Car Surround View Monitoring Systems Market is presently valued at USD 1.5 billion and is poised to amplify at a CAGR of 18% over 20220-2030.
An clever camera system known as a "surround-view system" shows a complete 360°view of the car on the LCD screen mounted on the dashboard. These devices are crucial in helping the driver guide the car and assist with parking. Additionally, they offer benefits like good vision of all surroundings, the removal of blind spots, decreased driver distraction, and increased traffic safety. High-resolution cameras that offer a real-time, bird's-eye view of the vehicle and its surroundings have replaced the low-resolution cameras used in earlier iterations of these systems. The inclusion of these technologies in contemporary cars is encouraged by these advantages.
Sales of vehicle surround view systems have increased as a result of developments in ADAS (automotive advanced driver assistance systems) technologies. To create surround view systems with greater accuracy and more sophisticated features, the manufacturers have intensified research and development. For example, they are providing sonar-based devices that estimate the distance between obstacles and alert the user when one object is getting close to another. The demand for South Korean auto OEMs' models has increased, forcing them to increase production rates and consequently raise their requirements for components, including automobile cameras. The demand for automotive camera systems is escalating as a result of rising premium car demand and safety equipment installed in each vehicle. These elements have been boosting the nation's market for automobile cameras. The continued requirement for large, light, and passenger vehicles is a crucial factor.Despite fluctuations in recent years, the nation is still a major player in the global auto industry.
Car Surround View Monitoring Systems Market- Segmental Analysis
Based on vehicle type
- Passenger Vehicle
- Commercial Vehicle
Based on component
- Sensors
- Cameras
- ECU
Based on Number of Cameras
- 4 cameras
- 5 cameras
- 6 cameras
- Others
Based on Operation
- Automatic
- Manual
Top Key Players:
BorgWarner Inc., Clarion Co. Ltd., Continental AG, Fujitsu Ltd., Gazer Ltd., Intel Corp., NXP Semiconductors., Omni Vision Technologies Inc., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Texas Instruments, and Valeo SA.
COVID-19 Impact:
The automotive industry has been severely impacted by the COVID-19 epidemic. Manufacturing facilities have closed as a result, and sales have decreased. Additionally, 2020 has seen a fall in the market for both commercial and passenger automobiles. Given that car production is strongly correlated with the surround view system industry, this loss will, as anticipated, have a negative impact on the sector. The budgetary allotment for R&D is anticipated to decline, which will impede the development of innovative automobile headrests. However, the businesses are taking preventative measures to counteract the outbreak's negative impacts.
Key Questions Answered:
- What is the global automotive surround view systems market growth?
- What are the global automotive surround view systems market drivers?
- What are the key industry trends in this market?
- What is the impact of COVID-19 on this market?
- What is the global automotive surround view systems market Segmental analysis?
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