The vehicle multi-angle vision industry is proposed to expand exponentially during the forecast period due to the adoption of safety solutions. Vehicle multi-angle vision is a multi-angle driving assistance system that helps drivers to perceive their surroundings. It provides a bird’s eye view through a full 360 degrees around the car. Increasing number of safety solutions to prevent accidents is expected to drive the market growth. Stringent government rules & regulations globally have made it mandatory to install such vision systems. Demand for safety technology, such as Advanced Driver Assist System (ADAS), has increased that propelled the growth of the market. The latest trend, such as demand for sensing cameras in ADAS systems, is expected to create opportunities for the market.
According to Business Research Insights, the global vehicle multi-angle vision market size was valued at USD 2,009 million in 2020 and is expected to reach a valuation of USD 12,770 million by 2026 with a CAGR of 36.1% during 2022-2026. The market has leading players such as Robert Bosch GmbH, Continental AG, Delphi Automotive LLP, Valeo, Jujitsu, and DENSO Corporation.
Halt on Manufacturing Activities to Slowdown Market Growth During COVID-19
The COVID-19 pandemic enforced many restrictions on various global markets. The pandemic obstructed the production activities, demand, and supply chains. Manufacturers of vehicle multi-angle vision halted their operations due to halt of activities in the automotive industry. Suspension of production activities halted vehicle production and supply chain problems in various countries, which affected the market.
Business Research Insights Reports Top 5 Companies of Vehicle Multi-Angle Vision
1. Robert Bosch GmbH (Germany)
Robert Bosch GmbH is a Germany-based multinational engineering and technology company headquartered in Gerlingen. The company has its operations in four sectors, mobility, consumer goods, industrial technology, and energy & building technology. Automotive technology includes diesel and gasoline fuel injection systems, auto electricals, energy and body systems, car multimedia systems, and starters & generators. The company is known for producing automotive and industrial components, making it one of the largest suppliers of automotive components. With 440 subsidiaries, the company operates in over 60 countries.
2. Continental AG (Germany)
Founded in 1871, Continental AG is a Germany-based multinational manufacturer of automotive parts. It has its head office in Hanover, Lower Saxony with its operations in 58 countries. The company specializes in electronics, automotive safety, powertrain, tachographs, and tires, and other parts for transportation and automotive industries. It is structured into 6 divisions, interior, tires, chassis and safety, powertrain, Advanced Driver Assistance Systems (ADAS), and ContiTech.
3. Valeo (France)
Valeo is a France-based global automotive supplier that offers a wide range of automotive products to automakers and aftermarket. It focuses on development and innovation of automotive in developing countries and emerging regions. It offers driving assistance systems, thermal systems, powertrain systems, and visibility systems. It also provides aftermarket service and supplies original equipment spares and replacement parts to the independent aftermarket.
4. DENSO Corporation (Japan)
DENSO Corporation is a global manufacturer of automotive components, headquartered in Kariya, Aichi, Prefecture, Japan. It was founded in 1949 and has been operating for about 72 years. After becoming independent from Toyota, the company was started as Nippon Denso Co. Ltd. The company has 200 consolidated subsidiaries globally. It develops and manufactures various auto parts such as hybrid vehicle components and gasoline & diesel engine components. It is one of the largest auto parts suppliers in the world.
5. Fujitsu (Japan)
Fujitsu Limited is a Japanese multinational information and communications technology equipment and services organization. It was established in 1935 and is headquartered in Tokyo. Hardware offerings of the company are personal and enterprise computing products such as mainframe compatible server products, SPARC, and x86. Subsidiaries of the corporation have diverse products and services in the areas of telecommunications, data storage, and microelectronics. It provides its products and services in around 180 countries
Integration of Vision Guided Robotic Systems to Propel Industry Development
With substantial changes in the market, owing to vision-guided robotics systems, the automotive industry has increased the usage of industrial robots in automation. There is a growing need and demand for machine vision systems to be integrated with vision-guided robot controllers. A machine vision system can make sure that there are no gaps when a robot is applying an adhesive beading. Without a protective fence, a vision-guided robot can operate alongside humans. Such factors are expected to drive the market growth of vehicle multi-angle vision.