New York, July 13. 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Side View Camera System Market: Segmented: By Camera Type, By Component, By Vehicle Type, And Region – Global Analysis of Market Size, Share and Trends for 2019- 2020 and forecast to 2031” – https://www.reportlinker.com/p06288780/?utm_source=GNW
A side view camera is a form of security camera that is commonly installed in vehicles. Increasing the driver’s view tends to provide a better driving experience. It offers the driver a 360-degree perspective of the surroundings, ensuring a safe, simple and enjoyable driving experience. The camera system is made up of many components, including a display, sensor, and camera, among others. The cameras are mounted on both sides of the vehicle’s side mirrors to provide a right and left view. It also helps the driver to maneuver in traffic jams, parking assistance, lane deviation, blind side recognition, pedestrian recognition and adaptive cruise control. Therefore, when the driver’s view is obstructed, the side view camera system provides a full view of the vehicle’s surroundings, enhancing occupant safety and enabling autonomous driving.
The global side view camera systems market is expected to project a notable CAGR of 110.6% in 2031.
The growth of side camera systems is strongly driven by factors such as increased production of passenger cars and commercial vehicles, a focus on improving fuel efficiency through lightweight technologies, and increased use of electrical components in cars.
Global Side Camera System: Segments
Multi-Camera System Components Segment Expected to Grow with Highest CAGR in 2021-31
The global side view camera systems market is divided into single camera systems and multi-camera systems based on camera type. Due to the increased demand for multi-camera side camera systems, the multi-camera system industry is likely to account for a comparatively larger revenue share throughout the projection period. The multi-camera system allows visibility of the entire vehicle environment when parking and maneuvering. Thanks to the highly advanced video-based object detection, the 3D panoramic view of the multi-camera system sets new benchmarks and offers a variety of advantages.
Display Segment Expected to Grow with Highest CAGR in 2021-31
The global side view camera systems market is divided into three segments based on component types: electronic control unit (ECU), camera, and display. Due to the increasing use of in-view display systems, the display segment is expected to dominate in terms of revenue over the forecast period. The need for the number of side camera systems will increase as more advanced display technologies are used in vehicles. The increasing use of advanced driver assistance systems (ADAS) in high-end automobiles is expected to drive revenue growth in this market.
The demand for luxury and high-end vehicles is increasing
The demand for luxury and high-end vehicles, equipped with all the advanced features such as side camera systems, blind spot information systems, reversing assistants and others, is driven by an increase in l money available. For example, because Germany is the automotive capital of the world, the side view market is expected to grow at the fastest rate. ADAS systems are heavily researched and developed by leading car manufacturers such as BMW, Mercedes Benz and Audi AG. In addition, the demand for side camera systems for passenger vehicles is increasing, according to the Association of European Manufacturers, as they improve passenger safety and minimize the frequency of road accidents.
Increase the offer of automotive solutions
Over the projected period, there will be an increase in the supply of automotive solutions that improve driver and passenger safety. As a result, automakers are integrating various components, such as side cameras, which provide a clear view of the vehicle’s surroundings, thereby increasing the global market for side camera systems. Likewise, as more stringent legislations controlling automotive safety requirements are passed around the world, the market for side camera systems is likely to increase. International demand for side camera systems is expected to grow as entertainment systems become more integrated into vehicles. The expansion of side camera systems is driven by the use of advanced features in vehicles, such as blind spot monitors, night vision camera systems, traffic management systems and exit systems of way.
The expensive scope of the design
The heavy expense of installing cameras in cars can stifle sales in this industry. However, future market expansion may be hampered by vehicle inflation as well as the expensive expense of designing and testing these cameras.
Global Side Camera System: Key Players
Company overview, business strategy, key product offerings, financial performance, key performance indicators, risk analysis, recent development, regional presence, SWOT analysis
Samsung Electronics Co., Ltd.,
Ficosa International SA,
Magna International Inc.,
Continental AG, Stoneridge Inc.,
Robert Bosch GmbH,
Mitsubishi Electric Corporation,
Other top players
Global Side Camera System: Regions
The global side view camera systems market is segmented on the basis of regional analysis into five major regions: North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific holds the largest market share among all regions. The expansion of this market sector will be mainly driven by the increase in population and hence the increase in demand for vehicles, as well as the increase in manufacturing and sales of vehicles. In addition, favorable government regulations encouraging the use of electric vehicles to improve air quality would aid in the growth of the Asia-Pacific side view camera system market.
Impact of Covid-19 on the Side View Camera System Market
Due to the COVID-19 outbreak, the side camera supply cycle has become sensitive. Additionally, due to the pandemic, automobile manufacturing has come to a halt, which has held back the side view camera market. Additionally, due to the pandemic lockdown and government limitations, repair and service shops have been closed, disrupting the demand for aftermarket side cameras. Additionally, side view cameras are a developing industry that has been hampered by the ongoing outbreak as manufacturing and installation in affected countries have been halted.
Global Side View Camera System is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – US & Canada
Latin America Market size, share, trends, opportunities, annual growth, CAGR – Mexico, Argentina, Brazil and rest of Latin America
European Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – UK, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Market Size, Share, Trends, Opportunities, YoY Growth, CAGR of Asia-Pacific Market – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
Middle East & Africa Market Size, Share, Trends, Opportunities, YOY Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
The Global Side View Camera System report also contains analysis on:
Side View Camera System Segments:
By camera type:
Dynamics of the side view camera system
Side view camera system size
Offer and demand
Competition and companies involved in the market
Market value chain
Market drivers and restraints
Scope and segmentation of the Side View Camera System Market report
Report attribute details
Market size value in 2021 USD 4.6 million
Revenue forecast in 2031 7,866.6 million USD
CAGR growth rate of 110.6% from 2021 to 2031
The base year for the 2020 estimate
Quantitative Units Revenue in Million USD and CAGR from 2021 to 2031
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends
Segments Covered Component, Camera Type, Vehicle Type and Region
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Key Companies Featured Panasonic Corporation, Samsung Electronics Co., Ltd., Ficosa Internacional SA, Magna International Inc., Continental AG, Stoneridge Inc., Robert Bosch GmbH, Pioneer Corporation, Kyocera Corporation and Mitsubishi Electric Corporation, and other significant players
Read the full report: https://www.reportlinker.com/p06288780/?utm_source=GNW
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