London, May 05, 2023 (GLOBE NEWSWIRE) -- Fairfield Market Research uncovers the growth pattern of the global automotive camera cleaning system market in a newly published study that reports a stellar outlook for the market in near term. While growing emphasis on vehicle safety primarily drives the growth of this market, increasing concerns around the safety of drivers, as well as passengers is also likely to propel the market revenue ahead, says the report. Up from the revenue worth US$420 Mn recorded in 2022, the automotive camera cleaning system market is expected to reach in excess of US$ US$1,587.5 Mn toward the end of forecast year, i.e., 2029.
Key Research Highlights
- Between 2022 and 2029, the automotive camera cleaning system market revenue is poised to see 20.9% growth in revenue
- Fixed nozzle technology remains the most sought-after category with more than 53% market share
- Europe, and North America collectively account for over 30% of the total demand for automotive camera cleaning systems
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Insights into Segmental Analysis
With more than 53% share of the total market revenue, the fixed nozzle type segment continues to lead the global automotive camera cleaning system market. The affordable price point, and user-friendly features of this nozzle type will continue to underpin the dominance of this segment throughout the period of forecast. Based on the application, the automotive camera cleaning system market report uncovers the fact that the parking application continues to be the most significant revenue contributor. The other key application segments covered in the report include night vision system, front safety monitoring system, central monitoring system, interjection camera, and mirrors. In terms of sales channel, OEMs remain the prime revenue generating segment, whereas the aftermarket sales remain dampened by the lesser consumer confidence in third-party deals.
Key Report Highlights
- Consistently rising need for higher operational accuracy will create opportunities for providers of sensors, as well as advanced solutions like automotive camera cleaning systems
- Unprecedented growth in adoption of vehicles with advanced driver assistance systems (ADAS) will favour market expansion
- The expensive price point has been limiting the pace of commercialization, which is likely to remain a key impediment facing automotive camera cleaning system market
Insights into Regional Analysis
The developed western regions remain at the forefront and the report attributes this to the stringent regulatory standards that predominantly compel automakers to equip vehicles with ADAS sensors. As these sensors require cleaning, though periodically, this remains a strong push factor for the overall performance of automotive camera cleaning system market across these regions. North America, and Europe account for a collective market value share of more than 30%. The role of vehicle safety guidelines will remain crucial in the market build-up across these regions through the long term, says the report. Soaring popularity of feature-rich cars is also likely to shape the market here. On the other hand, Asia Pacific has been highlighted as a high-potential market space though it continues to struggle with the high price challenge.
Key Players in Automotive Camera Cleaning System Market
Continental AG, Denso Corporation, Ficosa Internacional SA, dlhBOWLES, Panasonic Corp., MS FOSTER & ASSOCIATES, INC., KAUTEX TEXTRON GMBH & CO. KG, MAGNA ELECTRONICS INC., Valeo SA.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2022 – 2029 | |
| Market Size in 2022 | US$420 Mn | |
| Estimated Market Size in 2029 | US$1,587.5 Mn | |
| CAGR | 20.9 % | |
| Key Players | Continental AG, Bosch, Valeo SA, Hella GmbH & Co. KGaA, Denso Corporation, dlhBOWLES, Ficosa Internacional SA (Stand Alone), Kautex Textron GmbH & Co. KG, Magna Electronics Inc., MS Foster & Associates Inc., Panasonic Corp. | |
Global Automotive Camera Cleaning System Market is Segmented as Below:
By Vehicle Coverage
- Passenger Vehicles (PV)
- Entry
- Mid-Size
- Premium/ Luxury
- Commercial Vehicles (CV)
By Nozzle Coverage
- Fixed Type
- Telescopic Type
- Nano Type
By Application Coverage
- Parking
- Front Safety Monitoring
- Interjection
- Night Vision
- Mirror
- Central Monitoring System (CMS)
By Sales Channel Coverage
- OEM
- Aftermarket
By Geographical Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Continental AG
- Denso Corporation
- dlhBOWLES
- Ficosa Internacional SA
- KAUTEX TEXTRON GMBH & CO. KG
- MAGNA ELECTRONICS INC.
- MS FOSTER & ASSOCIATES, INC.
- Panasonic Corp.
- Shenzhen Mingshang Industrial Co., Ltd.
- Valeo SA
Inside This Report You Will Find:
1. Executive Summary
2. Automotive Camera Cleaning System Market Outlook
3. Global Automotive Camera Cleaning System Market Outlook, 2018 - 2029
4. North America Automotive Camera Cleaning System Market Outlook, 2018 - 2029
5. Europe Automotive Camera Cleaning System Market Outlook, 2018 - 2029
6. Asia Pacific Automotive Camera Cleaning System Market Outlook, 2018 - 2029
7. Latin America Automotive Camera Cleaning System Market Outlook, 2018 - 2029
8. Middle East & Africa Automotive Camera Cleaning System Market Outlook, 2018 - 2029
9. Competitive Landscape
10. Appendix
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/automotive-camera-cleaning-system-market/more-information
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