Northbrook, IL -- (SBWIRE) -- 01/18/2019 -- The multi camera system market is estimated to be USD 700.7 Million in 2017 and is projected to reach USD 2,843.4 Million by 2025, at a CAGR of 19.13% during the forecast period. The base year for the study is 2017 and the forecast period is 2018–2025.

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The multi camera system market is primarily driven by the increased emphasis of insurance companies on safety features, the rise in trend of integrating additional safety features to enhance the vehicle safety performance, and increased demand for premium segment vehicles. However, the high cost of the multi camera system is inhibiting the growth of this market.

The ecosystem of the automotive multi camera system market consists of multi camera system manufacturers such as Bosch (Germany), Continental (Germany), Delphi (UK), Valeo (France), and Clarion (Japan). The multi camera systems are supplied to automotive OEMs such as BMW (Germany), Daimler (Germany), and Volkswagen (Germany).

Target Audience

* Multi camera system for automotive manufacturers and component suppliers
* Automotive AR system manufacturers and component suppliers
* Automotive display panel manufacturers
* Automotive OEMs
* Industry associations and other driver assistance systems manufacturers
* The automobile industry and related end-user industries

The passenger vehicle segment is estimated to hold the largest share of the multi camera system market. A key growth driver for the multi camera system market for passenger cars is the rising consumer awareness of road and vehicle safety. The commercial vehicle segment is expected to adopt the multi camera system at a significant rate from 2019. The adoption of advanced technologies continues to be slow in commercial vehicles due to the impact of technology on the overall cost of the vehicle. However, increasing mandates, regulations, increasing road fatality rates, accidents while parking, and consumer awareness of safety system are driving the adoption of advanced safety functions in a wide range of commercial vehicles.

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