Side View Camera System Market Size

Side View Camera System Market Size

Side View Camera System Market size exceeded USD 75 million in 2020 and is expected to grow at a CAGR of over 25% CAGR from 2021 to 2027. The global industry shipments are anticipated to be around 2 million by 2027.

A side view camera shows an expanded view of a lane beside the driver while using a turn signal, or when the driver activates the feature manually. The cameras are fixed to the side mirrors to provide the right and left view of the vehicle, enabling the driver to maneuver efficiently through a narrow road or while parking the car.
 

The increasing demand for automotive solutions that ensure improved driver and passenger safety will boost the side view camera system market growth. The side view camera forms a crucial aspect of Advanced Driver Assistance Systems (ADAS) technology, by enabling a complete view of the 360-degree surroundings of the vehicle. Illustrations of ADAS applications that employ surround-view cameras include parking assist, lane departure, pedestrian detection, blind side detection, and adaptive cruise control. The side view camera offers integrated view of a vehicle’s surroundings, thereby improving occupant safety and enabling autonomous driving even when the driver’s view is obstructed due to harsh weather conditions.
 

In 2020, the coronavirus (COVID-19) pandemic hampered the side view camera system market expansion. The industry witnessed a downfall in 2020 attributed to the stringent lockdowns imposed by government organizations, resulting in the temporary closure of manufacturing and R&D facilities. The downfall of the automotive industry owing to the decline in the demand attributed to economic instability, in turn resulting in a low demand for side view camera technologies. The improving economic conditions in 2021, following the relaxation in lockdown measures will however help the industry gain traction by the end of 2021. The reopening of production facilities will foster the automotive industry globally, in turn supporting the demand for side view cameras.