PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1572412
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1572412
Automotive Surround View System Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global Automotive Surround View System Market was valued at USD 3.3 billion and is projected to grow at over 14.5% CAGR from 2024 to 2032, attributed to the rising adoption of autonomous vehicles. As the automotive industry pivots towards self-driving technology, there's a heightened demand for sophisticated safety and navigation systems. Surround view systems, offering a comprehensive 360-degree perspective of a vehicle's environment, play a pivotal role in ensuring safety for autonomous vehicles. These systems are instrumental in functions like obstacle detection, lane departure warnings, and parking assistance, underscoring their significance in advancing autonomous driving technology. For example, Rimac unveiled its new Level 4 autonomous electric car brand, Verne, in June 2024, with a market debut set for 2026.
Urbanization has led to congested parking spaces, amplifying consumer demand for advanced parking assistance systems. As drivers navigate these tighter confines, technologies like surround view systems become invaluable. Offering a full 360-degree perspective, these systems not only aid in maneuvering but also significantly mitigate parking-related mishaps, enhancing the overall driving experience.
High costs stifle the growth of the automotive surround view systems market. These systems require multiple cameras, sensors, and advanced software, which drive up production expenses. In developing markets, many consumers find that the premium for surround view systems makes vehicles unaffordable. This financial hurdle curtails the adoption of these systems, especially in low to mid-range vehicles. Consequently, the market's expansion is constrained by budget-conscious consumers hesitating to purchase vehicles with these advanced features.
The Global Automotive Surround View System Industry is classified based on product, fuel, component, end-use, application and region.
The market segments vehicles into passenger cars and commercial vehicles. In 2023, passenger cars held a dominant 70% market share, a trend expected to continue through 2032. This dominance stems from an escalating consumer emphasis on safety and convenience. Recognizing this priority, automotive manufacturers are increasingly embedding surround view systems, either as standard or optional features, in passenger vehicles.
The market distinguishes between OEM and aftermarket end-uses. In 2023, the OEM segment captured approximately 64% of the market share. This prominence is fueled by a growing inclination to embed advanced safety features directly into new vehicles. In a competitive automotive landscape, manufacturers are increasingly adopting surround view systems, either as standard or optional, to set their offerings apart.
North America Automotive Surround View System Industry held a commanding share exceeding 35% in 2023. The region's growth is spurred by stringent vehicle safety mandates and a swift embrace of advanced driver-assistance systems (ADAS). North American consumers place a premium on vehicle safety, bolstering the demand for surround view systems. Furthermore, the region's landscape, dotted with prominent automotive manufacturers and a thriving luxury vehicle market, amplifies the appeal of surround view systems. The regional momentum is further buoyed by a pronounced shift towards autonomous driving technologies.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimation
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market scope and definition
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material supplier
- 3.2.2 Component supplier
- 3.2.3 Software provider
- 3.2.4 Manufacturer
- 3.2.5 Technology providers
- 3.2.6 End user
- 3.3 Profit margin analysis
- 3.4 Technology and innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Rising demand for advanced safety features
- 3.8.1.2 Increasing adoption of ADAS in vehicles
- 3.8.1.3 Growing preference for luxury vehicles
- 3.8.1.4 Expanding automotive production and sales
- 3.8.2 Industry pitfalls and challenges
- 3.8.2.1 High cost of surround view systems
- 3.8.2.2 Integration challenges with existing vehicle systems
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Product, 2021-2032, ($Mn, Units)
- 5.1 Key trends
- 5.2 4 camera system
- 5.3 6 camera system
- 5.4 Others
Chapter 6 Market Estimates and Forecast, By Vehicle, 2021-2032, ($Mn, Units)
- 6.1 Key trends
- 6.2 Passenger cars
- 6.2.1 Hatchback
- 6.2.2 Sedan
- 6.2.3 SUV
- 6.2.4 Others
- 6.3 Commercial vehicle
- 6.3.1 Trucks
- 6.3.2 Bus
Chapter 7 Market Estimates and Forecast, By Fuel, 2021-2032, ($Mn, Units)
- 7.1 Key trends
- 7.2 Gasoline
- 7.3 Diesel
- 7.4 All-electric
- 7.5 PHEV
- 7.6 HEV
Chapter 8 Market Estimates and Forecast, By Component, 2021-2032, ($Mn, Units)
- 8.1 Key trends
- 8.2 Cameras
- 8.3 Control unit
- 8.4 Display unit
- 8.5 Software
Chapter 9 Market Estimates and Forecast, By Application, 2021-2032, ($Mn)
- 9.1 Key trends
- 9.2 Parking assistance
- 9.3 Blind spot detection
- 9.4 Lane departure warning
- 9.5 ADAS integration
Chapter 10 Market Estimates and Forecast, By End-Use, 2021-2032, ($Mn, Units)
- 10.1 Key trends
- 10.2 OEM
- 10.3 Aftermarket
Chapter 11 Market Estimates and Forecast, By Region, 2021-2032, ($Mn, Units)
- 11.1 Key trends, by region
- 11.2 North America
- 11.2.1 U.S.
- 11.2.2 Canada
- 11.3 Europe
- 11.3.1 UK
- 11.3.2 Germany
- 11.3.3 France
- 11.3.4 Italy
- 11.3.5 Spain
- 11.3.6 Netherlands
- 11.3.7 Rest of Europe
- 11.4 Asia Pacific
- 11.4.1 China
- 11.4.2 India
- 11.4.3 Japan
- 11.4.4 South Korea
- 11.4.5 ANZ
- 11.4.6 Southeast Asia
- 11.4.7 Rest of Asia Pacific
- 11.5 Latin America
- 11.5.1 Brazil
- 11.5.2 Mexico
- 11.5.3 Argentina
- 11.5.4 Rest of Latin America
- 11.6 MEA
- 11.6.1 South Africa
- 11.6.2 Saudi Arabia
- 11.6.3 UAE
- 11.6.4 Rest of MEA
Chapter 12 Company Profiles
- 12.1 Continental AG
- 12.2 Robert Bosch GmbH
- 12.3 Valeo S.A.
- 12.4 Denso Corporation
- 12.5 Magna International Inc.
- 12.6 Aptiv PLC
- 12.7 Fujitsu Ten Limited
- 12.8 Marelli Holdings Co., Ltd.
- 12.9 Hitachi Automotive Systems Ltd.
- 12.10 Clarion Co., Ltd.
- 12.11 Hyundai Mobis Co., Ltd.
- 12.12 Panasonic Corporation
- 12.13 Sony Corporation
- 12.14 NXP Semiconductors N.V.
- 12.15 Texas Instruments Incorporated
- 12.16 Omnivision Technologies, Inc.
- 12.17 Ambarella, Inc.
- 12.18 Xilinx, Inc.
- 12.19 Renesas Electronics Corporation
- 12.20 ZF Friedrichshafen AG
