23 May 2019, Global automotive
surround-view systems market is anticipated to witness an exponential
growth in the forecast period. The automotive surround view system puts
collectively a bird's eye view of the vehicle/car, by displaying all the sides
of the car on the car's display screen. It is a developing automotive advanced
driver assistance system (ADAS) technology that supports low speed vehicle
maneuvers, such as slow curb side driving or while parking the vehicle.
The factors that propel the growth of the market include growing use of
automotive driver assistance system technology, increased expenditure on
research & development in automotive industry, and rising safety concern
among end users. On the other hand, there are factors that may hamper the
growth of the market including higher installation price, and stringent
government regulations on getting NOC for connection of this technology into
vehicle. Automotive surround-view system market is anticipated to expand at a
significant CAGR in the upcoming period as the scope, product types, and its
applications are increasing across the globe.
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The market could be explored by type, functioning,
vehicle type, end user and geography. Market could be explored by type as 4
cameras, 6 cameras and others. The “4 cameras” segment led the market in 2017
and will continue to lead in the forecast period. 4 cameras are followed by 6
cameras segment is the forecast period.
Based on functioning, the market could span automatic and
manual. The “Automatic” segment led the automotive surround-view systems market
in 2017 and will continue to lead in the forecast period. The market could be
explored based on vehicle type as passenger vehicles and commercial vehicles.
The “Passenger vehicles” segment led the market in 2017 and will continue to
lead in the forecast period. The key factors attributed to the growth of market
include increasing sales of passenger cars and increasing demand.
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| Automotive Surround-View Systems Market |
The market could be explored by End user as OEMs and
Aftermarket. The “OEMs” segment led the market in 2017 and is anticipated to
maintain its dominance in the forecast period. OEMs segment is followed by
aftermarket.
Europe accounted for the major share of the automotive
surround-view systems industry in 2017 and will continue to lead in the
forecast period. The factors that could be attributed to the growth include
presence of numerous key automotive manufacturers, high demand for progressive
safety systems and technical developments. Europe is followed by North American
region owing to stringent rule on driver safety and growing consciousness.
North America is followed by the Asia-Pacific region due to developing
economies.
Some of the key players that fuel the growth of the
automotive surround-view systems market comprise Continental, Valeo, Ambarella,
Fujitsu, Delphi Automotive, Clarion, Mobileye, Texas Instruments, Spillard
Safety Systems, Omni Vision Technologies and Renesas Electronics Corporation
and Xilinx. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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