Global automotive surround-view systems market is valued approximately USD 457 million in 2018 and is anticipated to grow with a healthy growth rate of more than 24.1% over the forecast period 2018-2025. Automotive surround view system market is a market of automotive camera based on a technique, in which the embedded camera offers rear view, top view and panorama view to the driver. Also, the functioning of the camera can be done either automatic or manual. The advent of the advanced driver assistance system (ADAS) technology, is considered as a major trend for the market over the forecast period.
On the basis of segmentation, automotive surround-view systems market is segmented into Type and Demand. The Type segment includes 4 Cameras Type, 6 Cameras Type and Others. The Demand segment includes OEM and Aftermarket. Among the type segment, 4 camera type segment holds the leading position in the market owing to its inherent benefits such as wide coverage of more than 180 degrees view around the vehicle that enables the driver to have a clear vision about the existing things present nearby the vehicle.
Among the demand coverage segment, OEM segment is the dominate segment in the market owing to the safety being mandated by government and ratified by a consortium of automotive OEMs. Also, the growth of the OEM segment is witnessed due to the escalating adoption of automotive driver assistance system by automotive manufacturers. For instance: Magna and Renesas Electronics Corporation being one of the leading automotive suppliers across the world. Both the companies are jointly working to accelerate the adoption of Advanced Driving Assistance System (ADAS) features for its mid-range vehicles.
The regional analysis of global Automotive Surround-View Systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Geographically, North America holds the leading position in terms of revenue in automotive surround view systems market. Factors such as strict regulation on the driver safety and growing awareness of automotive driver assistance system (ADAS) are some major forces driving the growth of the North American market. For instance: As per the National Highway Traffic Safety and Administration (NHTSA) (United States) in 2016, the NHTSA jointly with the United States Department of Transportation issued a Federal Automated Vehicle Policy with an aim to provide safety assurance and facilitating innovation. In September 2017, NHTSA has issued a Vision for Safety 2.0, paves the way for safe deployment of advanced driver assistance technologies by offering voluntary guidance which promotes best practices and prioritize safety. Europe also contributes a satisfactory growth in the global Automotive Surround-View Systems market due to surging adoption of both passenger and commercial vehicles along with investments made by the private organizations. Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2018-2025 due to surging adoption of automotive surround view systems by OEMs and rising number of road accidents in developing countries such as India, China and Japan.
Market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
4 Cameras Type
6 Cameras Type
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Automotive Surround-View Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers