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A surround-view camera is one of the vital components of a vehicle installed in the rear, front, and both sides of a vehicle. This device consists of sensors that are combined with electronic components in a vehicle. These surround-view cameras consist of 4 fish eye cameras with each having an angle of 180-degree horizontal field 2D and 3D view. These cameras are fitted at the front and rear side of the vehicle as well as on both sides of the vehicle. The ECU acts as a mediator between the camera and the real-time image shown on the LCD screen in the vehicle. These cameras are used by light commercial as well as heavy commercial vehicles. The surround-view cameras record driver’s movements to improve the driving experience and helps in the prevention of road accidents.
Moreover, these cameras play a vital role in assisting the driver during parking, removes blind spots, and gives sharp views from all sides. Increasing government regulations for passenger and driver safety has made it essential for manufacturers to install the surround-view cameras in all commercial vehicles. Furthermore, various governments have taken initiatives and imposed stringent norms to curb road accidents and avoid collisions. The governments are making it mandatory for the automotive manufacturers to provide safety features in new vehicles to attract new buyers. All these factors are gaining demand for surround-view cameras over the forecast period.
Key Market Driver -
Rising adoption of safety features in automotive industry, advancement in the ADAS technologies are likely to drive the market.
Key Market Restraint -
Less visibility in bad weather conditions will hamper the growth of the market.
Some of the prominent manufacturers which are included in the commercial vehicle surround view market include Delphi Automotive, Ambarella, Continental, Fujitsu, Valeo, Stonkam, Clarion, Bosch, Continental AG, and Denso among the other players.
Globally, the commercial vehicle surrounds view market has been segmented by view type, by product type, by application type, by market type, and by region. By view type, the market is further segmented into two-dimension, and the three-dimension surround view system. The three-dimension surround view system is expected to emerge rapidly in the surround-view camera market as compared to the two-dimension surround view system. The three-dimension surround view system shows the vehicle’s surrounding in 3D representation, which is a spherical form. This system gives a 360-degree view. By product type, the four-camera surround view system is widely used, followed by six camera surround view. By application type, further, the surround-view camera market is segmented into the park assist system, lane departure warning system, blind-spot detection, and others. Blindspot detection system provides drivers with vital information with the help of sensors fitted in the vehicle. Furthermore, the device assists the driver to detect vehicles or any objects that are not in the sight of the driver. Blindspot detection system provides an alert by alarming or by flashing light. By market type, the OEM segment is estimated to dominate the commercial vehicle surround-view camera system market in the forecast period. The OEM companies are investing heavily in the research and development of a surround-view camera system to give safety features, assist drivers, and avoid collisions. The aftermarket is also emerging at a steady pace.
Geographically, the global commercial vehicle surrounds view market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to dominate the global market in the forecast period owing to the rise in commercial vehicle production and sales in the region. Also, the major OEM companies are situated in this region, thus fuelling the growth of the surround-view camera system market. These major players are investing in research to develop high-end cameras for vehicles, adopting new technologies and having an edge compared to their competitors. The Asia Pacific is the next fast-growing region in the surround-view camera system market owing to various government policies and initiatives to implement advanced safety features in commercial vehicles as well.
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