Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The "Automotive Surround View Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive surround view systems market made significant strides in 2022, achieving a total value of US$ 4.5 Billion.
The market is poised for substantial expansion, with expectations of reaching US$ 11.4 Billion by 2028. This growth trajectory signifies a robust Compound Annual Growth Rate (CAGR) of 16.8% during the period from 2023 to 2028.
Understanding Automotive Surround View Systems:
Automotive surround view systems are intelligent camera systems that provide a comprehensive 360-degree view of the vehicle on an LCD screen mounted on the dashboard. These systems play a pivotal role in assisting drivers during parking and maneuvering, eliminating blind spots, enhancing safety, and reducing driver distractions.
Over the years, these systems have evolved from low-resolution to high-resolution cameras, offering real-time bird's-eye views of the vehicle and its surroundings. Their advantages have led to widespread adoption in modern automobiles.
Advancements in automotive Advanced Driver Assistance Systems (ADAS) technologies have spurred the sales of automotive surround view systems.
Manufacturers are investing in research and development to enhance accuracy and introduce advanced features. For instance, sonar-based systems are now available to gauge distances between obstacles and provide warnings when objects approach each other.
Key Market Segmentation:
The report provides a comprehensive analysis of key market segments, including:
- Type: Touch Screen Control, Infrared Remote Control, Others
- Functioning: Automatic, Manual
- Vehicle Type: Commercial Vehicles, Passenger Vehicles
- End-User: Aftermarket, OEMs
- Region: Europe, North America, Asia Pacific, Middle East and Africa, Latin America
Competitive Landscape:
The competitive landscape features key players in the industry, 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., and others.
Key Questions Answered:
- Market Size: What was the size of the global automotive surround view systems market in 2022?
- Growth Rate: What is the expected growth rate of the global automotive surround view systems market during 2023-2028?
- Impact of COVID-19: What has been the impact of COVID-19 on the global automotive surround view systems market?
- Key Drivers: What are the key factors driving the global automotive surround view systems market?
- Segmentation: What is the breakup of the global automotive surround view systems market based on functioning, vehicle type, and end user?
- Regional Markets: What are the key regions in the global automotive surround view systems market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $4.5 Billion |
| Forecasted Market Value (USD) by 2028 | $11.4 Billion |
| Compound Annual Growth Rate | 16.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/u07mgr
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