Automotive Around View Monitoring (AVM) Market Size, Share, Growth, and Industry Analysis, By Type (Front View Monitoring, Rear View Monitoring, Curbside View Monitoring), By Application (Passenger Car, Commercial Car) and Regional Insights and Forecast to 2031

Updated On: 06 May 2024

AUTOMOTIVE AROUND VIEW MONITORING (AVM) MARKET REPORT OVERVIEW

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The global automotive around view monitoring (AVM) market size was USD 3734.7 million in 2022 and will touch 4812.1 million by 2029, exhibiting a CAGR of 3.6% during the forecast period.

The car's AVM (surround view monitor) uses many cameras as a sensor, which are installed in different places of the vehicle, to get a top view of the vehicle and the environment, which is not immediately visible to the vehicle due to the driver and limited field of view. The risk of parking errors could be reduced by developing a system capable of monitoring the environment and identifying parking spaces, lanes and obstacles.

The Avm Automotive Surround View Monitoring market has recently experienced a phase of rapid and significant growth, and this significant growth is projected to continue during the period 2023-2031. The positive pace of market dynamics along with expected sustained growth suggests the probability of strong growth during the forecast period. Basically, the market is positioned for an important and remarkable development. The Automotive Surround View Monitoring Avm market has grown rapidly and significantly in recent years, and forecasts of continued significant growth from 2023 to 2031 indicate a continued upward trend in market dynamics, indicating a strong growth rate in the near future.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Due to the worldwide lockdown because of theCovid-19 pandemic, the manufacturing of various items in the marketplace has been halted. This has hampered the boom of the marketplace in current months and is anticipated to keep in 2021. The covid-19 eruption has brought about substantial disruption withinside the car industry. It has caused the closure of production web sites and a lower in income volume. Furthermore, requirement each for passenger and business motors is anticipated to fall in 2020. This anticipated decline can have a terrible effect at the marketplace, as car manufacturing is without delay associated with car AVM (around view monitoring) marketplace.

LATEST TRENDS

"Integration Of Artificial Intelligence And Machine Learning Algorithms Will Drive Market Growth"

Integration of artificial intelligence and machine learning algorithms into AVM systems. These technologies make it possible to detect objects in real time and thus provide the driver with more accurate and reliable information. In addition, advances in camera technology and advanced image processing capabilities further improve the efficiency and functionality of AVM systems.

AUTOMOTIVE AROUND VIEW MONITORING (AVM) MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Front View Monitoring, Rear View Monitoring, Curbside View Monitoring.

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• By Application

Based on application the global market can be categorized into Passenger Car, Commercial Car.

In passenger cars, AVM is used to assist with parking, steering in tight spaces and avoiding obstacles.

In commercial vehicles, it helps reduce the blind spot, improve the driver's visibility and prevent accidents when driving or reversing on busy streets. AVM is becoming an essential feature of modern vehicles to improve overall safety and ease of use.

DRIVING FACTORS

"Growing Number Of Airports Is Fueling Market Growth"

Market CAGR for car surround view structures is pushed through the growing want for superior protection functions like surround view structures in cars. Because of this, many automobile organizations now encompass or provide surround view structures as well known or more gear of their vehicles. Augmented truth and 3-D visualization generation in surround view structures are different trends. It offers drivers an extra correct and immersive view in their surroundings. Also, full-view structures are getting more and more likely to apply high-tech cameras and sensors like radar to lead them to extra specific and reliable. New gamers also are coming into the marketplace, because of this that extra opposition exists. At the identical time, mergers and offers make it simpler for the huge gamers to paintings together. Demand for car surround view structures is predicted to upward push because of the problems cited above withinside the future.

"Increasing Technological Advancements Leading To Affordable Security Technologies Will Expand The Market"

One of the major factors fueling the global automotive around view monitoring (AVM) market growth is technological advancements leading to affordable security technologies with cameras. New automotive applications such as ADAS and other systems use advanced electronic systems and components. In addition, the market for such systems is driven by changing consumer demands and the need for security and convenience. In addition, safety and infotainment/indoor electronics have made great strides in recent times, with governments providing safety and car OEMs ratifying it. In addition, the increase in disposable income of customers and the preference for advanced systems has also accelerated the development of safety and emergency systems and showrooms in the interior and exterior electronic spaces of automobiles. The growing demand for safety, comfort and convenience in vehicles promises to drive the automotive surround view system industry in the coming years. In addition, gradually decreasing development and manufacturing costs along with the availability of latest technologies are also driving the growth of the global automotive surround view systems market.

RESTRAINING FACTORS

"High Installation Costs May Hinder The Market Growth"

The growth of the car camera market is hindered by high installation costs. This obstacle hinders market expansion as manufacturers and consumers face challenges related to the cost of installing these camera systems.

AUTOMOTIVE AROUND VIEW MONITORING (AVM) MARKET REGIONAL INSIGHTS

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"North America Dominating the Market due to Growing Demand For Luxury Vehicles"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America is expected to dominate the automotive around view monitoring (AVM) market share due to growing demand for luxury vehicles in Canada, the U.S., and Mexico, which is related to increasing installation of ADAS in commercial vehicles and passenger cars in the region. The automotive AVM market in North America is driven by the increasing number of automotive and the technological advancement of automobiles, among others. Increasing the transportation of goods from one place to another proved useful for AVM (surrounded surveillance) in the automotive industry.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The automotive around view monitoring (AVM) market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Continental (Germany)
• Magna International (U.S.)
• Renesas Electronics (Tokyo)
• Ficosa (Spain)
• Valeo (France)
• Bosch (Germany)
• Fujitsu (Japan)
• Hyundai Mobis (South Korea)

INDUSTRIAL DEVELOPMENT

May 2023: In the rapidly evolving landscape of automotive technology, small but powerful cameras with wide range and resolution are essential. Balancing power and efficiency becomes critical, especially as camera integration increases between successive vehicle generations. TAIYO YUDEN meets this challenge by providing cutting-edge solutions to optimize camera module power supplies, taking innovation to new heights in the automotive industry.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.