Global Side View Camera System Market - 2023-2030
The global side view camera system market reached US$ 372.58 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 1,128.51 million by 2030. The market is expected to exhibit a CAGR of 17.7% during the forecast period (2023-2030).
A side-view camera system is used in passenger and commercial cars for safety and situational awareness while driving. Side view cameras are becoming more advanced as new technical developments are adopted and integrated. Some newer versions of the system include GPS navigation integration, which analyzes traffic conditions in real-time and alerts drivers to potentially dangerous scenarios emerging in their blind areas.
Although the global side view camera system market declined in 2020 due to the influence of COVID-19, the long-term forecast for the global side view camera system market is bright. The need for side view camera systems is likely to rise in the upcoming years, boosting the global side view camera market shares.
Market Dynamics
Growing stringency in governmental regulations associated with road safety
As per the NHTSA, U.S., an estimated 20,160 persons perished in traffic accidents in the first half of 2021. The National Highway Traffic Safety Administration (NHTSA) released a press statement proclaiming that cameras should be a standard requirement in all new vehicles sold that weighed less than 10,000 pounds.
Although the respective fact is not a mandate, the debate about mandating automotive camera systems has been ongoing for years, fuelled by safety concerns and personal loss. As a result, the growing stringency in traffic regulations due to many mishappening across the globe is a major driver for the side view camera system market.
Exorbitant costs associated with side view camera systems
Despite the fact that the use of side view camera systems has grown in recent years, there is rising worry about the system's exorbitant costs. Recent advances in information technology and electrical hardware engineering have improved the responsiveness and precision of side view camera systems.
Furthermore, many side view camera systems use proprietary software, which necessitates licensing fees and paid software updates for the duration of the system's operational life. Companies also include multi-year maintenance, warranty, and service contracts, which add to customer costs. Since this high-cost requirement of side view camera systems prevents its large scale adoption among consumers, the aforementioned fact could be recognized a major market restraint.
COVID-19 Impact Analysis
The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global side view camera system market is segmented based on type, product form, function, application and region.
Low cost and easy handling enables single side view camera system segment to occupy the highest market share
The single side view video provides two-dimensional images of the object and includes a connected backup camera that can be added to any system. It can provide good colored images in the absence of infrared lights and light sensors. The single-camera system segment dominates the market for side view camera system due to their low cost and easy handling.
The side view camera systems are simple to incorporate because they are readily integrated with ECUS. The capacity to perform in severe situations by providing high and low-temperature resistance is an important driver for the segment's growth.
Geographical Analysis
High concentration of automotive market giants, the requirement for increased and favorable laws
The Asia-Pacific region has a high concentration of automotive market giants, all of whom are strongly motivated to adopt new technologies in order to remain. The countries such as China, India, Japan, and South Korea are credited for the expansion. Moreover, the tremendous requirement for increased innovation and production volume drives the product's regional expansion.
The region is densely populated with leading automotive market players such as Nissan, Hyundai Motor Group and Toyota Motor Corporation, all of whom are strongly motivated to adopt new technology in order to remain competitive and generate demand for side view camera systems. Furthermore, favorable laws and OEM improvements are projected to drive the growth of the side view camera system market in Asia-Pacific.
Competitive Landscape
The major global players include Continental AG, Valeo, BMW, Hyundai Mobis, Lexus, Samvardhana Motherson, Robert Bosch GmBH, Magna International, Stoneridge, and Denso Corporation.
Why Purchase the Report?
• To visualize the global side view camera system market segmentation based on type, component, vehicle, sales channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of side view camera system market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global side view camera system market report would provide approximately 69 tables, 63 figures and 207 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Type
- 3.2. Snippet by Component
- 3.3. Snippet by Vehicle
- 3.4. Snippet by Sales Channel
- 3.5. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Rising accident cases due to blind spots
- 4.1.2. Restraints
- 4.1.2.1. High cost of side view camera systems
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Single Camera System*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Multi-Camera System
- 8. By Component
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 8.1.2. Market Attractiveness Index, By Component
- 8.2. Camera*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. ECU
- 8.4. Display
- 9. By Vehicle
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 9.1.2. Market Attractiveness Index, By Vehicle
- 9.2. Passenger Car*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Commercial Vehicle
- 9.4. Heavy-Duty Vehicle
- 10. By Sales Channel
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 10.1.2. Market Attractiveness Index, By Sales Channel
- 10.2. OEMs*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Aftermarket
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.7.1. The U.S.
- 11.2.7.2. Canada
- 11.2.7.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.7.1. Germany
- 11.3.7.2. The U.K.
- 11.3.7.3. France
- 11.3.7.4. Italy
- 11.3.7.5. Russia
- 11.3.7.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.7.1. Brazil
- 11.4.7.2. Argentina
- 11.4.7.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.7.1. China
- 11.5.7.2. India
- 11.5.7.3. Japan
- 11.5.7.4. Australia
- 11.5.7.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Component
- 11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Vehicle
- 11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Sales Channel
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Market Positioning/Share Analysis
- 12.3. Mergers and Acquisitions Analysis
- 13. Company Profiles
- 13.1. Delphi Technologies*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
- 13.2. STONERIDGE, INC.
- 13.3. Denso Corporation
- 13.4. Robert Bosch GmBH
- 13.5. Magna International
- 13.6. GENTEX CORPORATION
- 13.7. Continental AG
- 13.8. Valeo
- 13.9. VisionTrack
- 13.10. Rear View Safety, Inc.
- LIST NOT EXHAUSTIVE
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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