Latin America Automotive Camera Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Automotive Camera Market Analysis
The Latin America automotive camera market is expected to register a CAGR of 15.83%, during the forecast period, 2020-2025.
- Increase in demand for automobiles, increasing concern for safety among customers, mandatory government norms, advanced innovations, rapid adoption of ADAS and availability of low-cost parking cameras and sensors in aftermarket are some of the major drivers of growth of Automotive Camera market.
- However, high cost of the module has been slightly hindering the market growth. ADAS like Adaptive cruise control (ACC), Forward Collision Warning System (FCWS) and Automatic Emergency Braking (AEB) requires 3 to 6 cameras to be installed on the vehicle. These cameras in an automotive cost almost 8 times the module in a mobile phone camera, making it a challenge for entry into the market.
- Thermal camera and multi camera systems are expected to exhibit the highest growth rate in sensing camera and application segments during the forecast period.
- Latest advancements in the camera technology such as 360 degrees camera that stitch the images from multiple cameras and display a consolidated image on split screen and mass production of these units are expected to bring down the price drastically, creating a scope of venture in the sector.
Latin America Automotive Camera Market Trends
This section covers the major market trends shaping the Latin America Automotive Camera Market according to our research experts:
Sensing Camera to Witness the Fastest Growth
Systems using cameras for remote sensing are gradually becoming an integral part of an active safety system in vehicles. Sensing cameras provide a higher level of performance than general-purpose driving cameras, while also meeting the required automotive quality standards as cost-effective solutions. These are intelligent safety systems with two key components: the remote sensors (using remote sensing technologies) and the processing computer. A remote sensor is a device that collects data about real-world conditions through sensors, such as radar, ultrasonic sensors, and cameras. The processing computer receives data from these cameras and sensors then make the decision and sends commands to the vehicle subsystems.
With the increasing adoption of ADAS features in vehicles, the demand for cameras has been increasing significantly. Owing to the aforementioned trends, the number of automotive camera shipments is expected to exceed 170 million units in the global market by 2020 and the ADAS camera market is expected to cross USD 7 billion by 2021.
Mexican market has the fastest growth rate
Latin America region comprises of geographies such as Mexico, Brazil, Argentina where the disposable income of customers is increasing. Despite the aforementioned factor, automotive sales (especially passenger cars) have declined in 2019 but the market is expected to show a good growth rate in the coming years. In Latin America, the ADAS market is exhibiting a growth rate of 20.01% due to a faster adoption rate among customers. Various OEMs are now introducing parking assist systems (earlier installed in luxury segment cars only) in mid and small segment cars to create a point of differentiation from other OEMs. Another factor that is boosting the growth of the automotive camera market is the presence of a large number of equipment manufacturers in the region. Manufacturers have achieved economies of scale and are producing devices at a cheaper rate. There are numerous active players in the aftermarket.
Latin America Automotive Camera Industry Overview
The Latin America automotive camera market is highly fragmented, due to the presence of many regional players. However, some of the major players, like Garmin Ltd, Panasonic Corporation, Continental AG, Autoliv Inc., and Magna International, among others, have captured significant shares in the market. These companies are focusing on strategic collaborative initiatives to expand their market shares and profitability. For instance, in January 2018, Garmin, with support from Amazon Alexa, has launched Garmin Speak Plus, by adding a built-in dash camera to its innovative Garmin Speak.
Latin America Automotive Camera Market Leaders
-
Garmin Ltd
-
Continental AG
-
Panasonic Corporation
-
Magna International Inc
-
Bosch Mobility Solutions
*Disclaimer: Major Players sorted in no particular order
Latin America Automotive Camera Market Report - Table of Contents
-
1. INTRODUCTION
-
1.1 Study Assumptions
-
1.2 Scope of the Study
-
-
2. RESEARCH METHODOLOGY
-
3. EXECUTIVE SUMMARY
-
4. MARKET DYNAMICS
-
4.1 Market Drivers
-
4.2 Market Restraints
-
4.3 Porters Five Force Analysis
-
4.3.1 Threat of New Entrants
-
4.3.2 Bargaining Power of Buyers/Consumers
-
4.3.3 Bargaining Power of Suppliers
-
4.3.4 Threat of Substitute Products
-
4.3.5 Intensity of Competitive Rivalry
-
-
-
5. MARKET SEGMENTATION
-
5.1 Vehicle Type
-
5.1.1 Passenger Vehicle
-
5.1.2 Commercial Vehicle
-
-
5.2 By Type
-
5.2.1 Viewing Camera
-
5.2.2 Sensing Camera
-
-
5.3 By Application
-
5.3.1 Advanced Driver Assistance Systems
-
5.3.2 Parking
-
-
5.4 Geography
-
5.4.1 Brazil
-
5.4.2 Mexico
-
5.4.3 Argentina
-
5.4.4 Rest of Latin America
-
-
-
6. COMPETITIVE LANDSCAPE
-
6.1 Vendor Market Share
-
6.2 Company Profiles
-
6.2.1 Gentex Corporation
-
6.2.2 Continental AG
-
6.2.3 Autoliv Inc
-
6.2.4 Hella KGaA Hueck & Co
-
6.2.5 Panasonic Corporation
-
6.2.6 Robert Bosch Gmbh
-
6.2.7 Valeo SA
-
6.2.8 Magna International Inc
-
6.2.9 Garmin Ltd
-
-
-
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Automotive Camera Industry Segmentation
The Latin America automotive camera market covers the latest trends and technological development in the automotive camera market, demand of the vehicle type, camera type, application type, and market share of major automotive camera producing companies across the region.
| Vehicle Type | |
| Passenger Vehicle | |
| Commercial Vehicle |
| By Type | |
| Viewing Camera | |
| Sensing Camera |
| By Application | |
| Advanced Driver Assistance Systems | |
| Parking |
| Geography | |
| Brazil | |
| Mexico | |
| Argentina | |
| Rest of Latin America |
Latin America Automotive Camera Market Research FAQs
What is the current Latin America Automotive Camera Market size?
The Latin America Automotive Camera Market is projected to register a CAGR of 15% during the forecast period (2024-2029)
Who are the key players in Latin America Automotive Camera Market?
Garmin Ltd, Continental AG, Panasonic Corporation , Magna International Inc and Bosch Mobility Solutions are the major companies operating in the Latin America Automotive Camera Market.
What years does this Latin America Automotive Camera Market cover?
The report covers the Latin America Automotive Camera Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Automotive Camera Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Automotive Cameras Industry Report
Statistics for the 2024 Latin America Automotive Cameras market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Latin America Automotive Cameras analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
