Automotive Surround View Systems Market Size was valued at USD 0.9 Billion in 2022. The Automotive Surround View Systems market industry is projected to grow from USD 0.99 Billion in 2023 to USD 2.05 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.60% during the forecast period (2023 – 2032). Increasing awareness of camera-based tools and an increase customers concern about safety are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for automotive surround view systems is driven by the increasing need for advanced safety features like surround view systems in cars. Because of this, many car companies now include or offer surround view systems as standard or extra tools in their vehicles. Augmented reality and 3D visualization technology in surround view systems are other trends. It gives drivers a more accurate and immersive view of their surroundings. Also, full-view systems are becoming increasingly more likely to use high-tech cameras and sensors like radar to make them more precise and reliable. New players are also entering the market, which means more competition exists. At the same time, mergers and deals make it easier for the big players to work together. Demand for automotive surround view systems is expected to rise due to the issues mentioned above in the future.
Additionally, sales of surround view systems have risen due to the development of advanced automobile driver assistance systems. More time and money are being spent on R&D to improve the accuracy and add new features to surround view systems. Furthermore, there has been a significant push in the safety and infotainment/interior electronics arena, as safety has become mandated by governments and ratified by automobile OEMs in recent decades. Moreover, improvements in the safety and emergency systems and display area in the automobile interior and exterior electronics sectors have been spurred by the rising disposable income of customers and their choice of modern designs. Therefore, the increasing prevalence of automotive surround view systems is fueling the expansion of the international market.
For instance, Continental has only recently developed one tire from its series, the Ultra Contact NXT. It uses up to 65 percent renewable, recyclable, and mass-balance-certified components while maintaining the highest levels of safety and performance. It’s a first for Continental that the tire has a significant proportion of environmentally friendly elements and meets the EU tire label's highest volume manufacturing performance standards. As a result, the demand for automotive surround view systems is predicted to grow throughout the forecasted time due to the rising demand for automobiles. Thus, the driving factor is the automotive surround view systems market revenue.
The Automotive Surround View Systems market segmentation, based on type, includes 4 cameras, 6 cameras, and others. In 2022, the 4 camera segment led the automotive surround view systems market in revenue because the four-camera type of car surround-view system uses two wide-angle cameras in the front and two in the back of the car. These systems give the driver a 360-degree view of the car, making parking and driving in crowded places safer.
The Automotive Surround View Systems market segmentation, based on camera functioning, includes automatic and manual. The manual is anticipated to grow at a CAGR of 9.60% over the projected period, making up the largest market share because the Manual setting is your camera's most powerful and flexible program. It gives you full power over the aperture, shutter speed, and ISO.
Figure 1: Automotive Surround View Systems Market by Camera Functioning, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Automotive Surround View Systems market segmentation, based on the vehicle type, includes passenger and commercial vehicles. The commercial vehicles category is expected to grow fastest at a CAGR of 9.60% because a good fleet camera system has dash cams to record inside and outside the commercial vehicle. It lets drivers and fleet managers see everything inside and outside the car.
The Automotive Surround View Systems market segmentation, based on the end market, includes OEMs and aftermarkets. The OEMs category is anticipated to grow at a CAGR of 9.60% over the projected period. Due to their many benefits, automotive surround-view systems are becoming increasingly popular in the automotive business. Automakers are increasingly counting on these systems to improve the driving experience for their customers. Also, the advanced driver assistance systems market is growing, which is good for the OEMs market for automotive surround-view systems.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Europe’s automotive surround view systems market will dominate due to the rising need for safety, comfort, and convenience in automobiles is expected to fuel the automotive surround view systems market in this area.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automotive Surround View Systems Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North America automotive surround view systems market accounts for the second-largest market share due to the presence of significant players and cutting-edge technology. Further, the US automotive surround view systems market held the largest market share, and the Canada automotive surround view systems market was the fastest-growing market in the region.
