Automotive Surround View Systems Market 2018 Global Size, Trends, Growth, Share, Growth Factors Analysis By Key Players, Region, And Vehicle Type To 2023

Magna International (Canada), Valeo (France), Continental AG (Germany), Texas Instruments (US), Fujitsu (Japan), Denso (Japan), Renesas Electronics Corporation (Japan), Clarion Technologies (Japan), Aisin Seiki (Japan), Xylon – logic BRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Automotive surround view systems Market.

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Automotive Surround View Systems Market Overview:

The Global Automotive Surround View Systems Market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of Surround View Systems will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2027, which will be a surplus growth at a moderate CAGR during the projected period (2016 -2027).

The high demand for automotive surround view systems market is due to the growth in the automotive industry. Automotive surround view systems is a technique, in which embedded camera provides top view, rear view and panorama view to the driver. The functioning of the camera can be done either manually or automatically. Moreover, rising disposable incomes and vehicle-ownership boosts the market growth. Emerging technology such as automotive driver assistance system (ADAS) are estimated to gain higher popularity during the forecast period. However, the high installation cost of automotive surround view system acts as a barrier for the growth of automotive surround view system market.

The automotive surround view systems market is completely dependent on the niche automobile industry. Thus, the increasing or decreasing demand of the high end automotive industry directly has an impact on the market. Moreover, the increase in the sales of niche vehicles has mainly been because of competitive and diverse options available for finance. The availability of finance has eased the purchase of vehicles, due to which there has been a rise in the use of automotive surround view system market. Another factor responsible for the increase in surround view system sale is increase spending on research and development in automotive industry and growing safety concern among end users. This is the primary factor that drives the growth of the automotive surround view system market and has gained prevalence in the recent times, with technological developments and rapidly increasing disposable income among consumers. Thus, the growth of the automotive surround view system market is expected to go hand in hand with the growth of automotive industry.

Initially manufacturers offered features such as ADAS, advance electronic systems among others, only in luxury vehicles. The growth is mainly subjected to high volume sale of premium vehicles equipped with ADAS system. In the current scenario, manufacturers are pushing for camera-assisted technologies in entry level and budget vehicles at affordable rates in order to acquire a greater market share than their competitors. The factor which hinder the growth of ADAS system and surround view system is major investment required in transportation infrastructure. However, the steady growth of surround view system will show positive sign of development in forecast period.

Industry/ Innovation/ Related News:

January, 2018 – Clarion unveils new technology solutions to make cars safer, smarter and more connected. Clarion advanced driver assistance systems, autonomous driving, HMI and automotive vision system demonstrated the 3D Surround Eye with distortion correction.

May, 2017 - Magna International, a leader in camera-based advanced driver assistance systems (ADAS) and mirrors, has developed ClearView to help improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo.

September, 2017 – Renesas Electronics, a premier supplier of advanced semiconductor solutions, and Cogent Embedded Inc., a leading embedded software provider to the automotive industry, announced their joint development of a 3D surround view solution to assist drivers during parking or low speed manoeuvres.

Automotive Surround View Systems Market: Regional Analysis

European region is dominating the market of automotive surround view systems market due to growth in automotive sector. Development of automotive manufacturing industries in European region are driving the market for automotive surround view systems market. The market in the European countries is largely driven by economic growth and ongoing industrialization, which helps in production of motor vehicles and other manufacturing output.

North America is referred to as the second-largest automotive surround view systems market due to factors such as strict regulation on driver safety and growing awareness have fuelled the demand for vehicles in the country.

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