Automotive Surround View Systems Industry
Summary:
- The global automotive surround view systems market size reached US$ 5.2 Billion in 2023.
- The market is expected to reach US$ 18.7 Billion by 2032, exhibiting a growth rate (CAGR) of 14.8% during 2024-2032.
- Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
- Based on the type, the market has been classified into touch screen control, infrared remote control, and others.
- On the basis of functioning, the market has been bifurcated into automatic and manual.
- Based on the vehicle type, the market has been divided into commercial vehicles and passenger vehicles.
- On the basis of end-users, the market has been categorized into aftermarket and OEMs.
- The rise in home improvement and renovation activities is a primary driver of the automotive surround view systems market.
- Technological advancements and the integration of smart home technologies are reshaping the automotive surround view systems market.
Industry Trends and Drivers:
Growing Demand for Advanced Driver Assistance Systems (ADAS): The increasing demand for advanced driver assistance systems (ADAS) is driving the market growth. Moreover, the growing reliance of ADAS on technologies like surround view systems to provide a 360-degree view around the vehicle, thereby reducing blind spots and enabling safer navigation in tight spaces, is catalyzing the market growth. Besides this, the imposition of various government regulations across the globe, prompting automakers to integrate more ADAS features, is creating a positive outlook for the market. Additionally, the rising consciousness among consumers about encouraging them to seek vehicles equipped with advanced technologies that reduce the risk of accidents is fueling the market growth.
Rise in Vehicle Production and Sales: The rising vehicle production and sales across the globe is another key factor driving the market growth. Along with this, the burgeoning integration of advanced safety features like surround view systems is favoring the market growth. Moreover, the ongoing shift toward producing vehicles that meet consumer demand for safety and regulatory requirements, further propelling the adoption of these systems is acting as a growth-inducing factor. Besides this, the heightened focus of automakers on providing enhanced safety technologies across various vehicle segments to maintain their competitive edge is boosting the market growth. Apart from this, the burgeoning integration of surround view systems in commercial and passenger vehicles is anticipated to drive the market growth.
Rapid Technological Advancements in Automotive Imaging and Sensor Technologies: The introduction of modern surround view systems that rely on a network of high-definition (HD) cameras and sensors to create a 360-degree view around the vehicle, thus allowing for better parking assistance and obstacle detection, is fostering the market growth. Moreover, the rising advancements in camera resolution, image processing algorithms, and sensor integration that improve the accuracy and functionality of surround view systems are stimulating the market growth. These systems provide clearer images in low-light conditions, reduce distortions, and offer enhanced real-time feedback to drivers. In addition to this, the rising miniaturization of sensors and the reduction in costs, making it more feasible for automakers to include these systems in a wider range of vehicles is favoring the market growth.
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Automotive Surround View Systems Market Report Segmentation:
Breakup By Type:
- Touch Screen Control
- Infrared Remote Control
- Others
Based on the type, the market has been classified into touch screen control, infrared remote control, and others.
Breakup By Functioning:
- Automatic
- Manual
On the basis of functioning, the market has been bifurcated into automatic and manual.
Breakup By Vehicle Type:
- Commercial Vehicles
- Passenger Vehicles
Based on the vehicle type, the market has been divided into commercial vehicles and passenger vehicles.
Breakup By End-User:
- Aftermarket
- OEMs
On the basis of end-users, the market has been categorized into aftermarket and OEMs.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America.
Top Automotive Surround View Systems Market Leaders:
The automotive surround view systems market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies.
Some of the key players in the market are:
- Valeo SA
- Magna International
- Continental AG
- Clarion
- Denso
- Renesas Electronics
- Aisin Seiki
- Texas Instruments
- Ambarella
- Robert Bosch GmbH
- Xylon d.o.o. and Mobileye Vision Technologies Ltd.
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