Automotive Camera Market Share

APAC Market Forecast

The Asia Pacific automotive camera market is anticipated to account for 35% of the revenue share during the forecast period. In terms of production and sales, the main contribution from passenger cars and motor vehicles is made in particular by countries like China, South Korea and Japan which have a dominant position on the global market. China's car industry is produced around 23.8 million passenger cars in 2022. In addition, foreign original equipment manufacturers operating in these countries have increased production capacity and are expected to start introducing their current and future vehicle models which enable the use of advanced car camera based systems. New markets are likely to be opened up by the growing number of people, per capita income and change in consumers' preferences for an increased use of advanced driver attention system technology in current vehicles in the region.

North American Market Statistics

The North America region is expected to account for 28% share of the global automotive camera market during the forecast period. Demand in this region is expected to increase during the forecast period as a result of rising demand for luxury vehicles in North America, Canada, and Mexico coupled with increasing ADAS installation in commercial vehicles and passenger cars. The growth of the market for automotive cameras, which in turn contributes to strengthening the target markets across the region, is another driving factor behind increasing consumer demand for active safety systems. For instance, as part of an effort to cope with a growing demand for digital cameras from customers, Magna set up its new USD 50 million manufacturing facility at Flint, Michigan during August 2019.