North America Automotive Camera Market Forecast 2021-2028
The North America automotive camera market is evaluated to develop with a CAGR of 13.94% in terms of revenue and 18.74% in terms of volume during the forecast years of 2021 to 2028. The regional market’s growth is essentially accredited to the surging adoption of autonomous vehicles, the increased number of collaborations, mergers, acquisitions, and partnerships between local companies, and the rising sales of dashboard cameras for surveillance.
The North America automotive camera market growth assessment includes the analysis of the United States and Canada. As a significant contributor to Canada’s economy, government policies essentially focus on the development of the automotive industry. In this regard, the Automotive Innovation Fund (AIF) contributed $102 million to Canada’s Ford Motor Company (FMC). The expansion and financing of the country’s Ford Motor Company are set to encourage clean and advanced technology, thereby facilitating the automotive camera market growth.
Presently, Ontario is the only state in Canada permitting autonomous vehicle testing on public roads. Other provinces are against the same since the testing jeopardizes the safety of pedestrians. As a result, the conflict of opinions among different states considerably impacts the adoption of autonomous vehicles in Canada. Moreover, as camera technologies’ major application is within the driverless car segment, their market growth has also acquired an inevitable blow. Therefore, the factors mentioned above play an essential role in influencing the automotive camera market growth in Canada during the forecast period.
Leading firms operating in the market include OmniVision Technologies Inc, Denso Corporation, etc.
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