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Technavio Projects $ 5 Billion Growth in Automotive Surround View Systems Market During 2020-2024 | Rising Penetration of ADAS to be a Major Trend | Technavio

December 17, 2020 GMT

LONDON--(BUSINESS WIRE)--Dec 17, 2020--

The global automotive surround view systems market is poised to grow by USD 4.98 billion during 2020-2024, progressing at a CAGR of about 11% during the forecast period. Technavio calculates the market size based on combined revenue generated by vendors operating in the market. Factors such as advancements in technology leading to affordable camera-assisted safety technologies, increased use of electric components in automobiles, and the integration of advanced automotive safety systems are crucial in driving the growth of the market.

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Technavio has announced its latest market research report titled Global Automotive Surround View Systems Market 2020-2024 (Graphic: Business Wire)

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive surround view systems market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by type, which is the leading segment in the market?
    The passenger cars segment led the market in 2019.
  • What are the major trends in the market?
    The rising penetration of ADAS is a major trend in the market.
  • At what rate is the market projected to grow?
    The market is projected to grow at a CAGR of about 11% during 2020-2024.
  • Who are the top players in the market?
    BorgWarner Inc., Clarion Co. Ltd., Continental AG, Fujitsu Ltd., Intel Corp., OmniVision Technologies Inc., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Valeo SA are the top players in the market.
  • What are the key market drivers and challenges?
    The market is driven by the increased affordability of camera-assisted safety technologies. However, the high cost of ADAS might challenge growth.
  • How big is the APAC market?
    APAC dominated the market with a 35% share in 2019.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BorgWarner Inc., Clarion Co. Ltd., Continental AG, Fujitsu Ltd., Intel Corp., OmniVision Technologies Inc., Renesas Electronics Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Valeo SA are some of the major market participants. Although the increased affordability of camera-assisted safety technologies will offer immense growth opportunities, the high cost of ADAS is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this automotive surround view systems market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive Surround View Systems Market 2020-2024: Segmentation

Automotive Surround View Systems Market is segmented as below:

  • Type
    • Passenger Cars
    • Commercial Vehicles
  • Geography
    • Europe
    • North America
    • APAC
    • MEA
    • South America

Based on the type, the market saw maximum growth in the passenger cars segment in 2019. This can be attributed to the high sales of passenger cars worldwide. The market growth in the segment will be significant over the forecast period.

APAC presented maximum growth opportunities for vendors with a 35% market share in 2019. The region is expected to dominate the market during the forecast period. China and Japan are the key markets for automotive surround view systems in APAC.

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Automotive Surround View Systems Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive surround view systems market report covers the following areas:

  • Automotive Surround View Systems Market Size
  • Automotive Surround View Systems Market Trends
  • Automotive Surround View Systems Market Industry Analysis

This study identifies the increasing penetration rate of ADAS and advanced safety systems in commercial vehicles as one of the prime reasons driving the Automotive Surround View Systems Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive Surround View Systems Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive surround view systems market growth during the next five years
  • Estimation of the automotive surround view systems market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive surround view systems market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive surround view systems market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Vehicle type

  • Market segments
  • Comparison by Vehicle type
  • Passenger cars - Market size and forecast 2019-2024
  • Commercial vehicles - Market size and forecast 2019-2024
  • Market opportunity by vehicle type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Overview
  • Landscape disruption
  • Industry risks

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • BorgWarner Inc.
  • Clarion Co. Ltd.
  • Continental AG
  • Fujitsu Ltd.
  • Intel Corp.
  • OmniVision Technologies Inc.
  • Renesas Electronics Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Valeo SA

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201216005973/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 12/17/2020 02:30 AM/DISC: 12/17/2020 02:30 AM

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