The report presents an in-depth assessment of the Latin America Automotive Camera Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Latin America Automotive Camera investments from 2021 till 2025. This research report also provides post COVID-19 impact analysis of the Latin America Automotive Camera industry.
Latin America Automotive Camera market is growing at a CAGR of 15.83% during the forecast period (2021-2025).
The Latin America Automotive Camera market is highly competitive and consists of a number of major players. Top Companies like Gentex Corporation, Continental AG, Autoliv Inc, Hella KGaA Hueck and Co, Panasonic Corporation, Valeo SA, Magna International Inc, Garmin Ltd
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Scope of the Report
– 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.
Key Market Trends
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.
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.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Latin America Automotive Camera Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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