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Increasing implementation of side view camera systems for ADAS and usage of side view camera systems for blind spot monitoring are key factors driving market
— Emergen Research
VANCOUVER, BC, CANADA, August 24, 2022 /EINPresswire.com/ — The Global Side-View Camera Systems Market size reached USD 2.4 Million in 2020 and is expected to register a revenue CAGR of 104.1% during the forecast period, according to latest analysis by Emergen Research. Increasing implementation of side view camera systems for Advanced Driver Assistance System (ADAS) and increasing usage of side view camera systems for reducing blind spots is projected to support market revenue growth between 2021 and 2028.
In addition, increasing demand for luxury vehicles will continue to boost revenue growth of the market. Offer of more features in luxury car offerings and rising disposable income is boosting demand for luxury vehicles in the recent past. Luxury vehicles offer improved performance, more comfortable cabin, and all the latest safety and technologically advanced features, which is expected to increase implementation of side-view camera systems in luxury vehicles. In 2020 for instance, Lexus Motors Ltd. the availability of new technologies to its clients for even higher safety levels as well as convenience with the launch of digital side-view monitor for its ES 300h luxury hybrid vehicles in the Europe market.
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However, high research and development and installation costs of side view camera systems are expected to hamper market revenue growth to some extent during the forecast period.
Major companies in the global market report include Continental AG, Hyundai Mobis Co., Ltd., Valeo SA, Magna International Inc., Denso Corporation, Robert Bosch GmbH, Stoneridge, Inc., Samvardhana Motherson Group, ZF Friedrichshafen AG, and Gentex Corporation
Some Key Highlights from the Report
Multi-camera system segment revenue is expected to expand at a substantially rapid CAGR during the forecast period as multi-camera system creates a dynamic, animated 3D car model that gives the driver an impressive, detailed view of the vehicle’s surroundings.
Passenger vehicle segment is expected to register a significantly robust revenue growth rate over the forecast period due to rising demand for advanced technologies that increase driver as well as passenger safety.
Europe side-view camera systems market is expected to register a considerably robust revenue growth rate over the over the forecast period due to robust presence of domestic and international market players offering side-view camera systems such as Continental AG, ZF Friedrichshafen AG, Robert Bosch GmbH, and Valeo SA among others in countries in the region.
In April 2021, DENSO Corporation announced that it has designed products for Advanced Drive, which is an advanced driver assistance system included on the new Lexus LS, which was launched in Japan.
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Emergen Research has segmented global side-view camera systems on the basis of camera type, component, vehicle type, and region:
Camera Type Outlook (Revenue, USD Million; 2018–2028)
Single-camera System
Multi-camera System
Component Outlook (Revenue, USD Million; 2018–2028)
Electronic Control Unit (ECU)
Camera
Display
Vehicle Type Outlook (Revenue, USD Million; 2018–2028)
Commercial Vehicle
Light Commercial Vehicle
Heavy Commercial Vehicle
Passenger Vehicle
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Regional Outlook (Revenue, USD Million; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Global Side-view Camera Systems Market Report – Table of Contents:
Chapter 1 includes the global Side-view Camera Systems market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
Chapter 2 broadly categorizes the Side-view Camera Systems market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
Chapter 3 elaborates on the competitive outlook of the Side-view Camera Systems market, focusing on the major manufacturers and vendor landscape.
Chapter 4 exhaustively studies the key manufacturers of the Side-view Camera Systems industry, along with their anticipated sales and revenue shares.
Chapters 5 includes market segmentation based on product type, application range, and market players.
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