Automotive Camera Monitor System (CMS) Market Size, Share, Growth, and Industry Analysis, By Type (Wireless Type, Wired Type), By Application (Passenger Car, Commercial Vehicle), Regional Insights, and Forecast To 2032

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AUTOMOTIVE CAMERA MONITOR SYSTEM (CMS) MARKET REPORT OVERVIEW

Global Automotive Camera Monitor System (CMS) Market size was USD 1.49 Billion in 2023 and market is projected to touch 2.75 Billion by 2032, exhibiting a CAGR of 7% during the forecast period.

This advancement contributes to safer driving by offering better situational awareness and reducing the risk of collisions.

An Automotive Camera Monitor System (CMS) have replaced the traditional side and rearview mirrors with cameras and display screens to improve the visibility and safety of drivers and passengers. By using high-resolution cameras mounted on the exterior of the vehicle to capture real-time images of the surrounding environment, which will be displayed on interior monitors, providing drivers with a wider and clearer view of the surroundings, a better option than conventional mirrors. CMS technology has helped in minimising blind spots, improving aerodynamics, and offering features such as night vision and object detection.

The Automotive Camera Monitor System (CMS) Market is witnessing growth with the rising demand for enhanced vehicle safety, improved aerodynamics, and better fuel efficiency. The market is offering customers superior visibility and reduces blind spots, which increases their safety. With regulatory changes, the market is expanding its reach since these changes are promoting advanced driver-assistance systems (ADAS). Consumers are shifting towards innovative automotive technologies, and manufacturers, technology providers, and suppliers are working on these evolving requirements, propelling the market growth.

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 the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic has impacted badly the CMS market growth. The initial lockdown combined with the economic downturn led to reduced production in the vehicle sector as well as postponement of the upcoming project deals, which directly affected the demand for CMS technology. With delays in supplies, essential components were not available which caused a temporary pause in the ongoing projects. However, as the ease regarding the lockdown measures were taken by the regulatory bodies the safety features were a top priority on the customer’s list and the automotive market started its steady growth at a slow pace.

LATEST TRENDS

"360-Degree Systems to Drive Market Growth"

The 360-degree surround-view systems, are trending in the CMS market. This advanced feature combines feeds from multiple cameras positioned around the vehicle to create a comprehensive, bird’s eye view, which enhances parking assistance, gives controls in tight spaces, and provides overall awareness of the situation. The rising demand for such systematic features is due to the growing preference for enhanced safety features and the push for higher safety standards by regulatory bodies. The advancements in camera technology are further driving the trend to heights. These advancements include higher resolution and improved night vision capabilities, making these systems more effective and reliable.

AUTOMOTIVE CAMERA MONITOR SYSTEM (CMS) MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Wireless Type, Wired Type.

• Wireless Type: CMS systems use wireless technology to transmit video signals from cameras to monitor, just with an easy installation process with which the system can offer flexibility in terms of placement. It is known for its aftermath solutions and in scenarios where running cables is impractical. The only challenges users might face are signal interference and latency issues.
• Wired Type: The CMS systems use physical cables in the wired type category, to connect cameras to monitors, offering a stable and reliable connection. Wired CMS is primarily used in original equipment manufacturer (OEM) installations due to its consistent performance and resistance to interference, which ensures high-quality video transmission with minimal delay, making it an ideal choice for critical applications such as real-time driving assistance and safety features.

By Application

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

• Passenger Car: CMS in passenger cars is improving the safety features and offering driver assistance, with features such as rearview cameras, surround-view systems, and lane departure warnings. These features help consumers with drivers parking, navigating tight spaces, and avoiding collisions, fulfilling demand for higher safety standards and more advanced technology in their vehicles, increasing CMS adoption in the market.
• Commercial Vehicle: In commercial vehicles, the CMS is highly needed for both safety and operational efficiency, such as in trucks, buses, and other commercial vehicles benefit from systems such as blind-spot monitoring, rearview cameras for large trailers, and side-view cameras. With these systems, the commercial sector has now improved driver visibility, minimum number of accidents and safe transportation of goods and passengers, driving the growth of CMS in commercial vehicles.

