Global Car Surround View Monitoring Systems Market Analysis by Vehicle type, Component, Number of Cameras, Operation, Region and segments forecast till 2033

Market Overview

The Global Car Surround View Monitoring Systems Market is presently valued at USD 1,500 million and is poised to amplify at a CAGR of 18% over 2023-2033, thereby amassing a valuation of USD 21,200 million by end of the assessment period.

Report Scope

The surround-view system is defined as an intelligent camera system that displays a full 360°view of the vehicle on the LCD screen located on the dash. The system has played an essential role in assisting the driver in parking and guiding the vehicle. Also, these provide additional advantages that includes, providing a clear vision of all elements, eliminating blind spots, reducing driver distraction, and improving traffic safety.

The car surround view systems have evolved over time from low-resolution cameras to high-resolution cameras and provides a real-time -bird eye view of the vehicle and its surroundings. All these benefits have encouraged the installation of these systems in modern cars.

The rising demand for safe vehicles across the globe, the advancements in technology that leads to affordable camera-assisted safety technologies, and also the increase in trend of autonomous vehicles have fueled the growth of the global surround view system market. On the flip side, higher installation cost and strict government regulations on getting NOC for installation of this technology into vehicles has hampered the growth of the global surround view system market.

Drivers: Rising penetration of Advanced Driver Assistance System

One of the major factor that has fueled the market growth is the rising penetration of the advanced driver assistance system over the forecast period. This is because of the advancements in the automotive ADAS technologies that have in turn, boosted the market growth over the forecast period.

Challenge: Higher installation cost and strict government regulations have hampered the market growth

The major restrain that has restricted the market growth over the forecast period is the higher installation cost as well as strict government regulations over the forecast period.

Trend: increasing demand for advanced driver assistance systems (ADAS) in vehicles

One Car Surround View Monitoring Systems Market trend is the increasing demand for advanced driver assistance systems (ADAS) in vehicles. Surround View Monitoring Systems are a type of ADAS that use multiple cameras to provide a 360-degree view of the vehicle's surroundings, making it easier for drivers to park and maneuver in tight spaces. As consumers become more aware of the benefits of ADAS in improving driving safety and convenience, the demand for Surround View Monitoring Systems is expected to increase. In addition, government regulations mandating the installation of ADAS in vehicles for safety reasons is also driving the growth of the Car Surround View Monitoring Systems Market.

Vehicle type Insights

The passenger vehicle 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. Car Surround View Monitoring Systems 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.

Component Insights

The sensors segment has dominated the market growth over the forecast period. Car Surround View Monitoring Systems 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.

Number of Cameras Insights

The 4 cameras 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 Car Surround View Monitoring Systems in passenger vehicles than in other types of vehicles, such as commercial or off-road vehicles.

Operation Insights

The automatic segment has dominated the market growth over the forecast period. The demand for luxury vehicles has been growing in recent years, with many consumers willing to pay a premium for advanced features and technology. Car Surround View Monitoring Systems are often included as a standard or optional feature in luxury vehicles, further driving growth in the market.

Regional Insights

The Global Car Surround View Monitoring Systems Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle East and Africa. Among these, Europe has dominated the market growth over the forecast period. This is because it has the largest revenue growth of the market. Many countries have introduced regulations requiring certain safety features in passenger vehicles, including Car Surround View Monitoring Systems. For example, the European Union has mandated that all new passenger vehicles must be equipped with these systems by 2022, while the United States is considering similar regulations.

Competitive Analysis

Some of the prominent companies operating in the market are BorgWarner Inc., Clarion Co. Ltd., Continental AG, Fujitsu Ltd., Gazer Ltd., Intel Corp., NXP Semiconductors., Omni Vision Technologies Inc., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Texas Instruments, and Valeo SA.

·         In 2021, Continental AG, a German automotive manufacturing company, announced that it had developed a new surround view camera system for cars that uses a single camera and artificial intelligence to generate a 3D view of the car's surroundings. The system is designed to be more cost-effective than traditional surround view systems, which use multiple cameras.

·         In 2020, Mobileye, an Israeli technology company that develops advanced driver-assistance systems, announced that it had partnered with Geely Auto Group, a Chinese car manufacturer, to develop a surround view camera system for Geely's vehicles. The system is expected to be available in Geely's cars in 2022.

Global Car Surround View Monitoring Systems Market- Segmental Analysis

Based on Vehicle type

• Passenger Vehicle

• Commercial Vehicle

Based on component

• Sensors

• Cameras

• ECU

Based on Number of Cameras

• 4 cameras

• 5 cameras

• 6 cameras

• Others

Based on Operation

• Automatic

• Manual

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Car Surround View Monitoring Systems Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both Vehicle typeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Vehicle 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 Car Surround View Monitoring Systems 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

•             Vehicle 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 Vehicle type in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Vehicle type Capacity, Gross Margin

•             Company Share Analysis by Card Vehicle type/Card Vehicle type

•             Company Share Analysis by Vehicle type/Specification