USD 3.07 billion
Side View Camera System Market Size, Share, Growth Analysis, By By Type(Single camera, Multi camera), By By Application(Passenger, Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2131 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
80
Side View Camera System Market Insights
Global Side View Camera System Market size was valued at USD 3.07 billion in 2022 and is poised to grow from USD 3.62 billion in 2023 to USD 13.32 billion by 2031, growing at a CAGR of 17.7% in the forecast period (2024-2031).
In recent years, driven by automotive technology advancements, changing consumer preferences, and increasing safety concerns, the global side view camera system market has witnessed substantial growth. This system, which typically consists of cameras set on both sides of vehicles so that drivers are aware of blind spots, has become vital in modern vehicles.
The need to reduce accidents due to blind spots and the focus on driver and passenger safety has driven this market. Side view camera systems enable safer and easier parking maneuvers and lane changes as they enhance driver visibility. Regulatory bodies worldwide have started to make the inclusion of such systems in new vehicles mandatory, boosting market growth.
The increasing adoption of side view camera systems is driven by the rise of electric and autonomous vehicles. These vehicles are often integrated with advanced driver-assistance systems (ADAS), thus requiring HD cameras for obstacle detection, navigation, and enhanced situational awareness.
Consumers are prioritizing safety, advanced technology, convenience, and comfort in their vehicles. Side view camera systems offer a variety of benefits including, but not limited to, curb view, parking assistance, and 360-degree surround view, thus enhancing overall driving experience.
The market is marked by fierce competition, with a number of major participants vying to supply cutting-edge and reasonably priced solutions, including automakers and technology suppliers. System providers can benefit from the noticeable trend of integration with other car systems, like infotainment and navigation.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Multi Camera
Fastest Growth
Single Camera
Growth Rate
17.7% CAGR
Global Side View Camera System Market ($ Bn)
Country Share for North America Region (%)
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Side View Camera System Market Segmental Analysis
Based on Type, the market division gives us the Single camera and Multi camera segments. Dividing the market based on region results in segments including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Application-based market segmentation leaves us with the Passenger and Commercial categories.
Analysis By Type
Multi-camera systems are presently the most prominent category in the worldwide side view camera system sector. These systems offer a thorough perspective of the environment around the car, improving safety for the driver and helping with lane changes, parking, and navigation. The growing use of driverless vehicles and advanced driver assistance systems (ADAS) has increased demand for multi-camera systems. In order to provide a 360-degree view, automakers are incorporating several cameras into their cars, which is essential for autonomous driving capabilities. Multi-camera systems are preferred as safety standards become more strict because of their ability to provide a comprehensive view, decreasing blind spots and improving overall vehicle safety.
However, the market segment with the quickest growth in the market is single camera systems, gaining traction typically in mid-range and entry-level vehicles. These systems are an important stepping stone towards more advanced ADAS features while also being cost-effective. The common uses of single cameras include forward collision and lane departure warnings, along with pedestrian detection. The demand for single-camera systems is increasing rapidly due to these safety features becoming the new standard or being highly desired in vehicles across different price ranges. Automakers looking to improve safety without incurring significant vehicle costs are driven to this segment, for their affordability and effectiveness.
Analysis By Application
The dominant segment in the market is the Passenger application, owing its position to the increasing demand for convenience features and advanced safety in passenger vehicles. Consumers looking for added safety and ease of use in their cars naturally opt for side view camera systems for their enhanced visibility and assistance in parking and lane changes, along with its ability to avoid blind spots.
On the other hand, the fastest-growing market segment is the Commercial application, owing this title to the increasing adoption of side view camera systems in commercial vehicles like buses, trucks, and delivery vans. The benefits of these systems in reducing accidents, improving overall safety, and lowering maintenance costs is not going unseen by commercial vehicle operators and fleet managers. The accelerated adoption of side view camera systems in this segment can be attributed to the required installation of advanced safety technologies in commercial vehicles according to regulatory mandates in some regions.
