Increasing vehicle production and sales in emerging Asian economies, such as China and India, are driving the Asia Pacific automotive camera market growth. The increasing penetration of luxury automotive manufacturers, such as MG Motors, Jeep, Audi AG, and BMW AG, is propelling the demand for advanced automotive camera systems. These components are featured in compact and mid-sized vehicles of developed countries such as Australia and Singapore, contributing to market expansion. The increasing advancements in autonomous vehicles are further supporting the adoption of camera systems to enhance the safety features of the vehicle.
The demand for mono camera systems is increasing from mid-sized vehicles due to their various benefits such as night vision, high image resolution, and low cost. The leading automotive camera manufacturing companies are developing mono cameras with advanced technologies, such as machine learning and neural network, contributing to the market growth. The introduction of trifocal camera sensors is further expected to support industry development. Trifocal camera systems offer a wider viewing angle as compared to mono & stereo systems.
The increasing numbers of road fatalities across the region are supporting the adoption of advanced safety features in vehicles, aiding market growth. These sensors are used in emergency braking systems to detect obstacles, warn drivers, or automatically brake to avoid accidents. Additionally, camera systems are also used in advanced parking assist systems to detect suitable parking space and support necessary steering actions.
The major players operating in market are Hitachi Automotive Systems Ltd., Denso Corporation, Clarion Co., Ltd., Robert Bosch GmbH, Veoneer, Continental AG, and Aptiv PLC, among others. The companies are developing technically equipped products to enhance the safety of vehicles. For instance, in January 2018, Denso Corporation developed a new vision sensor that will detect obstacles in low light situations.