Automotive Vision System Market Size, Trends & Growth Opportunity By System Type (Night Vision System (NVS), Adaptive Cruise Control (ACC), Lane Keep Assist System (LKAS), and Blind Spot Detection (BSD)), By Vehicle Type (Passenger Vehicle (Compact Cars,

Global Automotive Vision System Market Size, Trends And Growth Opportunity By Product Type (Night Vision System (NVS), Adaptive Cruise Control (ACC), Lane Keep Assist System (LKAS), And Blind Spot Detection (BSD)), By Vehicle Type (Passenger Vehicle (Compact Cars, Mid-Sized, SUV, And Luxury), LCV, And HCV), By Sales Channel(OEM, And Aftermarket), By Region And Forecast Till 2027.Global Automotive Vision System Market to 2027

Market Overview

The automotive vision system market was valued at USD 3345 million in 2021 and is expected to reach 7380 at a CAGR 10.67% by 2027. The market for automotive vision systems has grown in order to increase drivers' visibility in a variety of situations, such as inclement weather and low light. Animal and pedestrian safety has emerged as a crucial concern. Around 50–52% of accidents, according to the European Commission, take place at night. By improving situational awareness while driving in the dark, this technology directs the driver. Due to the automotive vision system's capabilities, the market for automotive vision systems has been impacted. During the forecast period, market share and size are anticipated to increase.

Market Drivers

The expansion of the global automotive vision system market is anticipated to be aided by the rise in demand for automotive vision systems like ADAS in automobiles. Additionally, the expansion of the global automotive vision system market is anticipated to be fueled by the rise in demand for automotive vision systems in novel and developing applications. Furthermore, during this projection period, the global automotive vision system market is anticipated to be driven by improvements in overall safety and a decrease in collision rates during both day and night. The development and provision of affordable and highly effective vehicle systems by automakers is anticipated to propel the worldwide automotive vision system market.

Market Restraints

The global market for automotive vision systems is anticipated to develop, although there are growing security issues with regard to cloud-based image processing and analytics. Furthermore, a lack of awareness and technical expertise may restrain the expansion of the global market for automotive vision systems.

Market Segmentation

Global Automotive Vision System market is segmented into product type, vehicle type and sales channel. By product type it segmented into night vision system (NVS), adaptive cruise control (ACC), lane keep assist system (lkas), and blind spot detection (BSD). By vehicle type it segmented into passenger vehicle (compact cars, mid-sized, suv, and luxury), LCV, and HCV. By sales channel it segmented into sales channel such as OEM, and aftermarket.

Regional Analysis

The aluminium automotive vision systems market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. The Asia-Pacific region is estimated to lead the market in terms of growth rate during the forecasted years from 2022 to 2027, according to geographical segmentation. The rapid expansion in the region is attributed to the increase in luxury and electric vehicle sales in nations like China, India, Japan, and South Korea.

Market Key Players

Various key players are discussed in this report such as Magna Electronics, Bendix Commercial Vehicles Systems, Omron Corporation, SMR Deutschland GmbH, Stemmer Imaging Ltd., Autoliv Inc., ZF Friedrichshafen AG, Delphi Technologies, NXP Semiconductors, Robert Bosch GmbH, and Continental AG

Market Taxonomy

By Product Type

• Night vision system (NVS)
• Adaptive cruise control (ACC)
• Lane keep assist system (LKAS)
• Blind spot detection (BSD)