Governments have employed stringent safety regulation acts. This forces organizations to adhere to these laws, which is a key reason for the growth of the subject market.
Wilmington, Delaware, United States, March 18, 2024 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The forecasted market valuation for the global automotive 360-degree surround view camera market is US$ 4.0 billion, estimated to be reached by 2031. The previous market valuation was US$ 1.7 billion, measured in 2022. This market advancement has been subjected to an impressive CAGR of 10.5%. Various market forces have been helping the market grow substantially.
Mid-sized passenger cars have been extensively using cameras for safety. This is one of the key market opportunities for the camera market, as a larger customer base prefers mid-sized passenger cars. Further, this sector promotes camera manufacturing versatility, which is a crucial market driver.
Advanced driver assistance systems (ADAS) play a pivotal role in the lucrative growth opportunities for the subject market. These include collision avoidance, automatic emergency braking, and lane departure warning. Such assistance enables the driver to drive safely. Due to the installation of 360-degree view cameras, accurate vehicle surroundings can be assessed, which acquires better control over the factors mentioned above. Thus, this is another important market driver.
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Various governments have implemented stringent vehicle safety laws and regulations, the main aim of which is to reduce the number of road accidents. Due to this, the importance of 360-degree view cameras has increased. Therefore, this is a vital market driver that influences the subject market.
Key Findings from the Market Report
- The global automotive 360-degree surround view camera market includes many market segments. The side-mirror cameras market segment is one of the significant contributors to the subject markets. Cars, trucks, and many other vehicles possess these cameras, ensuring more rear visibility to the driver.
- The luxury passenger car market segment utilizes several cameras that give the driver a complete surrounding view of the vehicle. Cameras also help him to alert him regarding any approaching vehicle.
- The mono-camera market segment is more sensitive than the colored camera system. Therefore, a monochromatic image of an object can be generated.
- The level 4 automation market segment delivers autonomous camera systems to drivers, which operate freely under prerequisite conditions.
Regional Profile
- The automobile market has been growing in various developing Asian countries like India. Developed countries like China and Japan also experience growth in the automotive market, which creates lucrative opportunities for the global automotive 360-degree surround view camera market. Thus, the Asia-Pacific region has been one of the significant contributors to the market.
- Europe has stringent vehicle safety standards, which force organizations to install safety cameras on all vehicles. This creates an opportunity for the subject market; therefore, Europe is another significant contributor.
- Due to rising technological infrastructure, North America creates a lucrative growth chance for the subject market.
Key Developments in the Automotive 360-degree Surround View Camera Market
- In September 2021, Gentex Corporation acquired Guardian Optical Technologies. This acquisition shall help the organization to penetrate the market with the help of the technology provided by the latter start-up.
- In February 2022, ASM Pacific Technology Ltd. (ASMPT) acquired Automation Engineering, Inc. (AEi), which helped the organization enter the global automotive 360-degree surround view camera market.
- In January 2024, Ambarella International LP collaborated with e-con Systems to launch a robotics computing platform during the CES. This helped the business innovate in the market.
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Competitive Landscape
The global automotive 360-degree surround view camera market is crowded with different players.
- Ambarella International LP is one of these players, known for its Cooper platform technology. It provides low power consumption and high image resolution cameras.
- Autoliv Inc. has entered the automobile market deeply. It produces battery cut-off switches, steering wheels, airbag systems, seatbelts, and various safety cameras.
- Aptiv Plc is known for automotive connectors, autonomous mobility, and various other products.
Key Players
Ambarella International LP
Aptiv Plc
Autoliv Inc.
Automation Engineering Inc. (AEi)
Brigade Electronics
Continental AG
Denso Corporation
Faurecia Clarion Electronics
Ficosa International
FLIR SYSTEMS
Gentex Corporation
HELLA GmbH & Co. KGaA
Hitachi Astemo Ltd.
Hyundai Mobis Co., Ltd
Kyocera Corporation
Magna International Inc.
MCNEX Co., Ltd.
Mobileye B.V.
Omnivision Technologies Inc.
Panasonic Corporation
Robert Bosch GmbH
Samsung Electro-Mechanics
Samvardhana Motherson International Limited
Sony Corporation
STONKAM CO. LTD.
Valeo S.A.
Veoneer
ZF Friedrichshafen AG
Market Segmentation
By Product Type
Side-mirror Cameras
Interior-view Cameras
Forward-view Cameras
Rear-view Enhancement Cameras
Corner-view Cameras
By Vehicle Type
Compact Passenger Cars
Mid-sized Passenger Cars
Premium Passenger Cars
Luxury Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Technology
Mono Cameras
Stereo Cameras
Infrared Cameras
Others
By Level of Automation
Level 1: Driver Assistance
Level 2: Partial Automation
Level 3: Conditional Automation
Level 4: High Automation
Level 5: Full Automation
By Sales Channel
OEM
Aftermarket
By Region
North America
South America
Europe
Asia Pacific
Middle East & Africa
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