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Global Market for Bus Rear-view Cameras (RVCs) to Advance Due to Rising Safety Concerns, Technological Advancement
MarketResearchReports.biz has recently announced the addition of the report titled, “Global Bus Rear-view Camera (RVC) Market 2017-2021” to its depository. The report offers a detailed analysis of the leading segments, growth drivers, market opportunities, and restraints in the global market for bus rear-view cameras. The growth graph of the prominent market players, their key business strategies, and market shares have also been revealed in the report.
The augmenting demand for reliable safety solutions has been a primary catalyst of the global market for bus rear-view cameras. As the concerns about the safety of pedestrians as well as passengers is being increasingly acknowledged across several regions of the world, the global market for bus rear-view cameras is slated for substantial expansion.
Automobile manufacturers are therefore incorporating safety systems. They are increasingly equipping their vehicles with numerous driver assistance systems including night vision systems, surround-view systems, forward collision warning (FCW), and pedestrian protection systems, apart from the integration of rear-view cameras in buses.
The deployment of wide angle camera technology has been identified as a key trend in the global market for bus rear-view cameras. Governments across the globe have been promoting the adoption of rear-view cameras in buses. The driver’s blind spots are captured by rear-view cameras, significantly reducing the risk of accidents on roads by extending the field of vision of drivers. Moreover, technological advancement in the field of automobile rear-view cameras is also aiding the growth of the market.
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By end user, the global market for bus rear-view cameras has been segmented into original equipment manufacturers (OEMs) and aftermarket. Of these, the OEMs segment emerged at the fore in 2016. The growth of this segment can be attributed to growing demand for safety devices in larger automobiles and public vehicles. The declining costs of technology, fueled by intensifying competition, can create further growth opportunities for this segment.
By geography, the global market for bus rear-view cameras can be segmented into the APAC, the Americas, and Europe, the Middle East, and Africa (EMEA). The countries in Asia Pacific such as China and India are likely to surface as key revenue contributors, thanks to early adoption of rear-view cameras in buses. China in particular has been luring customers via its innovative driving assist and parking systems.
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A number of original equipment manufacturers (OEMs) and automobile manufacturers are working on enhancement of the output of wide angled cameras, ensuring that the market keeps flourishing over the next few years. For instance, Japan-based Maxell, a notable provider of optical technologies recently launched a wide range of advanced wide angled camera lenses that feature aspherical plastics.
Rear View Safety, STONKAM, Vision Techniques, Luminator Technology, Lintech Enterprises, Veise Electronic, and Rostra Precision Controls, Inc. are some of the major companies operating in the global market for bus rear-view cameras.
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