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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
