South Korea Automotive Camera Market - Growth, Trends, and Forecasts (2020 - 2025)
|出版商||Mordor Intelligence Pvt Ltd||商品編碼||964759|
|出版日期||內容資訊||英文 80 Pages
|韓國的汽車用相機市場-成長，趨勢，及預測(2020年∼2025年) South Korea Automotive Camera Market - Growth, Trends, and Forecasts (2020 - 2025)|
|出版日期: 2020年08月01日||內容資訊: 英文 80 Pages||
The South Korea automotive camera market is expected to register a CAGR of 15.83%, during the forecast period, 2020 - 2025.
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 makes 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.
South Korea market has the fastest growth rate
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 South Korea, 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.
The South Korea 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.