What are the Historical Developments and Current Growth Metrics of the Side View Camera System Market?
The side view camera system market has seen considerable growth due to a variety of factors.
• The side view camera system market will grow from $0 billion in 2024 to $0.01 billion in 2025 at a CAGR of 86.2%.
This rapid growth is due to increasing regulatory mandates for vehicle safety, higher consumer demand for advanced driver assistance systems, a rise in electric and autonomous vehicles, higher accident rates, and shifts toward connected vehicles.
What is the Forecasted Market Size and CAGR for the Side View Camera System Market?
The side view camera system market is expected to maintain its strong growth trajectory in upcoming years.
• The side view camera system market is expected to reach $0.08 billion by 2029, with a CAGR of 85.9%.
Growth is driven by increased vehicle safety regulations, demand for luxury vehicles, the rise of electric and autonomous vehicles, consumer preference for enhanced aesthetics, and growing awareness of reducing blind spots and road accidents. Trends include advancements in automotive safety technology, ADAS adoption, innovations in camera technology, AI integration for enhanced functionality, autonomous vehicle tech, and sensor technology innovations.
What Key Factors and Trends Are Driving The Growth Side View Camera System Market?
The surge in the need for vehicles is set to spur the expansion of the side-view camera system market in the future. With the growth of population, urbanization, and economic progress, the number of vehicles on the roads is increasing, leading to enhanced vehicle ownership and increased access to transportation infrastructure. The side-view camera system lends a helping hand to vehicles on the road by offering drivers better visibility of their blind spots, thus enhancing safety during lane switching and parking. For instance, the US Energy Information Administration, a statistical agency of the Department of Energy in the US, reported in January 2024 that in 2023, 16.3% of total new light-duty vehicle sales in the US were from the combined sales of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles (BEVS). As such, the rise in vehicle demand will act as a catalyst for the growth of the side-view camera system market.
What Are The Market Segments In The Side View Camera System Market?
The side view camera system market covered in this report is segmented –
1) By Component: Camera, Electronic Control Unit (ECU), Display, Other Components
2) By Technology: Infrared Camera, Thermal Camera, Digital Camera
3) By Mounting Location: Body Mounted, Door Mounted
4) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Commercial Vehicle
5) By Application: Park Assist System, Driver Monitoring System, Blind Spot Detection, Night Vision System, Other Applications
Subsegments:
1) By Camera: Front Camera, Rear Camera, Side Camera
2) By Electronic Control Unit (ECU): Centralized ECU, Distributed ECU
3) By Display: In-Dash Display, Rearview Mirror Display, Head-Up Display (HUD)
4) By Other Components: Wiring Harness, Sensors (Proximity Sensors), Mounting Kits, Power Supply Units
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What New Trends Are Influencing The Side View Camera System Market?
Prominent businesses engaged in the side view camera system market are enhancing camera technology with the integration of speed assist systems. This is done to improve safety measures and augment the precision of object detection. The speed assist system in cameras tracks and monitors vehicular speeds instantaneously, issuing warnings to drivers when they breach speed restrictions or approach other vehicles too swiftly. For example, an Israel-based autonomous driving firm, Mobileye Global Inc., in July 2023, debuted the first-ever camera-only intelligent speed assist. This inventive solution enables original equipment manufacturers (OEMs) to abide by the new EU General Safety Regulation (GSR). The regulation insists on the integration of sensors in all new cars for automatic speed limit detection. Mobileye's Intelligent Speed Assist (ISA) is leading this compliance drive without leaning on third-party maps or GPS information, by instead recognizing traffic signs and other visual indicators in the immediate environment of the vehicle.
Who Are the Key Players In The Side View Camera System Market?
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
What Are The Regional Insights Into The Side View Camera System Market?
Europe was the largest region in the side view camera system market in 2024. 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.
