Automotive Camera Market Research Report for 2022 H1

The aim of this report is to evaluate the Automotive Camera market. The scope of the study covers only the passenger vehicles’ on-board camera. In this report, the Automotive Camera market is segmented by type, passenger vehicle’s automation level, and geography. ICV performed the analysis of Automotive Camera market, to offer the market size for above segments.

The Automotive Camera has a fast-growing market because of the rapid rise of the demand on automation-driving passenger vehicles. The automation-driving system consists of perception sensing department, decision-making department, and executing department. Generally, vision system, RADAR system, and LiDAR are three main types of sensors for automation driving. The fusion of multi-sensors is the choice for most automobile manufacturers who are on the track of autonomous passenger vehicles. This report focuses on the vision system, which usually works with RADAR system to catch the environmental information for automation-driving system.

As an automotive electronic component that could be characterized as low-costs and wide-applications, automotive camera has two distribution channels: factory installed and post-factory installed. When analysed the market size of Automotive Camera, ICV counted both of these two distribution channels.

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For the first half of the year of 2022, the global market size was total of $6.55 billion, factory installed cameras accounted for around 77%, while post-factory installed cameras were accounting for 23%. The global market was estimated to be worth $15.2 billion in 2023 and would reach $25.6 billion in 2027. ICV’s analysts forecasted that the proportions of post-factory installed cameras will have a decreasing trend, because of the declines of the sales of the vehicles with automation levels below L2.

ICV classified the Automotive Camera into five different types based on how they work. Surround view camera module usually consists of four individual cameras, they perform viewing work through providing the driver a 360-degree image of outside surroundings. Interior cabin camera works as a driver monitor, aiming to monitor whether the driver is in the normal driving condition. The other three types (rear-view/ front-view/ side-view) are sensing cameras, they usually have better capabilities of capturing and processing images.

Because of the nature of their workings, post-factory installed cameras generally are rear-view camera or front-view camera. ICV didn’t take interior camera into account, as the Dash Camera was thought as the consumer electronic product, rather than automobile electronic.

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As of the first half of 2022, rear-view camera and front-view camera have much higher sales than other three types of cameras, the reason could be the lower penetration rates of vehicles with automation levels of L2 and above. The market size of rear-view camera was $2.4 billion and front-view camera was $2.3 billion. Sales of side-view cameras were $1.1 billion, while sales of surround-view cameras were $808 million. The interior cabin camera has the lowest penetration, resulting in the market size of $7 million. ICV predicted that the penetration of side-view camera, surround camera, and interior cabin camera will have considerable growth rates during the projection period.

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When counted the market size for cameras that were installed in passenger vehicles with different levels of automation, this report considers factory installed cameras only. For the first half of 2022, sales of cameras that were installed in L2 autonomous vehicles were highest. ICV also estimated that, the sales of cameras that are installed in L2 autonomous vehicles will still be highest in the future. The number of on-board cameras per vehicle for L2 vehicles is more than for L0 and L1 vehicles, on the other hand, the proportion of L2 vehicles will be highest among the vehicles sold during the projection period.

In this report, ICV classified the automobile manufacturer into two types: new car-making forces and traditional carmakers. After counting the configurations of almost all well-known new car-making brands, ICV found that the average number of cameras is around 7.9 per vehicle, which is much more than the average number per vehicle of traditional brands. At present, both new forces and traditional manufacturers are competing on the track of autonomous driving, which drives up the demand on the automotive cameras. The scope of geography segmentations covers five countries/ regions as following: China, Europe, America, Africa, and Asia (exclude China), Oceania, and Middle East region (hereinafter referred to as AOME).

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For the first half of 2022, China took the largest piece of Automotive Camera market, the rising of new car-making forces (e.g., NIO, Xpeng, etc.) in China could be a possible main reason, also the sales of passenger vehicles in China that was much higher than other countries over the world. Europe took the second largest market shares among the global market, which was resulted by the cooperation between the European carmakers and the local optical component manufacturers (e.g., BOSCH). The market of America and AOME regions were worth $820 million and $1,288 million respectively. African regions got the smallest market share, with the dollar value of $89 million.