Multi Camera System Market for Automotive Worth 2,843.4 Million USD by 2025
PUNE, India, November 10, 2017 /PRNewswire/ --
The report "Multi Camera System Market for Automotive by Function (Parking, and ADAS), Display Type (2D, and 3D), Level of Autonomous Driving (Level1, Level 2 & 3, and Level 4), Vehicle Type (Passenger, and Commercial Vehicle), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is estimated to be USD 700.7 Million in 2017 and is projected to reach a market size of USD 2,843.4 Million by 2025, growing at a CAGR of 19.13% during the forecast period.
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Browse 83 Market Data Tables and 48 Figures spread through 170 Pages and in-depth TOC on "Multi Camera System Market for Automotive"
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The market is driven by factors such as increased emphasis of insurance companies on safety features, the rise in trend of integrating additional safety features in vehicles, and growing demand for premium segment vehicles.
The passenger vehicle segment is estimated to be the largest market in the Multi Camera System Market for Automotive during the forecast period
The passenger vehicle segment is estimated to have the largest market share of the multi camera system market due to the rising demand for ADAS features and growth of semi-autonomous and autonomous vehicles. The rising safety concerns have fueled the the growth of ADAS features, which is boosting the demand for semi-autonomous vehicles. Camera-based ADAS features help to meet the elevated safety standards, thereby governing the growth of passenger vehicles.
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3D display to be the fastest growing segment in Multi Camera System Market for Automotive, by display type
The multi camera system is integrated with the infotainment panel or instrument cluster, which projects 2D as well as 3D view. The growing technological innovation has boosted the market for 3D display, which is projected to grow at the fastest rate during the forecast period. The growth of 3D display is also linked to the increase in demand for premium segment vehicles. The enhancement in comfort and user driving experience by the multi camera system is responsible for the growth of 3D display segment in the Multi Camera System Market for Automotive.
Asia Pacific to be the fastest growing regional market for Multi Camera System Market for Automotive
The Asia Pacific market is anticipated to be the fastest growing market for multi camera system during the forecast period. The market growth in the region can be attributed to the rapidly growing automotive sector in countries such as China, Japan, South Korea, and India. Moreover, the improving lifestyles of consumers and speedy urbanization have boosted the demand for passenger cars as well as commercial vehicles. These factors are expected to trigger the growth of the multi camera system market in the region.
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The key players in the multi camera system market include Bosch (Germany), Continental (Japan), Delphi (UK), Magna (Canada), Samvardhana Motherson Reflectec (Germany), Valeo (France), Clarion (Japan), Texas Instruments (US), NXP Semiconductors (Netherlands), OmniVision Technologies (US), Xilinx (US), and Ambarella (US).
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