LONDON--(BUSINESS WIRE)--Aug 17, 2018--The global automotive stereo camera market is expected to post a CAGR of nearly 16% during the period 2018-2022, according to the latest market research report by . However, the growth momentum of the market is expected to decelerate due to a decline in the year-over-year growth.
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Technavio has published a new market research report on the global automotive stereo camera market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand for automotive safety solutions. Increasing concerns about vehicle safety are one of the key drivers for the development of advanced automotive safety systems. The demand for safety features like ACC system, lane assists systems, FCW systems is increasing at a rapid rate owing to the increasing accident rate. As all these systems are integrated with stereo cameras, any increase in their demand will directly impact the growth of the global automotive stereo camera market. Off late, these advanced systems are not confined just to the premium segment vehicles. With growing awareness of safety systems and technologies, the demand for installation of such system is increasing in all vehicle segments.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights ADAS’s shift from mono to stereo cameras as one of the key emerging trends in the global automotive stereo camera market:
Global automotive stereo camera market: ADAS witnessing shift from mono to stereo cameras
ADAS essentially consists of sub-systems and features that work independently or are combined to provide assistance that is not only confined to safety but spans over comfort and convenience features as well. The ADAS landscape is ever-changing with constant changes engendered by the advances in automotive and non-automotive electronics, along with the advent of smart and enhanced algorithms that are constantly in search of near-human intelligence. This has led to a shift from monocular cameras to stereo cameras, which earlier transited from radar-based to camera-based systems.
“AEBS is becoming a prime ADAS application owing to less response time for driver in an application like FCW. The advantage of a stereo camera in the AEBS market is a positive factor for the future growth of the global automotive stereo camera market,” says a senior analyst at Technavio for research on automotive electronics.
Global automotive stereo camera market: Segmentation analysis
This market research report segments the global automotive stereo camera market by application (passenger cars and commercial vehicles) and geographical regions (APAC, EMEA, and the Americas).
The passenger cars segment held the largest market share in 2017, accounting for nearly 90% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of nearly 44%. However, by 2022, EMEA is expected to surpass the Americas to become the leading region in the market.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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