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Asia-Pacific Multi Camera System Market Expected to Witness Significant Growth in Coming Years Owing to Rising Consumer Demand for Safety Features and Technology
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On the basis of function, the Asia-Pacific multi camera system market is bifurcated into parking and ADAS. ADAS system provides assistance to the driver and significantly improves the drivers experience. During the forecast period, ADAS is expected to hold a larger share in the industry, driven by regulatory mandates and consumer interest in safety applications. For instance, both the European Union and the U.S. plan to mandate that all new vehicles must be equipped with autonomous emergency-brake systems and forward-collision warning systems, by 2020.
On the basis of vehicle type, the industry is bifurcated into passenger car and commercial vehicle. The passenger car category is expected to hold a larger share in the Asia-Pacific multi camera system market during the forecast period, due to high production of passenger cars in the region coupled with the increasing preference of passenger car customers toward advanced safety features.
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The Asia-Pacific multi camera system market is competitive due to the presence of a considerable number of manufacturers. The leading vendors in the industry are Robert Bosch GmbH, Continental AG, and Delphi Technologies PLC, which together constitute considerable share in the total sales of multi camera system. Some other key players of the industry include Ambarella Clarion Co. Ltd., Magna International Inc., NXP Semiconductors N.V., OmniVision Technologies Inc., Samvardhana Motherson International Limited, DENSO Corporation, Valeo SA, and Xilinx Inc.
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