Automotive Surround View Systems Market Analysis 2018 Research Report
Global Automotive Surround View Systems Market Information Report, By Type (4 Camera, 6 Camera and Others), By Camera Functioning (Automatic and Manual), By Vehicle Type (Passenger Vehicles and Commercial Vehicles), By End Market (OEMs and Aftermarket) and By Region - Forecast To 2023.
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Market Highlights:
The automotive industry has witnessed remarkable development in the past few years, where technologies have played a crucial role in the growth of the industry. Technology in automotive, has become one of the first choices for the automotive manufacturers. Over the years, several technologies have gained much attention as well as they have been implemented in vehicles.
Automotive surround view system is one of the technologies that have been noticed and have given the automotive market growth momentum. Automotive surround view system is a technique, in which the embedded camera provides top view, rear view and panorama view to the driver. The functioning of the camera can be done either manually or automatically. This is an innovative and emerging automotive driver assistance system (ADAS) technology, which is expected to have remarkable growth rate during the forecast period.
During the last few years, the demand for automotive surround view systems, been increased, owing to its various advantages. As a result, the sales of new vehicles have advanced from the past years. Additionally, the growing use of automotive driver assistance system technology has also boosted the demand for automotive surround view system. Moreover, increased spending on research & development in automotive industry, and growing safety concern among end users, are likely to fuel the demand for automotive surround view systems, among users. However, the higher installation cost, and strict government regulations on getting NOC for installation of this technology into vehicles, have majorly been restraining the growth of automotive surround view system market. The growing awareness of camera based technologies, and increasing sale of high end vehicles, are the major trends of global automotive surround view system market. As per MRFR analysis, the global automotive surround view system market is expected to grow at the CAGR of approximately 9.6% by the end of forecast period.
For this study, the global automotive surround view system market has been divided on the basis of type, camera functioning, vehicle type, end market and region.
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