Stratview Research releases a new report on the Automotive Camera & Camera Module Market that shows lucrative growth opportunities in the global industry during the next five-year period. This report ensures reliable information related to the present and future market trends. The following summary will give an overview of the challenges, dynamics, and more details mentioned in the report.
Global Automotive Camera & Camera Module Market Forecast:
The Automotive Camera & Camera Module Market is estimated to grow from USD 1.4 billion in 2020 to USD 4.4 billion by 2026 at a healthy CAGR of 21.5% during the forecast period.
The following are some of the key players in the Automotive Camera & Camera Module Market:
- Robert Bosch GmbH (Germany)
- Delphi Automotive PLC (Ireland)
- Valeo (France)
- Mobileye (Israel)
- Autoliv Inc. (Sweden)
- Continental AG (Germany)
- Omnivision Technologies Inc. (US)
- Magna International Inc. (Canada)
- AEI Inc. (US)
- Stonkam (China).
COVID-19 Impact on Global Automotive Camera & Camera Module Market
The COVID-19 pandemic is likely to favorably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and are promoting social distancing measures. Strict restrictions on the movement of people are further expected to negatively impact land-based casino operations.
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Automotive Camera & Camera Module Market Segmentation:
Based on vehicle type, the automotive camera & camera module market is categorized into compact passenger cars and commercial vehicles. The passenger cars segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to the increasing adoption of automotive camera modules, installed in the front, rear, and inside of automobiles, to deliver safety to passengers, thereby bolstering the segment growth.
By region, the European market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of product manufacturers in Germany, the UK, France, and Ireland. Also, the region is an automotive hub and is equipped with the manufacturing of high-end passenger cars, which further proliferates the regional market growth.
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Stratview Research is a global market intelligence firm helping its clients tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.