Automotive Vision System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
Automotive Vision System Market: Introduction
A system that increases the vehicle driver’s perception during night or bad weather conditions is termed as Automotive night vision system (ANVS). The system is otherwise beyond the reach of the vehicle’s headlights, thereby prevents accidents at night. It can also be defined as a system which assists the driver by increasing visibility during bad whether while providing safety. Vehicle which have automotive vision system integrated are foreseen to perceive its surrounding due to integrated automation and is expected to decide actions needed to carry out security and safety actions of road users. Automotive vision system remains a crucial technology of ADAS, which integrates the vehicle hardware with image sensors of high resolution, which is capable of object recognition, detection as well as tracking. Night vision system (NVS), adaptive cruise control (ACC), lane keep assist system (LKAS), blind spot detection (BSD) as well as lane departure warning (LDW) are some key inclusion of automotive vision system. Few high end models incorporated with such system are, Mercedes-Benz S-class, Audi Q7, Audi A8, Rolls Royce Wraith, Cadillac CT6 etc. In the coming years, the automotive vision system market is anticipated to witness moderate growth.
Automotive Vision System Market: Dynamics
In the recent years the demand for safety systems such as ADAS in vehicles has grown tremendously which is anticipated to bolster the automotive vision system market growth in the coming years. Automotive production incorporated with advance safety systems with improved vision is anticipated to play crucial role in boosting the automotive vision system market growth across the globe. Substantial reduction in the vehicle visibility issues, at the same time improvement in the overall safety ensures reduction in the number of collision in night as well as day time. These factors are estimated to collectively drive the automotive vision system market during the forecast period.
Automakers are emphasizing on enhancing visibility while developing and providing economical and highly efficient vehicle safety systems. The focus of manufacturers on these factors is projected to create lucrative opportunities for further growth of automotive vision system market during the forecast years.
Among the various benefits of automotive vision system, a widened range of image sensors create challenges and scope for further development. These image sensors which are electrical devices may malfunction and hence result in inaccurate visions. This is anticipated to impede the market growth during the forecast period.
The COVID-19 pandemic is currently impacting the global economy at various levels and aviation industry has not been spared. This has reflected in a significant slowdown in spending in the first half of year 2020 as it reverberates through every sector of the economy. The outlook remains uncertain for the remaining half of the year as the scope of the virus and its impact on production, demand and supply chains which is anticipated to impede the overall automotive vision system market growth.
Automotive Vision System Market: Segmentation
The global Automotive Vision System market can be segmented on the basis of system type, vehicle type and sales channel.
On the basis of system type, the global Automotive Vision System market is segmented as:
On the basis of Vehicle Type, the global Automotive Vision System market is segmented as:
On the basis of Sales Channel, the global Automotive Vision System market is segmented as:
Automotive Vision System Market: Regional Outlook
The automotive production scenario in Asia Pacific provides a positive outlook for automotive vision system market in the coming years. In countries such as India, China, Indonesia and Thailand growing vehicles production to cater the demand is driving the automotive vision system market. With stricter government norms as well as higher demand for safety from consumer end, manufacturers have been forced to enhance and improve vehicle safety system. Moreover, steadily increasing investments in automobile industry in North America and Europe, amidst the slowdown in automotive production is anticipated to positively impact the automotive vision system market growth.
Automotive Vision System Market: Key Participants
Some of the market participants in the global Automotive Vision System market, identified across the value chain include:
The research report on the Automotive Vision System market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Automotive Vision System market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, aircraft type, and sales channel.
The report covers exhaustive analysis on:
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
Current and Future Threats
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