Global Automotive Camera Cleaning Systems Market 2019-2023| Increasing Demand from Mid and Full-Sized SUVs to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 14, 2019--
The global automotive camera cleaning systems market is expected to post a CAGR of almost 33% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive camera cleaning systems market 2019-2023. (Graphic: Business Wire)
The growing popularity of ADAS technologies such as AEBS has increased the incorporation of cameras in modern vehicles as these technologies are highly dependent on camera input. ADAS features such as lane departure warning and collision avoidance alert require the use of advanced embedded vision technologies including high frame cameras and image processing techniques. The increasing use of camera technology in modern vehicles will necessitate the use of camera cleaning systems for efficient camera operation.
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As per Technavio, the increasing demand for camera cleaning systems for mid and full-sized SUVs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Automotive Camera Cleaning Systems Market: Increasing demand for camera cleaning systems for mid and full-sized SUVs
Growing employment rates and business opportunities have improved the socio-economic conditions of both developed and emerging economies. This has led consumers to opt for luxury vehicles such as mid and full-sized SUVs which offer convenient features along with high comfort and safety. The use of personal vehicles for long distance travel has also increased especially in the emerging economies of APAC. As mid and full-sized cars are preferred for off-roading purposes, the external cameras are constantly exposed to dirt. As a result, prominent automotive companies are providing camera cleaning systems as a key feature in their mid and full-sized SUV product offerings.
“Apart from the increasing demand for camera cleaning systems for mid and full-sized SUVs, stringent regulations with respect to automotive safety will market growth during the forecast period,” says a senior analyst at Technavio.
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Global Automotive Camera Cleaning Systems Market: Segmentation Analysis
This market research report segments the global automotive camera cleaning systems market by application (passenger cars and commercial vehicles) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market. This is due to the strong demand for safety features in vehicles, the increasing adoption of automotive technologies by OEMs, and the presence of a large customer base of early adopters in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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SOURCE: Technavio Research
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PUB: 10/14/2019 05:30 AM/DISC: 10/14/2019 05:30 AM