Side View Camera System Global Market Report 2024

A side view camera system, also known as a blind-spot camera or side assist camera, is an advanced driver assistance system (ADAS) designed to enhance vehicle safety and driver awareness. These systems offer drivers a visual representation of areas adjacent to the vehicle that are typically challenging to see using traditional side mirrors alone. The primary goal of a side view camera system is to improve driving safety by reducing blind spots and providing a clearer, more comprehensive view of the vehicle's surroundings.

The main components of the side view camera system include cameras, electronic control units (ECUs), displays, and other related elements. A camera ECU (Electronic Control Unit) is a device responsible for processing signals from side view cameras, converting them into usable data for vehicle safety systems. Various technologies are employed in these systems, such as infrared cameras, thermal cameras, and digital cameras, which can be mounted on the body or doors of different vehicle types, including passenger vehicles, light commercial vehicles, and heavy commercial vehicles. The applications of side view camera systems span across functionalities such as park assist systems, driver monitoring systems, blind spot detection, night vision systems, and others.

The side view camera system market research report is one of a series of new reports that provides side view camera system market statistics, including the side view camera system industry global market size, regional shares, competitors with side view camera system market share, detailed side view camera system market segments, market trends, and opportunities, and any further data you may need to thrive in the side view camera system industry. These side view camera system market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The side view camera system market size has grown exponentially in recent years. It will grow from $1.92 million in 2023 to $3.57 million in 2024 at a compound annual growth rate (CAGR) of 85.9%. Historical growth in the side view camera system market can be attributed to several factors. These include increasing regulatory mandates for vehicle safety, heightened consumer demand for advanced driver assistance systems, a growing market for electric and autonomous vehicles, an increase in road accidents prompting the need for safety solutions, a shift towards smart and connected vehicles in the autonomous vehicle segment, and rising consumer demand for improved vehicle visibility and safety features.

The side view camera system market size is expected to see exponential growth in the next few years. It will grow to $42.72 million in 2028 at a compound annual growth rate (CAGR) of 86%. Anticipated growth in the side view camera system market for the forecast period can be attributed to several key factors. These include a growing emphasis on vehicle safety regulations, increased demand for luxury and high-end vehicles equipped with advanced safety features, expansion of the electric and autonomous vehicle sectors driving adoption of advanced driver-assistance systems (ADAS), growing consumer preference for improved vehicle aesthetics and aerodynamics, and heightened awareness regarding the importance of reducing blind spots and preventing road accidents. Major trends expected in the forecast period include advancements in automotive safety technology, widespread adoption of advanced driver-assistance systems (ADAS) incorporating side view camera systems, innovations in camera technology to enhance clarity and functionality, integration of Artificial Intelligence (AI) for enhanced functionalities such as object recognition and predictive analytics, advancements in autonomous vehicle technology requiring robust sensor systems including side view cameras, and ongoing technological innovations in sensor technology to improve accuracy and reliability.

The side-view camera system market is poised for growth due to the increasing demand for vehicles. Factors driving this demand include population growth, urbanization, and economic development, leading to higher vehicle ownership and improved transportation infrastructure accessibility. Side-view camera systems play a crucial role in enhancing road safety by providing drivers with better visibility of blind spots, particularly during lane changes and parking maneuvers. For example, as of January 31, 2022, Australia had 20.7 million registered motor vehicles, marking a 2% increase from January 2021. The number of battery electric vehicles (BEVs) doubled to about 40,000 in 2022, with passenger cars comprising 34,200, reflecting a 118% increase from 2021. Hybrid-electric vehicles (HEVs) also saw significant growth, totaling approximately 277,000 in 2022, a 35% increase from the previous year. This growth in vehicle demand is expected to drive the side-view camera systems market forward.

Leading companies in the side-view camera system market are advancing camera technology by integrating speed assist systems to enhance safety features and improve object detection accuracy. Speed assist systems in cameras monitor vehicle speeds in real-time and alert drivers if they exceed speed limits or approach vehicles too quickly. For instance, in July 2023, Mobileye Global Inc., an Israel-based autonomous driving company, introduced the first camera-only intelligent speed assist system. This innovation allows original equipment manufacturers (OEMs) to comply with the EU General Safety Regulation (GSR), which mandates sensor inclusion in all new vehicles to automatically detect speed limits. Mobileye's Intelligent Speed Assist (ISA) system achieves this requirement without relying on third-party maps or GPS data, instead identifying traffic signs and other visual cues nearby.

In February 2022, ASM Pacific Technology Ltd., a Singapore-based semiconductor manufacturing company, acquired Automation Engineering Inc. The acquisition strengthens ASMPT's position in automotive camera assembly and testing solutions, enabling the provision of comprehensive, automated, and scalable solutions globally. Automation Engineering Inc. is a US-based machinery manufacturing company specializing in automotive camera production.

Major companies operating in the side view camera system market are Bayerische Motoren Werke AG, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Hyundai Mobis, Magna International Inc., Valeo SA, Aptiv PLC, Kyocera Corporation, Autoliv Inc., HELLA GmbH & Co. KGaA, Samsung Electro-Mechanics, Lexus, Visteon Corporation, Pioneer Corporation, Gentex Corporation, Mobileye, OmniVision Technologies, Stoneridge, Kappa Optronics GmbH, SL Corporation.

Europe was the largest region in the side view camera system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the side view camera system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the side view camera system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The side view camera system market consists of revenues earned by entities by providing services such as real-time video feeds, recording and documentation, and driver training and coaching. The market value includes the value of related goods sold by the service provider or included within the service offering. The side view camera system market also includes sales of camera units, control units, display monitors, sensor systems, brackets, and mounts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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