ID: MRFR/AM/3311-HCR | February 2021 | Region: Global | 100 pages
The automotive industry has witnessed remarkable development in the past few years, where technologies have played a crucial role in the growth of the industry. Technology in automotive, has become one of the first choices for the automotive manufacturers. Over the years, several technologies have gained much attention as well as they have been implemented in vehicles.
During the last few years, the demand for automotive surround view systems, been increased, owing to its various advantages. As a result, the sales of new vehicles have advanced from the past years. Additionally, the growing use of automotive driver assistance system technology has also boosted the demand for automotive surround view system. Moreover, increased spending on research & development in automotive industry, and growing safety concern among end users, are likely to fuel the demand for automotive surround view systems, among users. However, the higher installation cost, and strict government regulations on getting NOC for installation of this technology into vehicles, have majorly been restraining the growth of automotive surround view system market. The growing awareness of camera based technologies, and increasing sale of high end vehicles, are the major trends of global automotive surround view system market. As per MRFR analysis, the global automotive surround view system market is expected to grow at the CAGR of approximately 9.6% by the end of forecast period.
Automotive surround view system is one of the technologies that have been noticed and have given the automotive market growth momentum. Automotive surround view system is a technique, in which the embedded camera provides top view, rear view and panorama view to the driver. The functioning of the camera can be done either manually or automatically. This is an innovative and emerging automotive driver assistance system (ADAS) technology, which is expected to have remarkable growth rate during the forecast period.
The prominent players in the automotive surround view system market include Magna International (Canada), Valeo (France), Continental AG (Germany), Texas Instruments (US), Fujitsu (Japan), Denso (Japan), Renesas Electronics Corporation (Japan), Clarion Technologies (Japan), Aisin Seiki (Japan), Xylon – logicBRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany) and others.
For this study, the global automotive surround view system market has been divided on the basis of type, camera functioning, vehicle type, end market and region.
On the basis of type, the market has been segmented as 4 cameras, 6 cameras and others. Among these types, 4 camera surround view system is expected to dominate the market followed by 6 cameras. On the basis of camera functioning, the market has been segmented as automatic and manual, of which, the automatic camera functioning is expected to lead the market, followed by manual camera functioning. On the basis of vehicle type, the market has been segmented as passenger vehicles and commercial vehicles. However, the increasing sales of passenger cars is expected to dominate the passenger car segment during the forecast period. On the basis of end market, the market has been segmented as OEMs and Aftermarket. However, OEMs have dominated the market, followed by aftermarket segment.
Geographically, the global automotive surround view system market has been segmented as North America, Europe, Asia Pacific and Rest of the World. Among all regions, European region is expected to dominate the global market owing to the presence of several major automotive manufacturers and technological advancements. North America is the second leading region, owing to the strict regulation on driver safety and growing awareness. However, Asia Pacific is the third leading region in terms of revenue. China, Japan and India are the major countries, which will create ample growth opportunities in the future. Moreover, the Asia Pacific region is expected to have the fastest growing region due to emerging economies.
The report for Global Automotive Surround View System Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||9.6% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Camera Functioning, Vehicle Type, End Market|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Magna International (Canada), Valeo (France), Continental AG (Germany), Texas Instruments (US), Fujitsu (Japan), Denso (Japan), Renesas Electronics Corporation (Japan), Clarion Technologies (Japan), Aisin Seiki (Japan), Xylon – logicBRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany)|
|Key Market Opportunities||Growing awareness of camera based technologies, and increasing sale of high end vehicles, are the major trends|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The incremental research and development budgets are expected to motivate the market in the forthcoming period.
A 9.6% CAGR is predicted to be seen in the market over the forecast period.
An advantageous revenue level is projected to be seen in the market during the forecast period.
Clarion Technologies (Japan), Fujitsu (Japan), Denso (Japan), Texas Instruments (US), and Renesas Electronics Corporation (Japan) are the competitors in the market.
The incidence of main manufactures in the region of Europe is anticipated to augment the market in the coming period positively.