Commercial Vehicle Surround View System Market Is Set To Reach XX USD Million By 2032, Growing At A CAGR Of 14.73

Key Insights

The size of the Commercial Vehicle Surround View System Market was valued at USD 3.3 USD Billion in 2023 and is projected to reach USD 8.63 USD Billion by 2032, with an expected CAGR of 14.73% during the forecast period. A Commercial Vehicle Surround View System is an advanced camera-based technology designed to provide a comprehensive, 360-degree view around a vehicle. This system enhances driver visibility and safety by integrating multiple cameras positioned around the vehicle, typically at the front, rear, and sides. Types of surround view systems include basic 360-degree systems, which offer a bird’s-eye view, and advanced versions with features like dynamic guidelines and object detection. Key features often include real-time image stitching, obstacle detection, and enhanced night vision. Applications span across various commercial vehicles such as trucks, buses, and delivery vans, where improved visibility assists in maneuvering in tight spaces, reducing blind spots, and preventing collisions.

Commercial Vehicle Surround View System Market Trends

The growing emphasis on safety has led to the implementation of stringent regulations worldwide, including the European Union's General Safety Regulation (GSR) and the United States' Federal Motor Vehicle Safety Standard (FMVSS). These regulations mandate the installation of surround view systems on commercial vehicles.

Advancements in camera technology are also contributing to the growth of the market. High-resolution cameras with wide-angle lenses and improved image processing capabilities provide drivers with a clearer and more comprehensive view of their surroundings.

Driving Forces: What's Propelling the Commercial Vehicle Surround View System Market

The primary driving force behind the growth of the commercial vehicle surround view system market is the increasing demand for improved safety and enhanced driver awareness. Surround view systems provide drivers with a comprehensive view of their surroundings, helping them to identify potential hazards and avoid accidents.

Government regulations, such as the Federal Motor Vehicle Safety Standard (FMVSS) 111, are also contributing to the growth of the market. This regulation mandates the installation of rear-view cameras on all new passenger vehicles by 2018. The adoption of surround view systems is expected to grow in the coming years as the demand for enhanced safety features increases.

Challenges and Restraints in Commercial Vehicle Surround View System Market

Despite the strong growth potential, the commercial vehicle surround view system market faces several challenges. These include the high cost of the systems, the need for specialized installation, and the lack of standardization in the industry.

Key Region or Country & Segment to Dominate the Market

The Asia-Pacific region is expected to dominate the commercial vehicle surround view system market, due to the increasing demand for safety features in China and India. The European and North American markets are also expected to grow steadily in the coming years.

The 3D surround view segment is expected to witness significant growth, due to the increasing popularity of 3D cameras and the benefits they offer in terms of improved visibility and situational awareness.

Growth Catalysts in Commercial Vehicle Surround View System Industry

• Growing demand for enhanced safety features
• Increasing adoption of ADAS technologies
• Government regulations mandating surround view systems
• Advancements in camera technology
• Rising awareness of the benefits of surround view systems

Market Segmentation: Commercial Vehicle Surround View System Analysis

• View Type
  • 2 Dimension
  • 3 Dimension
• Product Type
  • 4 Cameras
  • 6 Cameras
  • Others
• Application Type
  • Park Assist
  • Lane Departure Warning
  • Blind Spot Detection
  • Others
• Market Type
  • OEM
  • Aftermarket

Leading Players in the Commercial Vehicle Surround View System Market

• Delphi Automotive 
• Ambarella
• Continental
• Fujitsu
• Valeo
• Stonkam
• Clarion
• Bosch
• Continental AG 
• Denso

Significant Developments in Commercial Vehicle Surround View System Sector

• In 2019, Delphi Automotive announced a partnership with Ambarella to develop a new generation of surround view systems for commercial vehicles.
• In 2020, Continental unveiled a new surround view system with integrated artificial intelligence (AI) capabilities.
• In 2021, Fujitsu launched a new surround view system with a 360-degree field of view.

Comprehensive Coverage Commercial Vehicle Surround View System Market Report

• Market size and growth rate
• Market trends and drivers
• Challenges and restraints
• Key region or country and segment to dominate the market
• Growth catalysts
• Market segmentation
• Leading players
• Significant developments

Regional Insight

• Asia-Pacific
• Europe
• North America
• South America
• Middle East and Africa

Pricing Strategies

• Tiered pricing
• Volume discounts
• Bundled pricing

DROCs

• Direct
• Retail
• Online

Segmentation

• View Type
  • 2 Dimension
  • 3 Dimension
• Product Type
  • 4 Cameras
  • 6 Cameras