The automotive vision system market was valued at USD 12.1 billion in 2019 and is expected to reach at a CAGR 14.6% by 2027.
Automotive vision system market has emerged for improving visibility of drivers in various conditions like darkness and poor weather. Safety of animals and pedestrians has become an essential concern. According to European Commission around 50-52% accidents happen at night. This system guides the drivers by increase in situational awareness in darkness. Automotive vision system market influenced due to capabilities of automotive vision system, It is expected to improve market share and market size during this forecast period.
Increase in demand for automotive vision system like ADAS in vehicles is expected to boost the global automotive vision system market growth. Furthermore, increase in demand for automotive vision system in non-traditional and emerging applications is expected to propel the global automotive vision system market growth. Moreover, reduction in the vehicle visibility issues and improvement in overall safety ensures reduction in the number of collision in night as well as day time is expected to drive the global automotive vision system market, during this forecast period. Automakers are accentuated on enhancing visibility during developing and providing economical and highly efficient vehicle systems is expected to drive the global automotive vision system market.
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However, increase in security concerns related to cloud-based image processing and analytics is the restraining factor which expected to hamper the growth of global automotive vision system market. Also, lack of awareness and technical knowledge will affect the global automotive vision system market growth.
Global Automotive Vision System Market is segmented into system type such as Night Vision System (NVS), Adaptive Cruise Control (ACC), Lane Keep Assist System (LKAS), and Blind Spot Detection (BSD), by vehicle type such as Passenger Vehicle (Compact Cars, Mid-Sized, SUV, and Luxury), LCV, and HCV. Further, Global Automotive Vision System Market is segmented into sales channel such as OEM, and Aftermarket.
Also, Global Automotive Vision System industry is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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
By Product Type
- Night vision system (NVS)
- Adaptive cruise control (ACC)
- Lane keep assist system (LKAS)
- Blind spot detection (BSD)
By Vehicle Type
- Passenger Vehicle
- Compact Cars
By Sales Channel
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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