Market Research Report
Multi Camera System Market for Automotive by Function (Parking, and ADAS), Display Type (2D, and 3D), Level of Autonomous Driving (Level1, Level 2 & 3, and Level 4), Vehicle Type (Passenger, and Commercial Vehicle), and Region - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||578850|
|Published||Content info||172 Pages
|Multi Camera System Market for Automotive by Function (Parking, and ADAS), Display Type (2D, and 3D), Level of Autonomous Driving (Level1, Level 2 & 3, and Level 4), Vehicle Type (Passenger, and Commercial Vehicle), and Region - Global Forecast to 2025|
|Published: November 10, 2017||Content info: 172 Pages||
"Growth in premium vehicle segment and rise in trend of integrating additional safety features in the vehicle to fuel the demand for multi camera system market"
The multi camera system market for automotive is estimated to be USD 700.7 million in 2017 and is projected to grow at a CAGR of 19.13% during the forecast period (2018-2025), to reach a market size of USD 2,843.4 million by 2025. The majority of consumers are now demanding advanced safety functions and technologies, which largely influence their purchase decisions. The rising trend of premium vehicles equipped with advanced driver assistance systems (ADAS) is also an important factor to be considered for the growth of multi camera system market. However, the high cost of the multi camera system is expected to inhibit the growth of the multi camera system market.
The ADAS function is estimated to be the fastest growing segment, by volume, of the multi camera system market for automotive from 2017 to 2025. The growth of this segment can be attributed to the rise in trend of integrating additional safety features in vehicles.
The multi camera system helps in the functioning of ADAS features such as object detection, blind spot detection, and traffic sign recognition among others. Thus, the growth of ADAS functions is expected to fuel the multi camera system market. Furthermore, the emerging markets such as China and India from the Asia Pacific region are expected to witness steady growth of multi camera system market due to gradual development in infrastructure.
The Level 1 vehicle segment is estimated to hold the largest market share of the multi camera system market during the forecast period. The market presence of Level 2&3 and Level 4 vehicles is negligible during the forecast period. Hence, the Level 1 vehicle segment is the largest contributor in the multi camera system market. The market for Level 2&3 and Level 4 vehicles is expected to increase at a gradual rate.
North America is estimated to be the largest regional market for multi camera system market for automotive in 2017. With one of the largest markets for premium segment vehicles, North America is expected to dominate the multi camera system market for automotive during the forecast period. In addition, heavy investments in research and development in the automotive sector by OEMs in the North American region create opportunities for technological innovations. Also, the demand for additional safety features in mid variant vehicles is increasing exponentially in the region. These factors are expected to fuel the growth of the multi camera system market in the North American region.
The study contains insights provided by various industry experts, ranging from equipment suppliers to Tier-1 companies and OEMs. The break-up of the primaries is as follows:
The report provides detailed profiles of the following companies:
The multi camera system market for automotive has been segmented by function (parking and ADAS), display type (2D and 3D), level of autonomous driving (level 1, level 2 & 3, and level 4), vehicle type (passenger and commercial vehicle) and region (Asia Pacific, Europe, North America, and the Rest of the World). The market has been projected, in terms of volume ('000 units) and value (USD million).
The report provides insights into the following points:
*Details on Business overview, Services offered, Strength of service portfolio, Business strategy excellence, Recent developments might not be captured in case of unlisted companies.