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Global automotive camera market: 34.5% CAGR forecast between 2012-16

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Global Automotive Camera Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-04 14:50:05
The Global Automotive Camera market is to grow at a CAGR of 34.55 percent over the period 2012-2016. One of the key factors contributing to this market growth is the Global Automotive Safety Systems market. The Global Automotive Camera market has also been witnessing the increasing adoption of camera-based advanced driver assistance systems. However, the high cost of automotive camera-based systems could pose a challenge to the growth of this market.

Increasing adoption of camera-based advanced driver assistance systems is one of the major trends which is expected to propel the growth of the Global Automotive Camera market. Camera-based advanced driver assistance systems such as park/reverse advanced driver assistance systems are expected to grow rapidly during the forecast period. Furthermore, the Global Advanced Driver Assistance Systems market was valued at US$5.8 billion in 2012 and it is expected to reach US$13.1 billion by 2016, growing at a CAGR of 22.59 percent. This is expected to boost the demand for cameras in automobiles, leading to the growth of the Global Automotive Camera market.

One of the main drivers in this market is the growth of the Global Automotive Safety Systems market. The increasing demand for safety systems used in automobiles has a direct positive influence on the demand for advanced automotive systems, resulting in increasing demand for automotive cameras.

One of the main challenges in this market is the high cost of automotive camera-based systems. The expensive nature of these systems limits its use to niche vehicles, thus inhibiting the growth of the Global Automotive Camera market.

The key vendors dominating this market space re Continental AG, Delphi Automotive plc, Denso Corp., and Robert Bosch GmbH.

The other vendors mentioned are Aisin Group, Audiovox Corp., Hella KGaA Hueck & Co., Mobileye, TRW Inc., and Valeo SA.

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