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Side View Camera System Market Size, Growth Analysis, Share, Key Trends And Forecast To 2033
Side View Camera System Market Size
As per the report, the side view camera system market size has grown exponentially in recent years. It will grow from $1.92 million in 2023 to $3.57 million in 2024 at a compound annual growth rate (CAGR) of 85.9%. The side view camera system market size is expected to see exponential growth in the next few years. It will grow to $42.72 billion in 2028 at a compound annual growth rate (CAGR) of 86%.
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Impact of Rising Vehicle Numbers on the Side View Camera System Market
The increasing demand for vehicles is expected to propel the growth of the side-view camera system market going forward. Vehicles are increasing on roads due to population growth, urbanization, and economic development, leading to higher vehicle ownership and improved accessibility to transportation infrastructure. A side-view camera system helps vehicles on roads by providing drivers with enhanced visibility of their blind spots and improving safety during lane changes and parking maneuvers. For instance, according to the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts, an Australia-based government department for delivering Australian government policy and programs, as of January 31, 2022, there were 20.7 million registered motor vehicles, marking a 2% increase from January 2021. Battery electric vehicles (BEVs) totaled about 40,000, showing a 100% increase from 2021, with 34,200 being passenger cars in 2022, up by 118% from 2021. Hybrid-electric vehicles (HEVs) numbered approximately 277,000 in 2022, reflecting a 35% increase from 2021. Therefore, increasing vehicle demand will drive the side-view camera systems market.
Advancements in Camera-Based Speed Assist Systems for Vehicle Safety
Major companies operating in the side view camera system market are advancing camera technology with speed assist systems in cameras to improve safety features and enhance object detection accuracy. A speed assist system in cameras detects and monitors vehicle speeds in real-time, providing alerts to drivers if they exceed speed limits or approach vehicles too fast. For instance, in July 2023, Mobileye Global Inc., an Israel-based autonomous driving company, launched the first camera-only intelligent speed assist. The camera-only solution allows original equipment manufacturers (OEMs) to comply with the new EU General Safety Regulation (GSR), which mandates the inclusion of sensors in all new vehicles to detect speed limits automatically. Mobileye's Intelligent Speed Assist (ISA) is pioneering in meeting this requirement without dependence on third-party maps or GPS data. Instead, it identifies traffic signs and other visual cues in the vehicle's vicinity.
The side view camera system market covered in this report is segmented -
1) By Component: Camera, Electronic Control Unit (ECU), Display, Other Components
2) By Technology: Infrared Camera, Thermal Camera, Digital Camera
3) By Mounting Location: Body Mounted, Door Mounted
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
5) By Application: Park Assist System, Driver Monitoring System, Blind Spot Detection, Night Vision System, Other Applications
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Major companies operating in the side view camera system market are Bayerische Motoren Werke AG, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis, Magna International Inc., Valeo SA, Aptiv PLC, Kyocera Corporation, Autoliv Inc., HELLA GmbH & Co. KGaA, Samsung Electro-Mechanics, Lexus, Visteon Corporation, Pioneer Corporation, Gentex Corporation, Mobileye, OmniVision Technologies, Stoneridge, Kappa Optronics GmbH, SL Corporation
Contents of the report:
1. Executive Summary
2. Side View Camera System Market Report Structure
3. Side View Camera System Market Trends And Strategies
4. Side View Camera System Market - Macro Economic Scenario
5. Side View Camera System Market Size And Growth
…..
27. Side View Camera System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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