Global Side View Camera System Market By Type
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Side View Camera System Market Regional Insights
The market for side view camera systems has normally been led by North America. The region’s top position is owed for several reasons. North America’s strict safety standards have led to a growing need for ADAS like side view camera systems. The heightened integration of advanced automotive safety technologies in vehicles across the US and Canada have also contributed to this region’s dominance. This region is also home for several technology companies that specialize in ADAS. This and the region’s thriving automobile industry has cemented its place at no.1 in the market.
Though North America’s prominence in the market can not be denied, the APAC legion is witnessing speedy expansion. Nations like China, South Korea, and Japan have placed the region as the fastest-growing market regions. The automotive sector in the APAC region is thriving, and has resulted in a heightened need for ADAS like side view camera systems. Additionally, the region is worried about road safety in the midst of high traffic rates, fueling the demand of the market. Even the region’s governments are supporting the mandatory adoption of safety features in automobiles, driving the adoption of side view camera systems. The APAC region has also seen a rising need for these devices in passenger and commercial vehicles. Resulting from the culmination of these factors, the Asia-Pacific region has experienced explosive growth.
Global Side View Camera System Market By Region
- Largest
- Fastest
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Side View Camera System Market Dynamics
Drivers
Rising Interest in Advanced Driver Assistance Systems (ADAS):
- The global interest in ADAS has driven the demand for side view camera systems. These technologies are loaded with features like detection of blind spots, warning if a vehicle changes lanes without meaning to, and assistance in parking. Side view cameras can give access to video feeds in real-time. This is useful in a number of tasks. These include collision prevention, parking, and safe lane changing. As automobile producers integrate ADAS more often in their products, the demand for side view camera systems will keep rising.
Vehicle Safety Regulations and Consumer Demand:
- Governments around the world have established strict rules for ensuring vehicle safety. This has resulted in an increased adoption of side view camera systems. These devices can improve visibility, making it easier to avoid blind spots and improve overall safety. Consumers have fueled the need for advanced features like side view camera systems. This is due to their wish to have a satisfactory driving experience with less accident risk.
Restraints
Integration and Compatibility Challenges:
- The already existing designs and parts of vehicles can give consumers a hard time to install side view camera systems. Their lack of adaptability can slow down their adoption. This complex issue can be perfectly captured in the integration of side view camera systems in older vintage cars that have limited installation space. Th indeed to standardize communication protocols and interfaces among the ADAS ecosystem can also complicate integration. This can hamper market growth.
High Initial Costs:
- The financial burden that the installation and purchase of side view camera systems can incur can deter financially restricted consumers. The added expenses of procession units, advanced camera technologies, and sensors, can end up in a hefty tag. Though the advancements in technologies and higher production capacity of the automobile sector may drive initial costs down over time. Hopefully, this can nip this problem for market growth in the bud.
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Side View Camera System Market Competitive Landscape
The global side view camera system market is defined by a quickly changing landscape and fierce competition among major automotive technology companies and manufacturers. Some prominent companies dominating the market are Continental AG, Panasonic Corporation, Robert Bosch GmbH, Magna International Inc., Valeo SA, and Aptiv PLC.
In order to enhance their side view camera system technology and make it advanced and efficient, these companies are targeting major investments in R&D. To enhance vehicle safety, these companies place emphasis on features such as HD cameras, integration with advanced driver-assistance systems (ADAS), and improved image processing.
Additionally, common strategies to expand market reach include partnerships and alliances with automobile manufacturers. The increasing use of ADAS and the transition to autonomous vehicles, which need advanced camera systems for increased visibility and safety, are what are driving the demand for side view camera systems.
The competition in the side view camera system market is predicted to heat up as regulations promoting vehicle safety and environmental concerns keep changing, driving innovation, product differentiation, and cost-effectiveness.
