buses and coaches, trucks, and passenger vehicles (such as sedan, utility vehicles, and hatchback). Key technologies used in these solutions include infrared cameras, digital cameras, and thermal cameras. Based on technology, the thermal cameras account for the highest demand in the vehicle cameras market.
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Based on their price, these solutions in the vehicle cameras market can be segmented into affordable, high end, and mid range vehicle cameras. Some of the major applications for the products and solutions in the vehicle cameras market include driver monitoring systems, night vision systems, pedestrian detection, park assist systems, blind spot detection, adaptive cruise control, and road sign detection, among others. The products in the vehicle cameras market are marketed through two major sales channels, namely, aftermarket as well as original equipment manufacturers or OEM.
Players in Vehicle Cameras Market Engaged in R & D to facilitate New Product Launches
A few of the major incumbent manufacturers and stakeholders operational in the landscape of the vehicle cameras market are Aptiv, Continental AG, DCS Systems, Ltd., GoPro, Inc., Gentex Corporation, Magna International, Inc., Qrontech Co. Ltd., or Lukas, S. Will Industrial Ltd., Valeo S. A., AIPTEK International, Inc., Autoliv Inc., Denso Corporation, Ficosa International S. A., Garmin International Inc., Hyundai MnSoft, Pittasoft Co. Ltd., Robert Bosch GmbH, and Transcend Information, Inc., among others.
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The competitive landscape of the vehicle cameras market is considered to be fragmented, with the presence of a large number of manufacturers accounting for the industry share. The leading players and stakeholders in the vehicle cameras market are focusing their attention on research and development activities, in a bid to develop novel self-driving vehicles that are equipped with numerous next gen sensors and camera components. Some of the major strategies employed by the leading players and stakeholders working in the vehicle cameras market include mergers and acquisitions as well as new product launches.
For example, a new integrated interior sensor solution was launched by the company, Continental AG, in October of 2021. This solution enhances the comfort in automotive vehicles and offers monitoring of the complete vehicle interior in real time. Furthermore, an AI based camera for ADAS or advanced river assistance system was developed by Robert Bosch GmbH in August of 2019.
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Asia Pacific Dominates the Vehicle Cameras Market
Geographically, the major regional industries in the vehicle cameras market include North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. Amongst these, the largest share of the vehicle cameras market was held by the regional industry of Asia Pacific I the recent past. This topmost positioning of the Asia Pacific vehicle cameras market can be attributed to the increasing trend of electrification as well as hybridization in the domain of automotive and transport industry, rising production of the electric vehicles in the region, and the increase in the demand for high-end passenger vehicles that feature enhanced safety features.
Furthermore, the rising number of government policies regarding industrial development as well as the increasing regional population, triggering an increased demand for automotive vehicles is also supplementing the development of the Asia Pacific vehicle cameras market. Europe and North America regions are also anticipated to create substantial opportunities for the development of the vehicle cameras market in the near future.
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