The automotive industrial camera market is expected to grow significantly in the coming years owing to the rising demand for automated systems in the automotive industry. The automotive industry is shifting its focus towards automation and smart manufacturing technologies to reduce production costs and improve efficiency. This is fuelling the demand for industrial cameras in the automotive sector.
Automotive industrial cameras are used in various applications such as robot vision, surface detection, welding defect inspection, and others. Robot vision is the largest application segment of the automotive industrial camera market, due to the increasing adoption of robots in automotive assembly lines. Surface detection is the second-largest application segment, due to the growing demand for 3D surface inspection in automotive manufacturing.
The major factors driving the growth of the market are the increasing demand for advanced driver assistance systems (ADAS) and autonomous vehicles, and the need for improved efficiency and productivity in manufacturing processes.
Some of the key benefits of using automotive industrial cameras include:
-They help improve safety by providing a clear view of the surrounding area, which can help avoid accidents.
-They can be used for quality control purposes, by inspecting products for defects or irregularities.
-They can be used to monitor assembly line processes, and identify any issues or bottlenecks.
-They can also be used for security purposes, by monitoring areas for intruders or other suspicious activity.
An automotive industrial camera is type of an imaging device that is used in various automotive applications such as robot vision, surface detection, welding defect inspection, and others. These cameras are used for capturing images of objects or scenes in different lighting conditions. Automotive industrial cameras offer high resolution, wide field-of-view, and high frame rate.
The automotive industrial camera market is projected to grow at a CAGR of 11.6% from 2021 to 2031. The market was valued at USD 1.16 Billion in 2020, and it is expected to reach USD 2.73 Billion by 2031.
The growth of the automotive industrial camera market is attributed to the rising trend of automation in the automotive industry and the increasing focus on quality control and inspection processes in automotive plants.
Some of the key players in the automotive industrial camera market are Basler AG, Datalogic S.p.A., Flir Systems, Inc., KEYENCE Corporation, Omron Corporation, Panasonic Corporation, Sony Corporation, Teledyne Technologies Incorporated, and Toshiba Teli Corporation. These companies have been profiled in the report on the basis of their attributes such as company overview, recent developments, growth strategies adopted by them to sustain their position in this rapidly changing market.
Area Scan cameras to be on top of the market
The area scan cameras segment held the largest share of the automotive camera market in 2018 and is expected to grow at a higher CAGR during the forecast period. This segment includes CMOS area scan cameras and CCD area scan cameras, which are used for applications such as parking assistance, lane departure warning, adaptive cruise control (ACC), traffic sign recognition (TSR), night vision system (NVS), 360-degree view system, and automated highway pilot system (AHPS).
Asia Pacific to dominate the market
The Asia Pacific is estimated to be the largest market for automotive industrial cameras, followed by Europe and North America. The Asia Pacific region is projected to grow at the highest CAGR during the forecast period due to the growing demand for advanced safety features in vehicles and increasing production of vehicles in countries such as China, India, and South Korea. The European region is estimated to be the second-largest market for automotive industrial cameras owing to stringent government regulations regarding vehicle safety and rising demand for luxury cars in this region. North America is projected to be the third-largest market for automotive industrial cameras due to the presence of major players in this region and increasing demand for autonomous vehicles.
Covid-19 Impact & Market Status
The COVID-19 pandemic has had a significant impact on the automotive industry, with production halted globally and sales dropping sharply. The market for automotive industrial cameras is expected to be severely affected in 2020 as a result of the pandemic. However, the market is expected to recover from 2021 onwards as production resumes and sales start to pick up.
In the early stages of the pandemic, there was a significant drop in demand for vehicles as a result of lockdowns and other measures to contain the spread of the virus. This led to a decline in sales and revenues for automotive manufacturers and suppliers. In addition, the pandemic disrupted global supply chains, leading to shortages of parts and materials, which further impacted the automotive market.
However, as the pandemic has continued, there has been a recovery in demand for vehicles, and the market for automotive parts and materials has begun to recover as well. This trend has been supported by the increasing adoption of electric and hybrid vehicles, which has helped to drive demand for advanced materials and technologies.
Latest Innovations in the Global Automotive Industrial Camera Market: A Snapshot
In 2019, BioNTech SE, F. Hoffmann-La Roche Ltd., and Pfizer Inc. entered into a strategic collaboration agreement to jointly develop and commercialize BNT162, BioNTech's mRNA-based vaccine candidate against COVID-19. The BNT162 program comprises of four vaccine candidates that are currently being evaluated in clinical trials around the world in various age groups.
In 2019, Sanofi Pasteur and GlaxoSmithKline plc (GSK) entered into an agreement with the Coalition for Epidemic Preparedness Innovations (CEPI) to advance the development of multiple vaccine candidates against pandemic threats such as avian influenza A H7N9 and A H5N1 viruses. Under this agreement, CEPI will fund up to EUR 190 million for the development of Sanofi Pasteur's influenza A H7N9 vaccine candidate (VRC-AV0652).
In 2019, Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., entered into an agreement with CEPI to accelerate the development of its investigational Ebola Zaire virus vaccine candidate (V920).
Automotive Industrial Camera Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 2.73 Billion|
|Growth Rate||CAGR of 11.6% during 2021-2031|
|Segment Covered||by Type, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Basler AG, Datalogic S.p.A., Flir Systems, Inc., KEYENCE Corporation, Omron Corporation, Panasonic Corporation, Sony Corporation, Teledyne Technologies Incorporated, and Toshiba Teli Corporation|
Key Segment of Automotive Industrial Camera Market
By Type Overview 2021-2031, (USD Billion)
• Area Scan Cameras
• Line Scan Cameras
By Application Overview 2021-2031, (USD Billion)
• Robot Vison
• Surface Detection
• Welding Defect Inspection
By Region Overview 2021-2031, (USD Billion)
• Rest of Asia Pacific
• Rest of North America
• Rest of Europe
Middle East and Africa