DRIVING FACTORS

"Enhanced Safety and Technological Advancements to Boost the Market"

The growing demand for vehicle safety features is driving the Automotive Camera Monitor System Growth. Regulatory bodies possibly from all the regions are making it mandatory to have integrated advanced safety systems in the vehicles to reduce accidents, especially those that are on-road. CMS is providing critical functionalities such as blind-spot detection, lane departure warnings, and rearview assistance, significantly improving road safety.

With rising advanced driver-assistance systems (ADAS), industries are adopting CMS, as they are getting enhanced image processing, artificial intelligence, and machine learning which is improving the performance and reliability of these systems. This has compelled manufacturers and consumers to use these attractive systems that will make their work easy.

"Convenience and Autonomous Vehicles to Propel the Market Growth"

Modern consumers are looking for advanced and enhanced driving experience and convenience. CMS offers advanced features such as automated parking assistance and 360-degree surround-view monitoring. These features have worked like magic for them simplifying their driving tasks and providing a more comfortable and stress-free experience, driving the popularity of the automative methods, leading to Automotive Camera Monitor System Market Growth.

Consumers have shifted to ease, in most sectors and the automotive camera market is one of them. Electric and autonomous vehicles have offered customers advanced monitoring systems, making it an essential and easy approach for autonomous driving, offering them real-time data and monitoring capabilities that are important for the safe operations of self-driving cars. This rapid development and adoption of these vehicles have boosted the CMS Market.

RESTRAINING FACTORS

"High Costs and Standardization Challenges to Impede Market Growth"

The advanced technology and sophisticated components using CMS have increased the overall cost of the vehicle, making them less affordable for price-sensitive markets or buyers. This is creating a hurdle for the vast adoption rate among manufacturers and consumers from adopting these systems widely.

With a lack of information about regulations and standards across different regions, the market is facing challenges with the adoption rate. The regulations include different safety standards, testing protocols, and certification requirements, which makes it highly complicated for manufacturers and they eventually opt-out from implementing it. This is slowing down the market’s growth and innovation.

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AUTOMOTIVE CAMERA MONITOR SYSTEM (CMS) MARKET REGIONAL INSIGHTS

"European Region Dominating the Market Due to the Presence of Strict Measures of Transportation "

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

Europe is the global leader and highest holder of the Automotive Camera Monitor (CMS) Market Share. The region has implemented stringent vehicle safety regulations and high consumer demand for advanced driver assistance systems (ADAS). European countries are focusing on maintaining the strict safety standards that will encourage the adoption of CMS to improve vehicle safety, and for which several manufacturers and technology companies are working on innovation and development, where they can minimise road accidents and improve driver visibility, propelling growth altogether and setting the dominance of Europe all around the world.

KEY INDUSTRY PLAYERS

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

Key industry players such as Bosch, Continental, and Valeo are leading in the market and driving innovation and expanding the CMS market. These key players are keeping their focus on advancing camera resolution, improving image processing capabilities, and integrating features such as night vision and augmented reality overlays. Key players are establishing good relationships in the market by doing partnerships, mergers, and acquisitions to expand their product portfolios and global footprint. They are investing in R&D and keeping their regulatory requirements up to date with fulfilments of market requirements, reshaping the CMS market with state-of-the-art technologies that will improve the vehicle safety and driver assistance systems.

List of Market Players Profiled

• Ficosa (Spain)
• Samvardhana Motherson Reflectec (SMR) (India)
• Gentex (U.S.)
• Stoneridge (U.S.)
• Journeo (U.K.)
• Murakami Corporation (Japan)
• Continental Automotive (Germany)
• MEKRA Lang (Germany)
• Brigade Electronics (U.K.)
• Sensata Technologies (U.S.)

INDUSTRIAL DEVELOPMENT

January 2024: Ficosa International, a leading global company dedicated to the research, development, production, and marketing of advanced vision, safety, and efficiency solutions for the automotive industry, andindie Semiconductor(Nasdaq: INDI), an Autotech semiconductor solutions innovator, have executed a collaboration agreement to develop and commercializeautomotive camera solutionsdeploying neural network-based (NN)artificial intelligence(AI) processing.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Automotive Camera Monitor System (CMS) Market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.