Automotive Camera Module Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

By Type :

Based on the type, the market is segregated into Single View Camera and Multi View Camera. The Single View Camera segment accounted for the major market share in the year 2022. As per the analysis, the single view camera provides parking assistance to avoid collisions. Thus, the increasing installation of single view cameras including rear view camera and front view camera is driving the development of single view camera segment in automotive camera module market.

The Multi View Camera segment is anticipated to register the fastest CAGR expansion during the forecast period. The multi view camera provides a complete 360° view around the entire vehicle. Additionally, based on the analysis, a multi view camera is used for blind spot mitigation and emergency braking system. Therefore, increasing adoption of multi view camera for advanced features is propelling the development of multi view camera segment.

By Module Type :

Based on the Module Type, the market is classified as Thermal, Infrared, and Digital. The Thermal segment accounted for the largest revenue share in the year 2022. Rising technological developments for improved driving safety are driving the development of thermal segment in automotive camera module market. For instance, EX-VI Thermal Camera offered by Zhejiang Dali Technology Co., Ltd., has an intelligent assistance system for night-time driving. Additionally, the EX-VI Thermal Camera has the ability to identify vehicles and pedestrians and provide early warning system.

The Infrared segment is anticipated to witness the fastest CAGR during the forecast period. Based on the analysis, the increasing adoption of luxury vehicles with advanced features is promoting the development of infrared segment in automotive camera module market. Additionally, the infrared camera module provides early detection of obstacles in complete darkness resulting to increase the requirement for infrared segment.

By Vehicle Type :

Based on the Vehicle Types, the market is classified into Passenger Cars, Commercial Vehicles, and Electric Vehicles. The passenger cars segment accounted for the largest revenue share in the year 2022. The increasing adoption of luxury vehicles is propelling the expansion of passenger cars segment in automotive camera module market. Moreover, the increasing trend of 360-degree compact cameras for collision warning, lane departure warning, blind sport detection, and others are driving the development of passenger cars. Furthermore, as per the analysis, the increasing technological developments in automotive sector are driving the requirement of camera modules to provide enhance the safety systems, resulting in the expansion of passenger cars segment in automotive camera module market. For instance, M3S/M6S Infrared Night Vision Camera for Cars offered by IRay Technology Co., Ltd., has intelligent recognition system developed for ADAS and autonomous driving application. Additionally, the camera provides pedestrian recognition and early safety warning to avoid collisions.

The electric vehicles segment is anticipated to witness the fastest CAGR during the forecast period. The increasing automation and technological developments are propelling the development of electric vehicles segment in automotive camera module market. Additionally, growing environmental concern is driving the requirement of electric vehicles, resulting in propelling the development of electric vehicles segment.

By Distribution Channel :

Based on the Distribution Channel, the market is categorized as OEM and Aftermarket. The Aftermarket segment accounted for the major market share in the year 2022 and is also projected to grow with the fastest CAGR during the forecast period. Aftermarket offers cost effective products, resulting in the expansion of aftermarket segment in market. The increasing adoption of camera modules for enhanced safety systems is driving the expansion of the aftermarket segment. Additionally, growing technological advancements in the automotive sector are promoting the expansion of the aftermarket segment.

By Application :

Based on the application, the market is classified as ADAS, Parking Assistance, Blind Spot Detection, Emergency Braking, Lane Departure Warning, and Others. The ADAS segment accounted for the largest revenue share in the year 2022 and is also expected to grow with the fastest CAGR during the forecast period. The automotive camera modules are widely used for ADAS to provide improved safety systems. For instance, Jabil Optics offered automotive imaging solutions, enabling driver monitoring, surround view, and advanced driver assistance systems (ADAS) applications. The superior camera comprises of various features including LED flicker mitigation, glass optics for high resolution, back side illumination, and others. Additionally, increasing requirement for advanced safety systems is promoting the growth of ADAS in automotive camera module market. Moreover, growing adoption of electric vehicles and driverless vehicles are propelling the development of advanced driver assistance systems (ADAS).

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of 33.98% in 2022. The increasing technological advancements, including implementation of ADAS within hybrid and electric vehicles to minimize the risk of accidents are driving the development in the region. Additionally, the growing trend towards gradual implementation of autonomous driving vehicles is further promoting the development of automotive camera module industry. Moreover, the increasing requirement towards improved safety among electric vehicles in the region, in turn boosting the adoption and automotive camera module market trends.

The Asia-Pacific region is anticipated to witness the fastest CAGR of 14.4% to grow from USD 741.11 million in the year 2022 to USD 2,123.87 million in 2030. In addition, in the region, China accounted for the maximum automotive camera module market share of 29.4% in the same year. Based on the automotive camera module market analysis, growing technological advancements in the automotive sector including improvement in camera module with integration of artificial intelligence, parking assistance, driving assistance, and others are boosting the development of the market in the region. For instance, the 1080P Waterproof IP Camera offered by STONKAM CO., LTD., is an intelligent IPC with digital transmission technology. The camera has a 130 degree wide viewing angle with ability to avoid blind spots and collisions. Additionally, rising environmental concern is driving the adoption of electric vehicles, resulting in propelling the development of the market in Asia Pacific region. Furthermore, increasing technological developments in the automotive industry and growing adoption of electric vehicles are propelling the development and trends of the market.