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A recent report published by Infinium Global Research on the automotive side view camera system market provides an in-depth analysis of segments and sub-segments in the global as well as regional automotive side view camera system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional automotive side view camera system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global automotive side view camera system market. According to the report, the global automotive side view camera system market was nearly worth USD 1 billion in 2021 and is expected to reach up to USD 25 billion by 2027, growing with a CAGR of 71% over the forecast period of 2021-2027.
The automotive surround-view camera system is an emerging automotive ADAS (Advanced Driver Assistance System) technology that assists the driver in parking the vehicle safely by allowing him/her to see a top-down view of the 360-degree surroundings of the vehicle. This system normally consists of four to six wide-angle (fish-eye lens) cameras mounted around the vehicle, each facing a different direction. From these camera inputs, a composite view of the surroundings of the vehicle is synthesized and shown to the driver in real-time during parking.
However, the automobile industry faces a significant problem due to a slowdown in the economy/gross domestic product (GDP). The COVID-19 outbreak is affecting tourism, traveling, and auto shows. Auto shows are a platform for the launching of new automobile vehicles, discussion & proposal of new technologies and to attract & create interest in automobile lovers. Several auto shows have been postponed or canceled due to which the launching of new automobiles has been postponed and expected investments are delayed. Fuel consumption accounts for a significant part of the cost during a heavy vehicle´s lifetime. Therefore the leading manufacturers are striving to reduce the weight of the vehicles and in addition improve their aerodynamics. By replacing the rear-view mirrors on the trucks with a camera monitor system (CMS) the aerodynamics can be improved and the fuel consumption, therefore, decreased, additionally increasing the visibility while driving. CMS is a combination of cameras placed outside the vehicle with corresponding monitors installed inside the cab aimed to improve the driver's view of the areas hidden from direct view. Currently, there are different possibilities for camera placement in cars enabling the driver to expand the rear-view, and front view, or provide additional views minimizing the blind spots. It is not unlikely that the legal requirements may also allow for the replacement of class II and IV mirrors corresponding to main and wide-angle rear-view mirrors in heavy trucks in the near future. Digital mirrors offer new possibilities for vision enhancements as well as additional information that could facilitate driving in ways not feasible with physical mirrors. However, the high cost of research and development is affecting the growth of the market. Moreover, the growing demand for autonomous vehicles and electric vehicles will provide a significant growth opportunity for the market.
The Asia Pacific dominates the automotive side view camera system market. An increase in the production of vehicles across the region is contributing to the growth of the market in this region. Furthermore, growing safety standards in vehicles across the region is fuelling the vehicle manufacturers to integrate side-view camera in their vehicles. Moreover, the presence of major automotive parts manufacturers across emerging markets like China, India, and Japan is anticipated to propel the automotive side view camera system market in the Asia Pacific.
The report on global automotive side view camera system market covers segments such as camera type, component, and vehicle. On the basis of camera type, the sub-markets include single camera, and multi-camera. On the basis of component, the sub-markets include camera, ECU, and display. On the basis of vehicle, the sub-markets include passenger car, and commercial vehicle.
The report provides profiles of the companies in the market such as Hyundai Mobis, Continental AG, Valeo, Samvardhana Motherson, Magna International, Robert Bosch, Denso Corporation, Samsung Electro-Mechanics, Panasonic Corporation, and Mitsubishi Electric.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the automotive side view camera system market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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