Global Vehicle Multi-View Camera System (MVCS) Market Analysis by Product Type, Function, End User, Region and segments forecast till 2033
Market Overview
The Global Vehicle Multi-View Camera System (MVCS) market is presently worth USD 4,600 million and is poised to amplify at a CAGR of 11.6% over 2023-2033, thereby amassing a valuation of USD 9,800 million by end of the assessment timeline.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 4,600 Million |
Market Forecast in 2033 | USD 9,800 Million |
CAGR % 2023-2033 | 11.6% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product Type, Consumption, company share, company heatmap, company Material Product Type capacity, growth factors and more |
Segments Covered | Product Type, Function, End User |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Ambarella, Inc., Aptiv PLC, Clarion Co., Ltd., Continental AG, Denso Corporation, Magna International Inc., NXP Semiconductors NV, OmniVision Technologies, Inc., Robert Bosch GmbH, Samvardhana Motherson Automotive Systems Group B.V., Texas Media Systems, Valeo, and Xilinx Inc. |
Multi-camera system is a mix of a camera and a coordinated electronic unit utilized for different applications in the vehicle. The advanced driver assistance system (ADAS) capabilities including object detection, blind spot detection, and traffic sign recognition work better owing to the multi-camera setup. The market for multi-camera systems has experienced rapid expansion in recent years, mostly as a result of the introduction of cutting-edge technologies into automobiles, such as enhanced driver assistance systems.
The market for many cameras has driven industry expansion as consumer safety concerns have drastically increased and insurance firms have placed more emphasis on the issue. The expanding market for multi-camera systems is anticipated to be aided by the rising demand for automobiles and the associated rise in manufacturing. The market for multi-camera systems will benefit from the global infrastructure's quick expansion in order to keep up with the automobile industry's shifting trends.
The use of multi-camera systems is being increased by technological advancements in electrical components domain. The market for multi-camera systems is also anticipated to grow throughout the forecast period as a result of the increased demand for lightweight and opulent automobiles and the continuous increase in vehicle manufacturing. Multi-camera systems are used more frequently as autonomous and electric car technology advances. Automobile buyers are requesting more user-friendly amenities in their vehicles. Given this, automakers are emphasizing the development of dashboards with advanced technological elements that are more user-friendly.
In order to construct multi-camera systems as a single unit on the dashboard, accessibility to the vehicle is essential. The manual labour is reduced by multi-camera systems by giving information about everything around the car. Multi-camera systems are helpful in delivering information linked to vehicle safety because manufacturers are focusing more on safety measures as a result of consumer safety concerns. The use of a multi-camera system in conjunction with a GPS-enabled in-dash navigation system allows the driver to select the shortest route while minimizing vehicle emissions. The market for multi-camera systems may be negatively impacted in the near future due to complexity and high cost.
Product Type Insights
The 2D has dominated the market growth over the forecast period. With the increasing number of vehicles on the road, safety has become a major concern for drivers. Vehicle Multi-View Camera System (MVCS) provide drivers with a 360-degree view of their surroundings, which can help prevent accidents and improve overall safety. As a result, there has been a growing demand for these systems in passenger vehicles.
Function Insights
The ADAS segment has dominated the market growth over the forecast period. Vehicle Multi-View Camera System (MVCS) have become increasingly advanced in recent years, with improved image quality, faster processing speeds, and more sophisticated algorithms. This has made these systems more effective and reliable, and has helped to increase their adoption in passenger vehicles.
End User Insights
The Passenger vehicle segment has dominated the market growth over the forecast period. Passenger vehicles have consistently accounted for the largest share of the automotive market, with growing sales in emerging markets such as China and India. As a result, there is a larger potential market for Vehicle Multi-View Camera System (MVCS) in passenger vehicles than in other types of vehicles, such as commercial or off-road vehicles.
Regional Insights
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, North America is projected to capture a substantial revenue share. The demand for the automotive multi camera system market for automotive in this region is anticipated to rise as a result of rising automobile production levels, increased adoption of cutting-edge technologies in automotive electronics, and the quick development of semi-autonomous and autonomous vehicles.
Competitive Analysis
The prominent companies defining the competitive terrain of this marketplace are Ambarella, Inc., Aptiv PLC, Clarion Co., Ltd., Continental AG, Denso Corporation, Magna International Inc., NXP Semiconductors NV, OmniVision Technologies, Inc., Robert Bosch GmbH, Samvardhana Motherson Automotive Systems Group B.V., Texas Media Systems, Valeo, and Xilinx Inc.
· In 2021, Magna International, a Canadian mobility technology company, announced that it had been selected by a global automaker to supply its latest generation of MVCS. The system will be used in the automaker's vehicles in Europe, Asia, and North America.
· In 2018, Valeo, a French automotive supplier, announced that it had developed a new MVCS that uses a combination of cameras and ultrasonic sensors to provide a 360-degree view of the vehicle's surroundings. The system is intended to enhance safety and provide drivers with a better view of their surroundings.
Global Vehicle Multi-View Camera System (MVCS) Market- Segmental Analysis
By Product Type
• 2D
• 3D
• Others
By Function
• Parking
• ADAS
• Others
By End-User
• Passenger vehicle
• Commercial vehicle
• Other
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Vehicle Multi-View Camera System (MVCS) Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both Product Typeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Product Typeion capacity by countries/regions, average End Use, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Vehicle Multi-View Camera System (MVCS) Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Product Typeion Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Product Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Product Type Capacity, Gross Margin
• Company Share Analysis by Card Product Type/Card Product Type
• Company Share Analysis by Product Type/Specification
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Only Three Thousand Four Hundred Ninety Nine US dollar
Only Four Thousand Four Hundred Ninety Nine US dollar
Only Five Thousand Four Hundred Ninety Nine US dollar