Research Nester assesses the growth and market size of global side view camera system market which is anticipated to be on account of the growing demand in the market for premium and luxury cars.
New York – March 18, 2024 - Research Nester’s recent market research analysis on “Side View Camera System Market: Global Demand Analysis & Opportunity Outlook 2036” delivers a detailed competitors analysis and a detailed overview of the global side view camera system market in terms of market segmentation by camera type, component, vehicle type, application, technology, mounting location, sales channel, and by region.
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Growing Concern for the Safety on Roads to Promote Global Market Share of Side View Camera System
The utilization of side view camera systems has surged due to the growing appeal of electric and driverless cars. In addition to them, technical advancements have significantly improved the reliability and performance of mono camera systems. These developments have solved problems with image quality and low-light performance, which makes mono cameras a sensible and efficient choice for usage in automotive applications.
Some of the major growth factors and challenges that are associated with the growth of the global side view camera system market are:
Growth Drivers:
• Surge in Advanced Driver Assistance Systems (ADAS)
• Rising Regulations for Vehicle Safety and Customer Demand
Challenges:
Customers may find it difficult to install side view camera systems because of current car designs and components. Their lack of adaptability can hinder their adoption. One great illustration of this difficult task is the installation of side view camera systems in older, antique cars with constrained installation space. Integration might actually become more challenging as a result of the ADAS ecosystem's efforts to standardize interfaces and communication protocols. Inconvenient system failures and challenges with integration and compatibility are some of the major factors anticipated to hamper the global market size of side view camera system.
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By camera type, the global side view camera system market is segmented into single camera system and multi camera system. The multi camera system segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. These systems offer a thorough perspective of the area around the car, improving safety for the driver and helping with parking, lane changes, and navigation. The growing use of driverless vehicles and advanced driver assistance systems (ADAS) has increased demand for multi-camera systems. In 2019, some 31 million cars worldwide were running partially or fully automated. To achieve the 360-degree vision required for autonomous driving, automakers are equipping their vehicles with several cameras. Multi-camera systems are advised as safety standards become more stringent because they provide a complete view, minimizing blind spots and improving overall vehicle safety.
By region, the Europe side view camera system market is to generate the highest revenue by the end of 2036. This growth is anticipated because automobiles with safety and comfort amenities are becoming more and more popular throughout the region. The side-view camera system market is anticipated to grow rapidly due to the existence of significant original equipment manufacturers, such as Ficosa International SA, Valeo, and Denso Corporation, which have significant capabilities for vehicle safety feature research and development. Given the robust automotive industry in the region and the significant investments made in ADAS research and development by well-known manufacturers such as BMW AG, Mercedes-Benz, and Audi AG, the side view camera system market in Germany is predicted to grow at a 30% CAGR by 2029. According to predictions from the European Automobile Manufacturers Association, there would be approximately 47 billion passenger cars in the nation as by 2022.
This report also provides the existing competitive scenario of some of the key players of the global side view camera system market which includes company profiling of Ambarella, Inc., Texas Instruments Incorporated, Continental AG, Valeo SA, Stoneridge, Inc., Aptiv PLC, Magna International Inc., ZF Friedrichshafen AG, Robert Bosch GmbH, and others.
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