- Penetration of surround view ADAS in the low-cost vehicle market will offer benefits for automotive manufacturers and consumers alike.
Research from TechNavio, an independent tech-focused global research firm, shows that integration of advanced driver assistance systems (ADAS) in lower cost vehicles will lead to significant growth for the Global Automotive Surround View Systems Market, which is growing at a CAGR of 33.24 from 2014-2018.
Surround view aims to reduce collisions by giving a driver a 360-degree view of their vehicle in order to provide efficient warning of any obstacles or hazards.
While the initially high cost of surround view systems limited their adoption to the high-end vehicle market, there has been a push towards adopting these systems in the low cost medium and compact side car segments.
“Suppliers such as Continental AG are working closely with OEMs right from the product concept through to the development of low-cost ADAS for Medium-sized and Compact cars,” say TechNavio analysts.
“These are the segments that will help achieve economies of scale and reduce the price of ADAS. OEMs and suppliers need to focus on offering technologies that are affordable to increase their market penetration and ultimately reduce the occurrence of road accidents. The cost of surround-view systems can be reduced by increasing production efficiency or developing low-cost systems.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Automotive Surround View Systems Market please send an e-mail to media@TechNavio.com
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Automotive Surround View Systems Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.
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