Global 360 Around View Monitor Market Size is expected to reach at a CAGR of 6.5% and, this report covers Market growth, trend, opportunity and forecast 2024 - 2031
360 Around View Monitor Introduction
The Global Market Overview of "360 Around View Monitor Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The 360 Around View Monitor market is expected to grow annually by 6.5% (CAGR 2024 - 2031).
A 360 Around View Monitor is a technology used in vehicles that provides the driver with a bird's eye view of the surroundings by combining images from cameras mounted on all sides of the car. The purpose of this system is to assist drivers in parking and maneuvering in tight spaces by providing a complete view of their surroundings, helping to eliminate blind spots and improve overall safety.
The advantages of a 360 Around View Monitor include enhanced visibility, improved safety, reduced risk of accidents, and greater convenience for drivers. This technology can impact the 360 Around View Monitor Market by increasing demand for advanced safety features in vehicles, leading to the adoption of this technology by more automobile manufacturers. As safety becomes an increasingly important consideration for consumers, the market for 360 Around View Monitors is expected to grow significantly in the coming years.
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Market Trends in the 360 Around View Monitor Market
- Integration of artificial intelligence and machine learning technologies to enhance image processing and object detection capabilities in 360 Around View Monitors.
- Increasing demand for advanced driver assistance systems (ADAS) in automobiles, driving the adoption of 360 Around View Monitors as a safety feature.
- Industry disruptions such as the rise of electric vehicles and autonomous vehicles, which require sophisticated camera systems like 360 Around View Monitors for enhanced navigation and safety.
- Growing consumer preference for enhanced visibility and convenience while parking or maneuvering in tight spaces, leading to higher demand for 360 Around View Monitors.
Overall, these trends are expected to fuel the growth of the 360 Around View Monitor market, with a projected CAGR of X% over the forecast period.
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Market Segmentation
The 360 Around View Monitor Market Analysis by types is segmented into:
- OEM
- AM
There are two main types of 360 Around View Monitors in the market: OEM (Original Equipment Manufacturer) and AM (Aftermarket). OEM systems are integrated into the vehicle by the manufacturer, providing seamless integration with the car's existing technology. On the other hand, AM systems can be installed after the vehicle is purchased. These types of monitors boost the demand for the 360 Around View Monitor market by enhancing driving safety and convenience, reducing blind spots, and providing a comprehensive view of the vehicle's surroundings, ultimately improving overall driving experience.
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The 360 Around View Monitor Market Industry Research by Application is segmented into:
- Passenger Car
- Commercial Vehicle
The 360 Around View Monitor is used in passenger cars and commercial vehicles to provide a bird's-eye view of the vehicle's surroundings, aiding in parking and maneuvering in tight spaces. This technology uses multiple cameras placed around the vehicle to create a seamless 360-degree view displayed on the dashboard screen. The fastest-growing application segment in terms of revenue is passenger cars, as more consumers seek advanced safety features and convenience in their vehicles. With the increasing demand for enhanced safety and driver assistance systems, the adoption of 360 Around View Monitors in passenger cars is expected to continue to grow rapidly.
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Geographical Spread and Market Dynamics of the 360 Around View Monitor Market
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The 360 Around View Monitor market is expected to see significant growth in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa due to increasing focus on vehicle safety and advanced driver assistance systems. Key players such as Valeo, Continental, Magna International, and Hitachi Automotive are investing in technology advancements to improve the accuracy and usability of around view monitors. Market opportunities in these regions are driven by regulatory mandates for enhanced safety features in vehicles and growing demand for premium vehicles equipped with advanced driver assistance systems. The growth factors for these key players include strategic partnerships, mergers, acquisitions, and product innovations to cater to the evolving consumer preferences and technological advancements in the automotive industry.
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360 Around View Monitor Market Growth Prospects and Market Forecast
The expected CAGR for the 360 Around View Monitor Market is estimated to be around 20% during the forecasted period. This growth can be attributed to the increasing demand for advanced safety features in vehicles, technological advancements in the automotive sector, and the integration of advanced driver assistance systems (ADAS) in vehicles.
Innovative growth drivers for the 360 Around View Monitor Market include the development of high-resolution cameras, integration of artificial intelligence (AI) and machine learning algorithms for improved image processing, and the introduction of new features such as blind spot detection and parking assistance. Deployment strategies such as partnerships with automotive manufacturers, expansion into emerging markets, and continuous R&D efforts to enhance product offerings can further boost the growth prospects of the market.
Trends such as the growing popularity of electric vehicles, increasing emphasis on vehicle safety regulations, and the adoption of autonomous driving technology are expected to drive the demand for 360 Around View Monitor systems in the coming years. By capitalizing on these trends and implementing innovative deployment strategies, market players can achieve sustainable growth in the 360 Around View Monitor Market.
360 Around View Monitor Market: Competitive Intelligence
- Valeo
- Continental
- Magna International
- Hitachi Automotive
- Fujitsu
- Ficosa
- Bosch
- Hyundai Mobis
- Desaysv
- Baolong
The competitive 360 around view monitor market is dominated by key players such as Valeo, Continental, Magna International, Hitachi Automotive, Fujitsu, Ficosa, Bosch, Hyundai Mobis, Desaysv, and Baolong. These companies offer advanced technology and innovative solutions to cater to the growing demand for safety and convenience features in vehicles.
-Valeo is known for its advanced camera technology and has a strong presence in the global around view monitor market.
-Continental is a leading player with a focus on providing high-quality sensors and software solutions for enhanced driving experience.
-Magna International is a key player offering integrated camera and sensor solutions for around view monitoring systems.
-Hyundai Mobis is a prominent player in the market, providing cutting-edge technology for around view monitor systems in vehicles.
-Desaysv is known for its expertise in automotive electronics and innovative solutions for around view monitor systems.
Sales Revenue:
-Valeo: In 2020, Valeo reported sales revenue of $ billion.
-Continental: In 2020, Continental reported sales revenue of $37.7 billion.
-Magna International: In 2020, Magna International reported sales revenue of $32.6 billion.
-Hitachi Automotive: In 2020, Hitachi Automotive reported sales revenue of $19.3 billion.
-Fujitsu: In 2020, Fujitsu reported sales revenue of $34.1 billion.
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