Automotive Surround View Systems Market Update 2023: Predicted to Achieve US$ 11.4 Billion Revenue by 2028 - IMARC Group

IMARC Group has recently released a new research study titled “Automotive Surround View Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

How big is the automotive surround view systems market?

The global automotive surround view systems market size reached US$ 4.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 16.8% during 2023-2028.

What is automotive surround view systems?

An automotive surround view system is a safety and convenience feature that offers a comprehensive, 360-degree view around a vehicle. This is achieved by strategically placing multiple cameras around the car—usually at the front, rear, and sides. The images captured by these cameras are then stitched together through software to create a unified, bird's-eye view. This view is displayed on the vehicle's central screen, helping the driver better understand the vehicle's immediate environment.

Surround view systems are particularly useful when parking, navigating through tight spaces, or performing low-speed maneuvers. They help in identifying obstacles that might not be visible through standard rear-view or side mirrors, such as curbs, poles, or pedestrians. In some advanced systems, dynamic guidelines and object detection features are added to provide real-time assistance to the driver. For instance, the system may issue warnings or show colored indicators to highlight proximity to potential hazards.

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What are the growth prospects and trends in the automotive surround view systems industry?

The global automotive surround view systems market is experiencing significant growth, primarily driven by growing safety concerns among both consumers and regulatory bodies worldwide. Automotive surround view systems offer a critical safety enhancement by providing a comprehensive view of the vehicle's surroundings. This aids in accident prevention, especially in situations involving pedestrians, cyclists, and objects in blind spots.

Furthermore, with rapid urbanization, parking spaces are becoming scarcer and more cramped. Automotive surround view systems make parking easier by providing a 360-degree view of the vehicle's immediate environment. In addition, consumers are increasingly becoming tech-savvy and demand value-added features in their vehicles. Surround view systems have transitioned from being a luxury option to a more common feature across various vehicle segments, driven by consumer demand for advanced safety and convenience features.

In some regions, governments have also introduced regulations that mandate the inclusion of advanced safety features in vehicles. Surround view systems, along with other technologies like backup cameras, are often part of these mandates, further propelling market growth.

Who are the key players operating in the industry?

The report covers the major market players including: 

• Valeo SA
• Magna International
• Continental AG
• Clarion, Denso
• Renesas Electronics
• Aisin Seiki
• Texas Instruments
• Ambarella
• Robert Bosch GmbH
• Xylon d.o.o.
• Mobileye Vision Technologies Ltd.

Key Market Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

• Touch Screen Control
• Infrared Remote Control
• Others

Breakup by Functioning:

• Automatic
• Manual

Breakup by Vehicle Type:

• Commercial Vehicles
• Passenger Vehicles

Breakup by End-User:

• Aftermarket
• OEMs

Breakup by Region:

• Guangdong
• Jiangsu
• Shandong
• Zhejiang
• Henan
• Others

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1650&flag=C

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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