Market Outlook
According to MRFR analysis, the global Automotive Surround View Systems Market is expected to register a CAGR of ~ 9.6% from 2022 to 2030 and hold a value of over USD 1,500 Million by 2030. Automotive surround view systems are intelligent camera systems that augment the safety mechanisms by manifolds. Automotive surround view systems are embedded with cameras that provide a rear view, top view, and landscape view to the driver.
The functioning of the camera can be done both automatically and the system is most obliging while parking. Some other advantages of Automotive surround view systems market contain enabling the driver to get a sharp view on all sides; removing blind spots; lowering distractions for the driver and refining traffic safety. The COVID-19 outburst has widely disrupted the automotive industry. It has caused the closure of manufacturing facilities and a drop in sales volume. Furthermore, the demand for both commercial and passenger vehicles has shown a decay in 2020. This decay, as anticipated, will affect the surround-view system industry unfavorably, as vehicle production is straight proportional to the surround-view system industry. The budget allocation for RD is projected to reduce, which will hinder the innovation of automotive headrests., The companies, however, are taking protective measures to combat the contrary effects of the outbreak.
Regional Analysis
Europe dominates the automotive surround view systems market due to the existence of major key players in the region. However, Asia-Pacific will project the highest growth rate for the estimated period owing to the unparalleled growth of the automobile sector in this region.
Market Segmentation
The Global Automotive Surround-View Systems Market has been segmented into Type, Functioning, Vehicle type, and End-user
Based on Type, The Global Automotive Surround-View Systems Market has been segmented into Touch Screen Control, Infrared Remote Control, and Others
Based on Functioning, The Global Automotive Surround-View Systems Market has been segmented into Automatic, and Manual
Based on Vehicle Type, The Global Automotive Surround-View Systems Market has been segmented into Commercial Vehicles and Passenger Vehicles
Based on End-User, The Global Automotive Surround-View Systems Market has been segmented into Aftermarket and OEMs
Key Players
Some of the key market players are Renesas Electronics Corporation (Japan), Clarion Technologies (Japan), Aisin Seiki (Japan), Xylon – logicBRICKS (Germany), Ambarella (US), Bosch Mobility Solutions (Germany), Magna International (Canada), Valeo (France), Continental AG (Germany), Texas Instruments (US), Fujitsu (Japan), and Denso (Japan)
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