China Research and Intelligence Co., Ltd. (CRI)
China's automobile industry has been growing rapidly since China joined the WTO. From 2009 to 2017, China's automobile sales and production volume ranked the first in the world for nine consecutive years. In 2017, the automobile production reached 29.02 billion and the automobile sales were approximately 29 million, both accounting for over 30% of the global market. In recent years, Internet of Vehicles and autopilots have become new trends in the automobile industry and are seeing a fast expansion in market size with the development of mobile Internet, Internet of Things etc. A car camera is an important access to information processing of Internet of Vehicles and an important sensor of the advanced driver assistance system (ADAS). China‘s car camera industry is developing rapidly and is expected to become one of the fastest growing markets in the world in the coming years.
As the physical terminal of automotive vision, a car camera is like a drivers' eyes and is the focus of future development of driverless cars. After the lens collect an image, the photosensitive component circuit and the control component in a camera process the image and convert it into a digital signal that can be processed by computer so as to achieve road conditions perception and implement ADAS functions such as forward collision warning, lane departure warning and pedestrian detection.
A car camera is composed of lens, DSP, CMOS chip and module package. Car cameras have a more sophisticated technical process and require more reliability and safety than mobile phone cameras, which forms a high technological barrier. Meanwhile, a stable supply chain has been formed as the car cameras' access to market is time consuming, which makes it more difficult for new enterprises to enter the industry. At present, the car camera market except lens is almost monopolized by foreign manufacturers and is in fierce competition. However, traditional automakers, smartphone manufacturers and Internet giants are all seeking opportunities to enter the car camera industry considering the broad prospect of the industry. The enterprises in the industry are speeding up research and development and the mastery of core technologies. They are expected to gain discourse power on the market and do a better job in cost control in the future.
Technological and cost advantages promote wide application of car cameras in Internet of Vehicles, driverless cars and vehicle monitors. In addition, the government's stronger policy support to core technologies of automotive electronics presents huge market potential which is a major driving force for the industry development. With the growing supply and maturing technical process, the average price of cameras will further decrease in the future. It is expected that the market size of ADAS will exceed CNY 140 billion in 2022. And Internet of Vehicles will achieve explosive growth at an annual growth rate over 40% with market size exceeding CNY 60 billion in 2022. The car camera industry, a hotspot in ADAS and Internet of Vehicles, is developing fast and will see a market size over CNY 8 billion in China in 2022.