Automotive Camera and Integrated Radar and Camera Market to hit USD 10.1 billion by 2026 - Global Insights on Trends, Regulatory Landscape, COVID-19 Impact Analysis, Strategic Initiatives, Growth Drivers, and Future Outlook

Automotive Camera and Integrated Radar and Camera Market with COVID-19 Impact Analysis, by Type (Automotive Camera, Integrated Radar and Camera), Application (ADAS, Park Assist), View Type, Vehicle Type, and Geography – Global Forecast to 2026

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#Key market players: Aptiv PLC (Ireland), Nidec Corporation (Japan), Robert Bosch GmbH (Germany), Intel Corporation (US), Infineon Technologies AG (Germany), ZF Friedrichshafen (Germany), Continental AG (Germany), Valeo SA (France), Magna International (Canada), and Veoneer Inc. (Sweden) are some of the major players in automotive camera and integrated radar and camera market.

“Automotive camera and integrated radar and camera market is projected to grow at a significant rate from 2021 to 2026.”

The global automotive camera and integrated radar and camera market size is projected to grow from USD 6.1 billion in 2021 to USD 10.1 billion by 2026; it is expected to grow at a CAGR of 10.5% from 2021 to 2026. The growth of the automotive camera and integrated radar and camera market is majorly driven by increasing consumer demand for advanced security systems, rising demand for vehicle safety systems for premium segment vehicles, and increasing number of regulations mandating safety features in vehicles.

The pandemic has affected the growth of the automotive camera and integrated radar and camera industry since its emergence in early 2020. The automotive sector is facing heat amid a sharp decline in production and sales of vehicles. Continuous lockdown in several countries has affected cross-border trades, resulting in increased prices of raw materials. The prominent players across industries have been affected by this pandemic. The foreseeable decline in the growth of applications may have a considerable direct impact on the automotive camera and integrated radar and camera market.

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“Integrated radar and camera expected to grow at the highest rate during the forecast period.”

The integrated radar and camera segment is expected to register a higher growth rate during the forecast market. It is currently a niche market. An integrated radar camera system includes camera and radar components housed in a single module. The module can be employed in a vehicle for safety applications such as ACC, forward collision warning (FCW), collision mitigation or avoidance via autonomous braking, and LDW. The integration of the camera and the radar into a single module results in a reduction in sensor costs. Additionally, camera and radar integration employ common or shared electronics and signal processing. With the increasing adoption of ADAS, the integrated radar and camera market is expected to witness significant growth in the coming years.

“ADAS application is expected to grow at the highest CAGR during the forecast period.”

The ADAS segment is projected to grow at a higher CAGR during the forecast period. Increasing awareness about vehicle safety ratings and decreasing component costs due to extensive adoption of cameras and radars will fuel the automotive camera and integrated radar and camera market for ADAS. Major OEMs are embracing ADAS solutions to achieve higher safety ratings to attract more consumers. Leading OEMs either standardize safety systems across models or offer them as additional features. Thus, the increasing penetration of ADAS features will boost the demand for components such as automotive cameras, integrated radar and camera systems, receivers, transmitters, and system-on-chip (SoC) during the forecast period. The market’s growth is driven by factors such as the rising adoption of ADAS in vehicles by different automobile OEMs, growing push through government mandates to introduce advanced safety features in vehicles, increasing level of vehicle autonomy, surging demand for safety features in vehicles by end users, and rising number of cameras adopted per vehicle.

“APAC is projected to grow at the highest CAGR during the forecast period.”

Automotive camera and integrated radar and camera market in APAC is expected to grow at the highest CAGR during 2020−2025. The latest technological breakthroughs have facilitated advancements in automotive cameras and integrated radar and camera systems that can make various processes in commercial and passenger vehicles more efficient and significantly enhance accuracy in various applications As a result, a number of manufacturers based in the region are investing in research and development activities for automotive camera and integrated radar and camera devices. APAC is leading region for passenger vehicle production, and rising adoption of cameras in vehicles for various applications is expected to drive the growth of market.

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