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With the growing dependence on video surveillance for safety purposes, the demand for vehicle cameras is expected to grow during the forecast period. The growth of the global vehicle camera market is driven by the constantly increasing population and advancements in complementary metal oxide semiconductor (CMOS) image sensors used in automotive cameras. The changing focus of manufacturers towards replacement of side view mirrors with cameras is another factor behind the growth of the global market. The demand for vehicle camera is also driven due to the various advantages offered by such cameras, especially when used in the case of accidents and theft evidence. Moreover, most automotive cameras are equipped with features, such as G-sensors, global positioning system (GPS), night video recording, and loop recording and high-quality day.
Vehicle cameras are attached to the dashboard of windshield of different vehicles. These are real video recording devices designed to record real-time videos of the outsides and insides of the vehicles. Vehicle cameras are a part of the automotive safety plans and regulations, towards which most of the nations are focused for implementation. In terms of production and sales of automotive vehicles, the passenger car segment holds the largest market share. In 2014, North America accounted for the largest share in the global vehicle camera market, due to high production volume of passenger cars and light commercial vehicles with the growing influence of New Car Assessment Program in this region.
The advancements in various driver assistance and safety systems especially in lane departure warning system (LDWS) and blind spot detection system (BSD) are driving the growth of the global vehicle camera market. The computer-vision-based blind spot detection system uses digital camera imaging technology to sense the presence of vehicles in blind zones, as cameras mounted on, or near the outside rear-view mirror housings on both sides of the vehicle provide views of the blind zones to the system. LDWS warns the driver of a lane departure, when the vehicle's turn signal is not activated and the vehicle is travelling above a definite speed.
The inclination of insurance companies and government towards the installation of vehicle cameras is also driving the growth of the global vehicle camera market. This is due to the fact that video recordings from the cameras of vehicles help insurance companies to block false claims. The growing partnerships with vehicle manufacturers to develop vehicle camera with superior features, such as night vision is expected to boost the growth of the market for vehicle cameras in the near future. However, the government restriction on vehicle cameras in several countries of Europe is expected to hamper the growth of the market. Autoliv Inc., Continental AG, Qrontech Co. Ltd., Ficosa International S.A., KYOCERA Corporation, Transcend Information Inc., Valeo Inc., Robert Bosch GmbH, Delphi Automotive LLP, Media Data Systems Pte Ltd. are some of the major competitors in the global vehicle camera market.
Global Vehicle Camera Market Segmentation:
By End-use Application