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Automotive Surround View System Market: Introduction

  • Rise in demand for safety features in a vehicle is expected to drive the global automotive surround view system market. The preference for safety ratings of automobiles is a key factor driving rapid transformation of the automotive and mobility sectors.
  • Automotive surround view system has embedded cameras that provide top view, rear view, and panorama view to the vehicle driver. The cameras can be operated either manually or automatically. The camera feedback can be viewed on the dashboard-mounted screen. This technology helps the driver during vehicle parking, narrow pathways, or maneuvering through highway traffic.

Key Drivers of Automotive Surround View System Market

  • Increase in demand for safe vehicles across the globe is expected to be a key factor boosting the global automotive surround view system market. Modern vehicles possess various safety features including global positioning system (GPS), biometric lock/unlock of vehicle, and remote vehicle locking/unlocking and surround view system. An automotive surround view system coupled with the park assist system can capture and display, onscreen, the area surrounding the car from a virtual 3D view. The perspective moves dynamically, depending upon the trajectory of the car, providing a 360° view around the car. This enables the driver to view the entire vehicle surrounding, which helps during parking and maneuvering. Increased demand for such features among passengers is prompting automakers to provide these features in their vehicles. Additionally, aftermarket players are providing retrofit of automotive surround vie systems in existing vehicles at affordable costs.
  • Increased trend of autonomous vehicles is expected to drive the global automotive surround view system market. The AI in an autonomous vehicle uses vehicle cameras to drive safely on the road. Additionally, automotive systems, such as automotive driver assistance system (ADAS) technology that uses vehicle sensors and cameras to sense obstacles on the road, can provide a surrounding view in addition to warning sounds. Therefore, a rise in adoption of ADAS technology is expected to offer significant opportunity for the global automotive surround view systems market during the forecast period.

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Impact of COVID-19 Pandemic on Global Automotive Surround View System Market

  • Disruptions in supply chain catering to the automobile industry, owing to the shutdown of production and manufacturing facilities caused by the coronavirus pandemic across the world, is estimated to contract the market in 2020-2021. Consequently, the coronavirus pandemic has hampered the global automotive surround view system market.
  • The market is anticipated to recover by increasing production volume of vehicle components as well as vehicles in 2021. This, in turn, is projected to offer lucrative opportunity to players operating in the supply chain of the automotive surround view system market during the forecast period.

North America and Europe combined to Account for Prominent Share of Global Automotive Surround View System Market

  • In terms of region, the global automotive surround view system market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa
  • North America and Europe have presence of economically stable countries. These regions are home to technologically advanced research institutes catering to the development of vehicle safety and comfort technologies.
  • Both North America and Europe are witnessing a rise in the demand for luxury vehicles such as premium sedans and SUVs. Automakers provide surround view system in such vehicles as a part of a luxury feature.
  • Major automakers and aftermarket players have also established their technological centers and manufacturing facilities in various countries in these regions including the U.S., Germany, the U.K., and France.
  • All the factors mentioned above are likely to boost the adoption of automotive e-surround camera systems and subsequently, propel the market in North America and Europe

Key Players Operating in Automotive Surround View System Market

The global automotive surround view system market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive surround view system market are:

  • BorgWarner Inc.
  • Clarion Co. Ltd.
  • Continental AG
  • Fujitsu Ltd.
  • Gazer Ltd.
  • Intel Corp.
  • NXP Semiconductors.
  • OmniVision Technologies Inc.
  • Renesas Electronics Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Texas Instruments
  • Valeo SA

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Global Automotive Surround View System Market: Research Scope

Global Automotive Surround View System Market, by Vehicle Type

  • Passenger Vehicles
    • Compact
    • Luxury
    • Mid-Size
    • SUV
  • Commercial Vehicle
    • Medium Duty Commercial Vehicle
    • Heavy Duty Commercial Vehicle

Global Automotive Surround View System Market, by Number of Camera

  • 4 Camera
  • 5 Camera
  • 6 Camera
  • Others

Global Automotive Surround View System Market, by Component

  • Sensors
  • Camera
  • ECU

Global Automotive Surround View System Market, by Operation

  • Automatic
  • Manual

Global Automotive Surround View System Market, by Sales Channel

  • OEMs
  • Aftermarket

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
  • Europe
  • 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.

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Automotive Surround View System Market

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