Global Automotive 360 Degree Camera Market Overview: 2023-2028
Base Year: 2022
Historical Years: 2018-21
Forecast Years: 2023-2028
The Global Automotive 360 Degree Camera Market is projected to grow at a CAGR of around 12.2% during the forecast period, i.e., 2023-28.
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Global Automotive 360 Degree Camera Market Dynamics: 2023-2028
Market Dynamics
Key Driver: Rising Need for Advanced Safety Features Owing to The Growing Congestion On Roads and Parking Spaces
Navigating safely through congested areas and crowded parking spaces has become challenging for drivers as the number of vehicles on the road continues to increase. Thus, automakers are adopting advanced safety features such as 360-degree cameras to ensure complete coverage of the vehicle's surroundings. These cameras aid drivers in detecting obstacles, pedestrians, and other vehicles in blind spots, subsequently reducing the risk of accidents. Given the benefits, the adoption of 360-degree cameras is expected to grow in the automotive industry as safety becomes a top priority for consumers and manufacturers alike.
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Global Automotive 360 Degree Camera Market (2023-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Technology
-Digital Cameras
-Infrared Cameras
-Thermal Cameras
By Vehicle Type
-Passenger Cars
-LCVs
-HCVs
By Vehicle Class
-Economy
-Mid-Priced
-Luxury
By Level of Autonomy
-L1
-L2
-L3
-L4
-L5
By Application
-Park Assist
-ADAS
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
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Top Companies Operating in the Global Automotive 360 Degree Camera Market:
Robert Bosch GmbH, Continental AG, Aptiv, Valeo, Magna, Veoneer Holdings Company, LLC, Ficosa International, Inc., Mobileye, Denso, Gentex Corporation, ZF Friedrichshafen AG, Brigade Electronics Group PLC, Mcnex Co Ltd, Stonkam Company Limited, Teledyne Flir LLC, Others.
Recent Developments in the Market
- In February 2022, Brigade Electronics Group PLC announced the launch of a new AI (Artificial Intelligence) based commercial vehicle safety system CAREYE- “Safety Angle Turning Assistant” in countries across Europe, such as the U.K., France, Poland, and the Netherlands.
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