The Asia-Pacific multi camera system market is expected to witness significant growth in coming years owing to rising consumer demand for safety features and technology in automobiles, increasing mandates and regulation in many countries coupled with the growing demand of premium vehicles integrated with advanced driver assistance systems (ADAS).
On the basis of vehicle type, the industry is bifurcated into passenger car and commercial vehicle. The passenger car category is expected to hold a larger share in the Asia-Pacific multi camera system market during the forecast period, due to high production of passenger cars in the region coupled with the increasing preference of passenger car customers toward advanced safety features.
One of the major restraints for Asia-Pacific multi camera system market is the high installation cost. Installation of multi camera systems can cost an additional amount of $250 to $1000, which significantly increases the cost of the vehicle, restricting their adoption in economy and low segment cars. However, the cost of the product is expected to decrease in the coming years mainly due to high economy of scales and increasing number of suppliers; thus, benefitting the market in the coming years.
The Asia-Pacific multi camera system market is competitive due to the presence of a considerable number of manufacturers. The leading vendors in the industry are Robert Bosch GmbH, Continental AG, and Delphi Technologies PLC, which together constitute considerable share in the total sales of multi camera system. Some other key players of the industry include Ambarella Clarion Co. Ltd., Magna International Inc., NXP Semiconductors N.V., OmniVision Technologies Inc., Samvardhana Motherson International Limited, DENSO Corporation, Valeo SA, and Xilinx Inc.
