Latest News- Automotive Surround View Systems Market: Passenger cars is expected to lead the Vehicle Type segment during 2024-2028

The Automotive Surround View Systems Market is being driven by Advancements in technology leading to affordable camera-assisted safety technologies

The Automotive Surround View Systems Market is expected to grow at a CAGR of 16.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10323.3 million. The automotive industry is experiencing significant advancements, with ADAS technology, including surround view systems, leading the charge. Bosch and Continental, two prominent German automotive suppliers, have recently introduced sophisticated surround view systems that provide a 360-degree, high-definition 3D image of the vehicle's surroundings. These systems eliminate blind spots and enable the vehicle to "see" obstacles from every angle, enhancing safety and convenience for drivers. The evolution of technology has transformed surround view systems from offering low-resolution, single-perspective images to delivering photo-quality, multi-angle visuals, revolutionizing the driving experience. 

Get more information on Automotive Surround View Systems Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • APAC
    • China
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advancements in technology leading to affordable camera-assisted safety technologies
• Increasing penetration rate of ADAS and advanced safety systems in commercial vehicles
• Rising number of pedestrian deaths while reversing vehicles drives demand for ADAS

However, the market also witnesses some limitations, which are as follows:

• Low adoption rate of ADAS due to high prices and difficulty of use
• Current low volumes leading to high development costs of surround view systems
• Lack of user-friendliness may potentially lead to driver distraction

Benefits of Buying Global Automotive Surround View Systems Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Automotive Surround View Systems Market Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Automotive Surround View Systems market encompasses advanced Intelligent camera systems that provide the Driver with real-time LCD screen displays of their vehicle's surroundings while parking. These systems utilize a combination of low-resolution and high-resolution cameras, NOC (Networked Object Detection), and various vehicle sensors including Pressure Sensors, Temperature Sensors, Position Sensors, Speed Sensors, Level Sensors, Capacitive Sensors, Ultrasonic Sensors, Infrared Sensors, and Piezoelectric Sensors. These features enhance Driving comfort, Safety, and are increasingly being adopted in Luxury cars, Electric vehicles, and are mandated by Vehicle safety laws. The Electronic Control Unit orchestrates the data from these sensors to offer Blind spot detection, Traffic safety, and other Safety features.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various automobile categories, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by manufacturers of these components and equipment. Key growth drivers in the automotive parts and equipment industry include the rising demand for electronic components in automobiles, such as electronic control units (ECUs) and high-resolution cameras, in response to the increasing sales of EVs, motorcycles, and PCs. Furthermore, the integration of advanced technologies like surround view systems, featuring intelligent cameras and LCD screens, into vehicles to address blind spots and enhance traffic safety, is expected to significantly contribute to market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/