The global automotive surround view systems market grew at a CAGR of 12% during 2014-2019. Automotive surround view systems refer to intelligent camera systems which provide a complete 360° view of the vehicle on an LCD screen that is placed on the dashboard. These systems play an important role in assisting the driver during parking and maneuvering the vehicle. They also offer other benefits such as enabling the driver to get a sharp view on all sides; removing the blind spots; lowering distractions of the driver and improving traffic safety. Over the years, these systems have evolved from low-resolution to high-resolution cameras, providing real-time bird’s-eye view of the vehicle and its surroundings. These advantages have significantly contributed to the installation of these systems in modern automobiles. Looking forward, IMARC Group expects the global automotive surround view systems market to continue its strong growth during the next five years.
Advancements in the automotive advanced driver assistance systems (ADAS) technologies have led to an increase in the sales of automotive surround view systems. the manufacturers have increased research and development to develop surround view systems with higher accuracy and advanced features. For instance, they are offering sonar-based systems that judge the distance between obstacles and give the user a warning when an object comes near another object.
IMARC Group’s latest report provides a deep insight into the global automotive surround view systems market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the automotive surround view systems market in any manner.
The report has also analysed the competitive landscape of the market with some of the key players Valeo, Magna International, Continental AG, Clarion, Denso, Renesas Electronics, Aisin Seiki, Texas Instruments, Ambarella, Bosch Mobility Solutions, Xylon – logicBRICKS, Renesas Electronics, Mobileye, etc.
Key Questions Answered in This Report:
The global automotive surround view systems market was worth US$ 6.3 Billion in 2019.
The increasing number of road injuries and several initiatives undertaken by governments of various countries to improve road safety are bolstering the market growth.
The developments in the automotive advanced driver assistance system (ADAS) technology represent the primary market trend. Moreover, leading players are investing in extensive research and development (R&D) activities to introduce surround view systems with advanced features and higher accuracy.
Due to the coronavirus disease (COVID-19) and the increasing adoption of social distancing measures in numerous countries, automotive manufacturing plants have been shut down. This has led to a decline in the vehicle sales, which, in turn, is creating a negative impact on the market.
The global automotive surround view systems market is expected to reach US$ 10.2 Billion by 2025.
Based on the type, the market is categorized into the touch screen, infrared remote, and other controls.
On the basis of the functioning, the market is categorized into the automatic and manual segments. At present, the manual segment exhibits a clear dominance in the market.
Based on the vehicle type, the market has been segmented into commercial and passenger vehicles. Passenger vehicles currently account for the majority of the total market share.
The original equipment manufacturers (OEMs) represent the largest end user, followed by aftermarket.
Region-wise, Europe holds the leading position in the market. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
The leading players operating in the industry are Valeo SA, Magna International Inc., Continental AG, Clarion Co. Ltd., Denso Corporation, Renesas Electronics Corporation, Aisin Seiki Co. Ltd., Texas Instruments Incorporated, Ambarella International LP, Robert Bosch GmbH, Xylon d.o.o, and Mobileye Technologies Ltd.
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