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According to the estimates by IMARC Group, the global automotive surround view systems market is expected to witness a CAGR of 18% from 2021 to 2026.
Due to the growing road traffic, there is a significant rise in the demand for advanced safety devices, such as automotive surround view systems, which represents one of the key drivers for the global automotive surround view systems market.
The rising integration of automotive surround view systems with several advanced technologies, such as AI, IoT, machine learning, etc., represents one of the key trends in the global automotive surround view systems market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of numerous automotive manufacturing units, thereby negatively impacting the demand for automotive surround view systems.
On the basis of the type, the market has been bifurcated into touch screen control, infrared remote control, and others. Currently, touch screen control holds the majority of the total market share.
On the basis of the functioning, the market has been divided into automatic functioning and manual functioning. Among these, automatic functioning represents the largest segment.
On the basis of the vehicle type, the market has been bifurcated into commercial vehicles and passenger vehicles. Among these, passenger vehicles exhibit a clear dominance in the market.
On the basis of the end-user, the market has been segmented into aftermarket and OEMs. At present, OEMs account for the majority of market share.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe dominates the global market.
The key companies in the global automotive surround view systems market are Valeo, Magna International, Continental AG, Clarion, Denso, Renesas Electronics, Aisin Seiki, Texas Instruments, Ambarella, Bosch Mobility Solutions, Xylon – logicBRICKS, Renesas Electronics, Mobileye, etc.
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