PARK ASSIST CAMERA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

The park assist camera market has been witnessing steady growth over the past decade due to rising demand for driver assistance systems and increasing vehicle production across the globe. Park assist cameras use rear or front-mounted cameras to provide drivers with a clear view behind or around the vehicle on the in-vehicle display. This helps improve driver visibility and awareness during parking, thereby reducing the risk of accidents. Various automakers have been incorporating park assist cameras as standard features in high-end vehicles, while the aftermarket for these cameras has also grown significantly. Advancing camera technologies, increasing compute power and lower prices are expected to further accelerate the adoption of park assist cameras in mass-market vehicles over the coming years.

Market Dynamics:

The growth of the park assist camera market is driven by several factors. Rapid sales of luxury and premium vehicles equipped with advanced driver assistance systems is a key driver. Continued decline in camera prices and growing demand for vehicle safety and convenience features also drives the market. However, the market faces challenges from the emergence of alternative sensors like ultrasonic and security cameras. Nevertheless, increasing awareness about safety benefits of park assist cameras among buyers presents significant opportunities. Automakers are also expanding standard integration of these cameras across their product lineups to meet evolving regulations. Development of multi-camera systems and integration with surround view technologies will further open up new avenues over the forecast period.

Key features of the study:

• This report provides in-depth analysis of the park assist camera market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the park assist camera market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Continental AG, Valeo, Robert Bosch, Denso Corporation, Magna International, Ficosa, ZF Friedrichshafen, Gentex, Aptiv, and Renesas Electronics
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The park assist camera market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the park assist camera market

Detailed Segmentation:

• Park Assist Camera Market, By Vehicle Type
• • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Electric Vehicles
  • Others
• Park Assist Camera Market, By Technology
• • Rearview camera system
  • 360 degree camera system
  • Around view monitor system
  • Others
• Park Assist Camera Market, By Component
• • Camera
  • Display Unit
  • Sensors
  • ECU Module
  • Others
• Park Assist Camera Market, By Sales Channel
• • OEMs
  • Aftermarket
• Park Assist Camera Market, By Region
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Top Companies in Park Assist Camera Market
• • Continental AG
  • Valeo
  • Robert Bosch
  • Denso Corporation
  • Magna International
  • Ficosa
  • ZF Friedrichshafen
  • Gentex
  • Aptiv
  • Renesas Electronics