The Asia-Pacific automotive surround view systems market is expected to grow at the fastest CAGR from 2023 to 2032 due to the increasing research and development efforts for automotive safety and comfort technologies. Moreover, China’s automotive surround view systems market held the largest market share, and the Indian automotive surround view systems market was the fastest-rising market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the automotive surround view systems market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's global footprint, with important market developments including new product launches, contractual agreements and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the automotive surround view systems industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the Automotive Surround View Systems industry to benefit clients and increase the market sector. In recent years, the automotive surround view systems industry has offered some of the most significant technological advancements. Major players in the automotive surround view systems market, including 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 – logic BRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany), and others are attempting to grow market demand by investing in research and development operations.
Fujitsu is designed to increase sustainability worldwide by promoting social trust through innovation. As the trusted digital transformation partner for clients in more than 100 countries, our 123,000 employees seek to develop answers to some of the most important problems affecting humanity. To provide sustainability transformation, we base our services and solutions on five key technologies: computing, networks, artificial intelligence (AI), data & security, and convergent technologies. In June 2023, Fujitsu Limited and Microsoft Corporation’s announcement of a five-year strategic partnership will significantly expand their current collaboration. The agreement, which will entail investment from both companies to support the expansion of Fujitsu’s multibillion-dollar Uvance business, uses the Microsoft Cloud and other cutting-edge technologies to digitally transform how businesses around the world develop more sustainable practices and solutions that meet societal needs and open up new channels for business growth.
DENSO, a $47.9 billion market leader in the mobility industry with its global headquarters in Kariya, Japan, creates cutting-edge technology and parts for almost all current vehicle makes and models. It has nearly 200 sites worldwide to create great job opportunities and build advanced products that transform how the world moves, including those for electrification, powertrain, thermal, and mobility electronics. A transportation future that enhances lives, prevents traffic accidents, and protects the environment is paved by the company's 165,000 global employees creating such solutions. On the fiscal year that ended March 31, 2023, DENSO invested around 9.0 percent of its consolidated global sales in R&D. In March 2023, DENSO CORPORATION and USJC announced that large-scale production of insulated gate bipolar transistors (IGBT) began at the 300mm fab. A first shipment ceremony was held to celebrate this great accomplishment. The companies just inked a strategic agreement for this crucial power semiconductor used in electric vehicles.
March 2023: Texas Instruments (TI) announced that LITEON Technology had chosen TI's highly integrated C2000TM real-time microcontrollers (MCUs) and Gallium Nitride (GaN) field effect transistor (FET) for their newest high-performance server PSU for the North American market. A TMS320F28003x C2000 real-time MCU and TI's LMG3522R030 GaN FET are used in the recently commercialized PSU, which offers a power density of over 95 W/in3 and satisfies 80 Plus Titanium criteria.
April 2023: Ambarella, Inc. introduced the CV72S 4K, 5nm AI vision system-on-chip (SoC) for mainstream professional security cameras at ISC West. It is based on the company's most recent CVflow® 3.0 AI architecture. With the highest AI performance per watt in the security sector and the merging of radar and video data, Ambarella developed the new CV72S SoC for improved AI perception in all lighting conditions, including at night.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.9 Billion |
| Market Size 2023 | USD 0.99 Billion |
| Market Size 2032 | USD 2.05 Billion |
| Compound Annual Growth Rate (CAGR) | 9.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Camera Functioning, Vehicle Type, End Market, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Aircraft Type, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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 | Increasing technology improvements in automotive |
| Key Market Dynamics | An increasing number of self-driving cars on the roads Increasing the number of high-end vehicles sold |
Frequently Asked Questions (FAQ) :
The Automotive Surround View Systems market size was valued at USD 0.9 Billion in 2022.
The global market is projected to grow at a CAGR of 9.60% during the forecast period, 2023-2032.
Europe had the largest share of the global market.
The key players in the market are 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).
The 4-camera category dominated the market in 2022.
The OEMs had the largest share of the global market.
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