The global automotive surround view systems market to grow at a CAGR of 12.60% during the period 2017-2021.
Global Automotive Surround View Systems Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Development of high resolution cameras making use of back-lit CMOS
The global automotive market is rapidly evolving with developments taking place across various automotive verticals. Thanks to technological innovations and advancements, the ADAS technology has slowly developed over time. In the last few years, ADAS like automotive surround view system has gone from rendering low-resolution, grainy images from a single perspective to practically photo quality like 3D images from any angle.
According to the report, one of the major drivers for this market is Advancements in technology leading to affordable camera-assisted safety technologies. The global automotive market is witnessing the development of numerous technologies. The new automotive applications, such as ADAS and other systems, make use of advance electronic systems and components. Changing consumer demands and need for safety and comfortable driving are driving the market for such systems. With safety being mandated by governments and ratified by automotive OEMs in recent times, there has been a major push in the safety and infotainment/interior electronics space.
Further, the report states that one of the major factors hindering the growth of this market is Low adoption rate of ADAS due to high prices and difficulty of use. Though the global automotive surround view systems market is expected to grow at a decent pace over the forecast period, market penetration of these systems is a major challenge. Most ADAS features have a slow adoption rate. The installation rate of automotive surround view systems in new vehicles, which first became available in 2007, is projected to grow at a slow pace. As with any new technology, much uncertainty persists about the market, including how consumers will respond to more advanced applications like computer controls or assists with steering or other critical driving and parking functions.