The Infinium Global Research analyzes the Automotive Side View Camera System Market over the period of 2021 to 2027. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global automotive side view camera system market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of automotive side view camera system. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the automotive side view camera system market during the period. The global automotive side view camera system market was nearly worth USD 1 billion in 2021 and is expected to reach up to USD 25 billion by 2027, growing with a CAGR of 71% over the forecast period of 2021-2027.
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The Growing Demand for Autonomous Vehicles and Electric Vehicles Will Provide A Significant Growth Opportunity for the Market
The automobile industry faces a significant problem due to a slowdown in the economy/gross domestic product (GDP). The COVID-19 outbreak is affecting tourism, traveling, and auto shows. Auto shows are a platform for the launching of new automobile vehicles, discussion & proposal of new technologies and to attract & create interest in automobile lovers. Several auto shows have been postponed or canceled due to which the launching of new automobiles has been postponed and expected investments are delayed. Fuel consumption accounts for a significant part of the cost during a heavy vehicle´s lifetime. Therefore, the leading manufacturers are striving to reduce the weight of the vehicles and in addition improve the aerodynamics. By replacing the rear-view mirrors on the trucks with a camera monitor system (CMS) the aerodynamics can be improved and the fuel consumption, therefore, decreased, additionally increasing the visibility while driving. CMS is a combination of cameras placed outside the vehicle with corresponding monitors installed inside the cab aimed to improve the driver's view of the areas hidden from direct view.
Currently, there are different possibilities for camera placement in cars enabling the driver to expand the rear-view, front view, or provide additional views minimizing the blind spots. It is not unlikely that the legal requirements may also allow for the replacement of class II and IV mirrors corresponding to main and wide-angle rear-view mirrors in heavy trucks in the near future. Digital mirrors offer new possibilities for vision enhancements as well as additional information that could facilitate driving in ways not feasible with physical mirrors. However, the high cost of research and development is affecting the growth of the market. Moreover, the growing demand for autonomous vehicles and electric vehicles will provide a significant growth opportunity for the market.
The Asia Pacific Dominates the Automotive Side View Camera System Market
The Asia Pacific dominates the automotive side view camera system market. An increase in the production of vehicles across the region is contributing to the growth of the market in this region. Furthermore, growing safety standards in vehicles across the region is fuelling the vehicle manufacturers to integrate side-view camera in their vehicles. Moreover, the presence of major automotive parts manufacturers across emerging markets like China, India, and Japan is anticipated to propel the automotive side-view camera system market in the Asia Pacific.
Automotive Side View Camera System Market: Segmentation
The report on the global automotive side view camera system market covers segments such as camera type, component, and vehicle. On the basis of camera type, the sub-markets include single camera, and multi-camera. On the basis of component, the sub-markets include camera, ECU, and display. On the basis of vehicle, the sub-markets include passenger car, and commercial vehicle.
Automotive Side View Camera System Market: Competitive Analysis
The report provides profiles of the companies in the market such as Hyundai Mobis, Continental AG, Valeo, Samvardhana Motherson, Magna International, Robert Bosch, Denso Corporation, Samsung Electro-Mechanics, Panasonic Corporation, and Mitsubishi Electric.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the automotive side view camera system.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2027.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.