LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global automotive stereo camera market to grow to 4.33 million units by 2021, at a CAGR of close to 24% over the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global automotive stereo camera market for 2017-2021. To determine the market size, the study considers revenue generated from the sales of automotive stereo cameras across various geographical segments.
|The automotive stereo camera is used to recognize other vehicles or pedestrians and provide sufficient time for other active safety systems to act effectively. The global automotive stereo camera market is currently witnessing the quickest growth in EMEA, driven by the rising adoption of advanced driver assistance systems and the thriving automotive industry.|
Request a sample report: http://www.technavio.com/request-a-sample?report=57062
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio analysts highlight the following three factors that are contributing to the growth of the global automotive stereo camera market:
- Capability of stereo camera to reduce emergency response time
- Legislation to push stereo camera adoption
- Economies of scale benefits due to wide application of stereo cameras
Capability of stereo camera to reduce emergency response time
“Automotive manufacturers are increasingly integrating preventive safety technologies, which identify potential hazards and support safe driving. The adoption of stereo cameras greatly improves the response times of emergencies, thereby leading to their increased adoption,” says Neelam Barua, a lead analyst at Technavio for automotive electronics research.
The stereo camera makes an ideal fitment for increasing the effectiveness of driver assist system. The presence of two lenses provides seamless recognition of obstacles and makes emergency braking initiation more precise. Such advantages are driving the increasing adoption of these systems in the automotive sector.
Legislation to push stereo camera adoption
Automotive advanced safety systems such as lane departure warning system (LDWS), night vision system (NVS), and blind spot detection (BSD) helps in minimizing the number of injuries and fatalities by enhancing the overall safety of the vehicle. This has led the governments to implement stringent safety regulations, which mandate the adoption of these systems in vehicles. The continued government emphasis underlining the need for the adoption of automotive safety systems in vehicles will create a steadily rising demand for car stereo cameras over the forecast period.
Economies of scale benefits due to wide application of stereo cameras
“Manufacturers capitalize on the economies of scale to leverage the latest technology to increase market penetration and sales. The automotive segment has effectively capitalized the reduced-price point of high-quality cameras by utilizing stereo cameras for a wide variety of applications,” says Neelam.
The price of the cameras adopted for car stereo systems mainly reduced with its wide adoption in the consumer electronics sector, thereby benefitting the automotive sector. Also, the addition of multiple cameras into a single automotive will also drive its increased adoption. Hence, economies of scale will drive the global automotive stereo camera market over the forecast period.
Browse Related Reports:
- Global Automotive Intelligent Tires Market 2017-2021
- Global Automotive Resonator Intake Ducts Market 2017-2021
- Global Automotive Cylinder Head Market 2016-2020
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like automotive manufacturing, automotive services, and powertrain. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
If you are interested in more information, please contact our media team at email@example.com.