LONDON--(BUSINESS WIRE)--The global automotive split-view camera module market is expected to grow at a CAGR of close to 14%, in terms of unit, during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global automotive split-view camera module market for 2016-2020. Based on the vehicle type, the market is divided into two segments: passenger cars and CVs.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive electronics, “The global automotive split-view camera module market is expected to experience strong adoption during the forecast period. The camera modules allow seeing around difficult corners with a 180-degree viewing angle and enable added maneuvering safety in vehicles.”
Earlier, automotive camera modules were largely restricted to the luxury segment vehicles owing to their high costs; however, wide camera application and legislation push have now made automotive cameras available even for the mass segment. “Another aspect boosting the adoption is the effort from aftermarket players in reducing the price of split-view cameras to push original equipment manufacturers toward the adoption of camera module system in the mid segment,” adds Siddharth.
Technavio’s research study segments the global automotive split-view camera module market into the following regions:
Global automotive split-view camera module market by geography 2015
In 2015, EMEA and the Americas were the dominant markets in the global automotive split-view camera market with shares of about 38% and 37%, respectively. Currently, together they account for about 75% of the total market and are expected to continue dominating during the forecast period. The high adoption by these regions is attributed to high penetration of high-end vehicles. However, the Americas is expected to dominate by 2020.
The automotive split-view camera market in APAC is smaller compared with other regions, accounting for about 24% share in 2015. However, it is poised to see higher growth than all other regions during the forecast period.
EMEA: largest automotive split-view camera module market
In 2015, France, Italy, Germany, and the UK were the major contributor to the automotive split-view camera market in Europe. These countries have a high penetration of luxury cars and are experiencing steady growth owing to improvement in the economy.
In terms of units, the automotive split-view camera module market in EMEA was 12.39 million units in 2015, and it is expected to reach 18.02 million units by 2020, growing at a CAGR of 7.77%. In 2015, EMEA was the leading region for the global automotive split-view camera module market.
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Automotive split-view camera module market in Americas
In 2015, the US was the major contributor to the split-view camera market in the Americas. The country is seeing rising demand owing to increased luxury cars adoption by baby boomers. Additionally, legislation plays a pivotal role in the wider application of split-view cameras in the region.
In terms of units, the automotive split-view camera market in the Americas was 12.06 million units in 2015 and it is expected to reach 26.33 million units by 2020, growing at a CAGR of 16.91%.
Automotive split-view camera module market in APAC
China is the dominant country in APAC for the automotive split-view camera module market. We expect APAC to be the fastest-growing region in the global automotive split-view camera module market, which will allow the region to increase its share in the market.
In terms of units, the automotive split-view camera module market in APAC was 7.82 million units in 2015, and it is expected to reach 17.25 million units by 2020, growing at a CAGR of 17.14%.
The top vendors in the global automotive split-view camera module market highlighted in the report are:
- Ford Motor Company
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