The side-view camera system market is projected to reach USD 388 million by 2027 from USD 2 million in 2020, at a CAGR of 112.0%. The growth of the market is driven by increased demand for luxury vehicles, the advent of autonomous and semi-autonomous vehicles, implementation of advanced active safety features in automotive is expected to foster the demand for side view camera systems.
The side-view camera system market is dominated by global players such as Hyundai Mobis (South Korea), Continental AG (Germany), Valeo (France), Samvardhana Motherson (India), Magna International (Canada), Robert Bosch (Germany), and Stoneridge (US). These companies develop new products, adopt expansion strategies, and establish collaborations, partnerships, and mergers & acquisitions to gain traction in the side view camera system market.
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Hyundai Mobis (South Korea) is a key player in the side view camera system market. The company designs and delivers solutions for autonomous driving, connectivity, and electrification. It developed South Korea’s first camera monitor system and planned to replace side-view mirrors with a set of cameras and monitors. According to the company, the camera sensor has a 35⁰ field of view, twice the viewing area compared to a regular rearview mirror’s
Continental AG (Germany) has the potential to become a leader in the side view camera system market. The company’s expertise in passenger safety, connectivity services, and telematics will play a crucial role in the future. The company offers side view camera systems for passenger cars and commercial vehicles. It developed a side-view camera system called ProViu mirror that features side-mounted cameras and displays for commercial vehicles.
Valeo (France) strengthened its market position with the acquisition of Japan-based Ichikoh Industries in 2017. Ichikoh Industries is one of the first companies in Japan to unveil the camera monitor system that can replace side-view mirrors. Valeo launched a side-view camera system called Sightstream in 2015. According to the company, the system reduces fuel consumption by improving vehicle aerodynamics and opens new vehicle design opportunities for OEMs.
Side View Camera System Market by Camera Type (Single Camera & Multi-Camera), Component (Camera, ECU, and Display), Vehicle (Passenger Car & Commercial Vehicle), and Region (Asia Pacific, Europe, North America and RoW) – Global Forecast to 2027
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