Side View Camera System Market Analysis, Development, and Forecast by 2031

The side view camera system market is expected to register a CAGR of 35.9% during 2023–2031. The increasing adoption of luxury electric vehicles is one of the major trends in the side-view camera system market.

Side View Camera System Market Analysis

• The growth in automotive production across different regions is one of the major factors supporting the market growth for side view camera systems worldwide. Further, the rising commercial vehicle production is another major factor fuelling the side view camera system market growth. This is due to the boom in transportation and logistics sectors that has been witnessing a strong rise in terms of the demand for commercial vehicles such as trucks and trailers. This is further propelling the demand for side-view camera systems worldwide.

Side View Camera System Market Overview

• The global side view camera system market is likely to witness significant growth in the coming years. This is mainly due to the growing production of automobiles including passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Moreover, the growth production of premium electric vehicles across different regions is another major factor likely to provide new opportunities for market vendors in the coming years.

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Side View Camera System Market: Strategic Insights

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Side View Camera System Market Drivers and Opportunities

Growing Sales of Luxury Cars

• Overall, the side view camera system market is increasing at a significant rate due to a higher rate of passenger cars. This is mainly due to the growing demand for vehicles among the upper-middle class and upper population worldwide which is also propelled by the rising disposable income per individual across different regions.
• Further, according to The Insight Partners’ analysis, the total luxury vehicles sold in 2021 worldwide was around 151.3 thousand units which further recorded a sale of around 184.3 thousand units in 2023. Moreover, in 2024, the sales of luxury cars are likely to hit a figure of around 187 thousand units which is further likely to drive the demand for side view camera systems market globally. 

Demand from Vehicle Upgrades

• Most vehicle owners across different regions have their preferences for making their vehicles according to their comfort and usage. Another factor includes the constantly rising global fleet and sales of passenger and commercial vehicles. This factor is pushing the adoption of side-view camera systems among different end users of vehicles worldwide. Moreover, the future growth for side view camera systems is also expected to be impacted positively by the demand generated from the aftermarket and demand generated from the need to upgrade the vehicle features among the end users.

Side View Camera System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the side view camera system market analysis are type, component, and vehicle type.

• Based on type, the side view camera system market is segmented into single-camera systems and multi-camera systems.
• Based on vehicle type, the side view camera system market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles.
• Based on components, the side view camera system market is segmented into ECU, camera, and display.

Side View Camera System Market Share Analysis by Geography

• Side View Camera System Market Report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering side view camera system market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the side view camera system market in these regions.

Side View Camera System Market Regional Insights

The regional trends and factors influencing the Side View Camera System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Side View Camera System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Side View Camera System Market Report Scope

Side View Camera System Market Players Density: Understanding Its Impact on Business Dynamics

The Side View Camera System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Side View Camera System Market are:

1. Magna International Inc
2. Mitsubishi Electric
3. Continental AG
4. Panasonic Corporation
5. Kyocera Corporation
6. Robert Bosch GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

Side View Camera System Market News and Recent Developments

The side view camera system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the side view camera system market are listed below:

• Pro-Vision, a leading provider of mobile video solutions, is excited to announce the launch of their AHD Mirror-Mount Side Camera. Designed specifically for trucks with boxes wider than the cab, this advanced camera system extends visibility and significantly reduces blind spots, improving safety and mobility on the road. (Source: Pro-Vision, Company Website, July 2023)
• Motive, the leader in Automated Operations for the physical economy, today announced the launch of its AI Omnicam, the first ever AI-enabled camera built for side, rear, passenger, and cargo monitoring. The AI Omnicam, when paired with Motive’s market-leading AI Dashcam, will give businesses that operate commercial vehicles a full 360° view of their vehicle, its interior, and its surroundings to improve road and job site monitoring and safety, investigate and combat potential fraudulent claims, and resolve disputes over transportation and handling of valuable cargo and goods. (Source: Motive, Company Website, June 2023)

Side View Camera System Market Report Coverage and Deliverables

The “Side View Camera System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Side view camera system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Side view camera system market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST analysis
• Side view camera system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the side view camera system market
• Detailed company profiles