Global Vehicle Camera Module market will reach 5712 million US$ by the end of 2024

Publisher: QYResearch
Published Date: 2019/10/15

In the last several years, global market of Vehicle Camera Module developed rapidly, with an average growth rate of 18.04%. In 2018, global revenue of Vehicle Camera Module is nearly 2261 M USD; the actual production is about 88.304 million Unit.

The growth of this market is driven by the growth of automotive production and the development of ADAS technology. The Vehicle Camera Module market is projected to grow at a CAGR of 16.71% from 2019 to 2024, from a market size of USD 2261 million in 2018 to USD 5712 million by 2024.

The global average price of Vehicle Camera Module is in the decreasing trend, in 2018 the average price is 25.60 USD/Unit. With the situation of global economy, prices will be in decreasing trend in the following five years.

The classification of Vehicle Camera Module includes Back Camera, Front Camera and Others. Back Camera accounted for the largest share, about 55.66% of the overall Vehicle Camera Module market, based on type, in 2018. The Back Camera can help drivers parking their cars easily.

Asia Pacific is expected to be the largest market for Vehicle Camera Module during the forecast period. The Vehicle Camera Module market in this region is primarily driven by the growing of new vehicles, especially from China, India, and other Southeast Asian countries.

The Asia Pacific is projected to lead the global market in terms of growth rate. One of the factors for this is the increase in economic growth and rapid urbanization. The growing middle-class population, high spending behavior, and increased demand for private cars drive the growth of the vehicle camera module market.

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