Surround View System Market : Size, Share & Forecast by Vehicle Type, Camera Count, Components & Operation (2023-2032)

Surround-view system refers to an intelligent camera system that displays a full 360°view of the vehicle on the LCD screen located on the dash. These systems play an essential role in assisting the driver in parking and guiding the vehicle. They also provide additional advantages, such as providing a clear vision of all elements, eliminating blind spots, reducing driver distraction, and improving traffic safety. These systems have evolved over time from low-resolution cameras to high-resolution cameras, that provide a real-time -bird eye view of the vehicle and its surroundings. These benefits encourage the installation of these systems in modern cars.

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COVID-19 Impact Analysis

The COVID-19 outbreak has widely disrupted the automotive industry. It has resulted in the shutdown of manufacturing facilities and a drop in the sales volume. Furthermore, the demand for both commercial and passenger vehicles has shown a decline in 2020. This decline, as expected, will affect the surround view system industry adversely, as vehicle production is directly proportional to the surround view system industry. The budget allocation for R&D is expected to reduce, which will hamper the innovation of automotive headrests., The companies, however are taking precautionary measures to combat the adverse effects of the outbreak.

Top Impacting Factors
Increase in demand for safe vehicles across the globe, advancements in technology leading to affordable camera-assisted safety technologies and increase in trend of autonomous vehicles drive the growth of the global surround view system market.

Higher installation cost and strict government regulations on getting NOC for installation of this technology into vehicles hinder the growth of the global surround view system market.

Rise in adoption of Automotive Driver Assistance System (ADAS) technology provide lucrative opportunities for the global surround view system market.

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Market Trends

Rise in Penetration of Advanced Driver Assistance System (ADAS)

Advanced Driver Assistance Systems (ADAS) are systems that monitor, warn and manage the vehicle when the driver performs partial and complete overtaking. It detects road hazards using vehicle sensors and offers a full picture in addition to warning sounds. In this way, it assists the driver to concentrate on driving when driver is unable to focus and needs assistance to control the vehicle. The growing desires for driving comfort and safety features as well as the demand for luxury cars drive the growth of the Advanced Driver Assistance Systems (ADAS). Furthermore, rising demand for electric vehicles (EV), strict vehicle safety laws and regulations, ongoing sensor technology development, and the necessity to incorporate ADAS into high-end vehicles are some more factors influencing the growth of ADAS during the forecast period. Advancements in the automotive advanced driver assistance systems (ADAS) technologies have led to an increase in

surround-view systems sales, and it is expected that increased adoption of ADAS technology will provide significant opportunities for the global surround view system market during the forecast period.

Key Benefits of the Report:

This study presents the analytical depiction of the surround view system industry along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with challenges of surround view system market.

The current market is quantitatively analyzed to highlight the growth scenario of the surround view system market.

The report provides a detailed surround view system market analysis based on competitive intensity and the competition that will take shape in coming years.

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Questions Answered in the Surround View System Market Research Report:

Who are the leading market players active in the surround view system market?

What would be the detailed impact of COVID-19 on the market?

What are the current trends that would influence the market in the next few years?

What are the driving factors, restraints, and opportunities in the surround view system market?

What are the future projections that would help in taking further strategic steps?

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