An automotive multi-angle monitor system is used as, which captures images with cameras mounted at the front, back, and on both mirrors of a vehicle. The system displays a 3 dimensional (3D) or 2 dimensional (2D) 360 ° birds-eye view around the vehicle. The system has great importance from the driver’s point of view, as the system displays a visual of the vehicle’s surroundings. It enables the driver to take decisions accordingly, while driving. This system is helpful while parking the vehicle manually, reversing the vehicle, and turning the vehicle.
Generally, a multi-angle monitor system consist of four to six cameras mounted around the vehicle body, facing at different angles to capture a 360o view. A composite view of the surroundings of the vehicle is synthesized and displayed using the inputs of these cameras. This system is known by different names such as surround vision monitoring system, multi-angle vision system, bird’s eye view vision system, and multi-camera vision system.
Safety is a major concern for the global automotive market. Increased number of accidents have prompted customers to adopt safety technologies. Governments across the globe have mandated several safety systems for passenger vehicles. This in turn has boosted the demand for safety technologies such as Advanced Driver Assist System (ADAS). The multi-angle monitor system likely to play a vital role in ADAS for safety purposes. Sometimes cameras mounted for capturing images cannot function properly when the view is not clear. However, technologically advanced cameras have eliminated this problem. These cameras are able to capture images even in low light conditions. Continuous research and developments in the field of automotive safety systems and increased emphasis on semi-autonomous vehicles have fuelled the demand for multi-angle monitor systems.
However, a primary restraint to this system is possibility of electronic components malfunctioning.
The system fails to perform in some conditions such as rain, snow, and moist weather.
The automotive multi-angle monitor system market can be segmented based on vehicle, technology components, and geography. Based on vehicle, the market can be segmented into passenger vehicles (PVs), light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Multi-angle monitor systems can be integrated into all types of vehicles. In terms of technology, the automotive multi-angle monitor system market can be segregated into 2D system and 3D system. 2D systems were the basic version of multi-angle monitor technology. This system projects a 2D view of the images captured by the cameras. While in 3D systems, a clearer 3D view of the surroundings is generated. 3D systems are mostly preferred by users.
In terms of components used, the automotive multi-angle monitor system market is divided into multi-angle monitoring system with radar sensors and multi-angle monitoring system without radar sensors. The system without radar sensors utilizes only cameras for capturing images. The multi-angle monitor system with radar sensors utilizes different sensors so that the system can also operate at night and in low vision conditions.
Based on geography, the automotive multi-angle monitor system market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa, and the Rest of the World. Asia Pacific is a prominent market for automotive, where demand for safety systems such as multi-angle monitor system is considerably high. Automation in vehicles such as driverless cars has boosted the demand for automotive safety systems in developed regions such as North America and Europe.
Electronic systems are required to be reliable and accurate. Therefore, well-established manufacturers of electronic systems are preferred by the consumers. Key players, which are considered as reliable by users and holding large stake of automotive multi-angle monitor system market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Delphi automotive LLP, Fujitsu, and Valeo.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.