Top Player’s Company Profile
- Ambarella, Inc. (United States)
- Denso Corporation (Japan)
- Mobileye N.V. (Israel)
- Texas Instruments Incorporated (United States)
- Panasonic Corporation (Japan)
- Continental AG (Germany)
- Stoneridge, Inc. (United States)
- Aptiv PLC (Ireland)
- Gentex Corporation (United States)
- Robert Bosch GmbH (Germany)
- ZF Friedrichshafen AG (Germany)
- Valeo SA (France)
- Autoliv Inc. (Sweden)
- WABCO Holdings Inc. (Belgium)
- Magna International Inc. (Canada)
- Mekra Lang GmbH & Co. KG (Germany)
- Murakami Corporation (Japan)
- Clarion Co., Ltd. (Japan))
- Seeing Machines (Australia)
- Ficosa International S.A. (Spain)
- Leopold Kostal GmbH & Co. KG (Germany)
- SL Corporation (South Korea)
- Renesas Electronics Corporation (Japan)
- Hyundai Mobis Co., Ltd. (South Korea
- Samvardhana Motherson Automotive Systems Group (India)
Recent Developments
-
In April 2023, Valeo, one of the key global automotive suppliers who focus on major automakers, introduced their side view camera system which was very advanced. The blind spot monitoring system is built upon an AI algorithm that makes it possible for it to properly detect and follow objects in blind spots, alerting drivers about the potential risks of collision and increasing over all road safety.
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In February 2023, Continental, the German multinational technology company specializing in automotive solutions, announced that they are launching an improved side view camera system that includes thermal imaging capabilities. This feature ensures uncluttered vision of the road due to low light environments such as night driving or severe fog season thereby leading to overall driving safety.
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In March 2023, Bosch, an internationally recognized technology, software and services supplier in mobility solutions, launched a new camera system aimed at improving safety on roads around the world. Such a unique advancement gives you a 360- degree view of the vehicle surroundings, which makes the driver’s concern of being involved in an accident a thing of the past.
Side View Camera System Key Market Trends
- Transition to Electric and Autonomous Vehicles: The side view camera system market is being heavily influenced by a key market trend. That is the speedy shift to autonomous and electric vehicles. EVs and driverless vehicles often employ advanced sensors and camera systems. These technologies add bonus features to these cars to guarantee optimal performance. These include self-parking and parking assistance. The increasing need for side view camera systems is mirrored in the rising adoption of these vehicles.
- Growing Emphasis on Vehicle Safety and Advanced Driver Assistance Systems (ADAS): ADAS (Advanced Driver Assistance Systems) have grown popular among the global population. This has resulted from the automotive sector's focus on improving vehicle safety. Side-view camera systems can do that as it assists in parking and lane changes, along with accelerating blind spot detection. ADAS packages include the integration of these devices in vehicles. This has become a common practice due to the heightened requirement of safety features mandated by governments. Automakers are striving to make this a standard addition in their products as technologies evolve and become more available.
Side View Camera System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global side view camera system market has experienced significant growth owing to a number of factors, like the growing emphasis on vehicle safety and the need to reduce blind spots. The automotive industry, where side view camera systems are being increasingly used for safety and convenience features has driven market growth.
ADAS (advanced driver-assistance systems), like side view camera systems, are gaining popularity among consumer vehicles. With the use of side view camera systems, drivers can get a clear 360° view of their surroundings. This lowers the chance of accidents, thus prioritizing safety. It is exceptionally useful in lane changes, as well as parking maneuvers. Some regions have mandated the integration of safety features like side view cameras necessary. This has led to further market expansion.
EVs and self-driving automobiles are growing in demand. These vehicles extensively adopt side view camera systems, fueling market growth. Side view camera systems are needed in times of integrating sensors in autonomous vehicles. This inclusion will only enhance their perception capabilities. Bonus features like night vision and 360-degree view have developed with technological advancements. This has raised the preference of side view camera systems among consumers.
The global side view camera system market will steadily expand due to a number of reasons. The globe’s focus on safety, coupled with regulatory requirements and a transforming automotive landscape, will drive market growth. The increasing demand for electric and autonomous automobiles will be reflected in this market’s demand. We can expect further expansion and innovation in this market in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.07 billion |
| Market size value in 2031 | USD 13.32 billion |
| Growth Rate | 17.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Side View Camera System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Side View Camera System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Side View Camera System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Side View Camera System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Side View Camera System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Side View Camera System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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