The automotive surround view systems market size is expected to grow by $ 4.98 bn during 2020-2024, progressing at a CAGR of about 11%. The report provides thorouh insights on the COVID-19 impact on the market and new business opportunities, if any, during the pandemic period. According to Technavio research experts, we expect the impact to be significant during the first quarter, which should gradually alleviate in subsequent quarters – with a limited impact on the full-year economic growth.
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Automotive Surround View Systems Market Trends & Drivers
The automotive surround view systems market research report has a detailed analysis on the key drivers, trends, and challenges, which will help vendors in making important business decisions and modifications to cater to the changing consumer demand. While it is essential to capitalize on key drivers such as increased affordability of camera-assisted safety technologies, it is also crucial to understand the challenges that will impede sales during the forecast period. Identifying and addressing market growth challenges will create additional opportunities for the existing and new market players.
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The automotive surround view systems market has also explored key trends such as increasing penetration rate of adas and advanced safety systems in commercial vehicles, which will have a significant positive impact on the market growth over the forecast period. A thorough study of the market trends will enable vendors to understand demographics effectively, which can be used to further product and service innovation.
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Automotive Surround View Systems Market: Segmentation Analysis
This market research report segments the automotive surround view systems market by Type (Passenger cars and Commercial vehicles) and Geography (Europe, North America, APAC, MEA, and South America).
The Europe region led the automotive surround view systems market in 2020, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as .
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A few of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario