What is Global Automotive AVM (Around View Monitoring) Market?
The Global Automotive AVM (Around View Monitoring) Market refers to the industry focused on the development, production, and distribution of advanced vehicle monitoring systems that provide drivers with a 360-degree view around their vehicles. This technology uses multiple cameras placed around the vehicle to create a composite, bird's-eye view, which is displayed on the vehicle's infotainment screen. The primary purpose of AVM systems is to enhance driver awareness and safety by eliminating blind spots and making parking and maneuvering in tight spaces easier. These systems are increasingly being integrated into both passenger and commercial vehicles, driven by the growing demand for advanced driver assistance systems (ADAS) and the push towards autonomous driving technologies. The market is characterized by rapid technological advancements, increasing consumer awareness, and stringent safety regulations, which are collectively driving the adoption of AVM systems across the globe.
OEM, Aftermarket in the Global Automotive AVM (Around View Monitoring) Market:
In the Global Automotive AVM (Around View Monitoring) Market, there are two primary segments: Original Equipment Manufacturers (OEMs) and the Aftermarket. OEMs are companies that produce parts and equipment that may be marketed by another manufacturer. In the context of AVM systems, OEMs are responsible for integrating these advanced monitoring systems into new vehicles during the manufacturing process. This integration ensures that the AVM system is seamlessly incorporated into the vehicle's design and functionality, providing a high level of reliability and performance. OEMs often work closely with technology providers and suppliers to develop customized AVM solutions that meet the specific needs of different vehicle models and brands. On the other hand, the Aftermarket segment refers to the market for AVM systems that are installed in vehicles after they have been sold. This includes both retrofitting older vehicles with new AVM technology and upgrading existing systems in newer vehicles. The Aftermarket segment is driven by consumers' desire to enhance their vehicle's safety features and the availability of cost-effective AVM solutions. Companies operating in the Aftermarket segment often offer a wide range of AVM products that can be easily installed by professional technicians or even by the vehicle owners themselves. Both OEM and Aftermarket segments play a crucial role in the growth and development of the Global Automotive AVM Market, catering to different consumer needs and preferences.
Passenger Vehicle, Commercial Vehicles in the Global Automotive AVM (Around View Monitoring) Market:
The usage of Global Automotive AVM (Around View Monitoring) Market technology varies significantly between passenger vehicles and commercial vehicles. In passenger vehicles, AVM systems are primarily used to enhance driver convenience and safety. These systems provide a comprehensive view of the vehicle's surroundings, making it easier for drivers to park, navigate through tight spaces, and avoid obstacles. The integration of AVM systems in passenger vehicles is often seen as a premium feature, appealing to consumers who prioritize safety and advanced technology in their vehicles. Additionally, the growing trend towards autonomous driving is further driving the adoption of AVM systems in passenger vehicles, as these systems are essential for the development and functionality of self-driving cars. In commercial vehicles, AVM systems serve a slightly different purpose. While safety remains a primary concern, the focus is also on improving operational efficiency and reducing costs. Commercial vehicles, such as trucks and buses, often operate in challenging environments where visibility is limited. AVM systems help drivers of commercial vehicles to better navigate these environments, reducing the risk of accidents and improving overall safety. Furthermore, AVM systems can assist in tasks such as loading and unloading cargo, ensuring that these operations are carried out smoothly and efficiently. The use of AVM systems in commercial vehicles is also driven by regulatory requirements and the need to comply with safety standards. Overall, the adoption of AVM technology in both passenger and commercial vehicles is driven by the need for enhanced safety, convenience, and efficiency, making it a critical component of modern automotive design.
Global Automotive AVM (Around View Monitoring) Market Outlook:
The global Automotive AVM (Around View Monitoring) market is anticipated to grow significantly, with projections indicating it will reach US$ 33,030 million by 2030, up from an estimated US$ 5,197.5 million in 2024, reflecting a compound annual growth rate (CAGR) of 36.1% during the period from 2024 to 2030. Major players in the industry, such as Valeo, Continental, and Magna, are expected to dominate the market, contributing 17.94%, 15.80%, and 12.45% of the output value in 2019, respectively. In terms of regional consumption, Europe leads the market, accounting for 31.65% of the total consumption in 2019. This growth is driven by the increasing demand for advanced driver assistance systems (ADAS) and the push towards autonomous driving technologies. The market is characterized by rapid technological advancements, increasing consumer awareness, and stringent safety regulations, which are collectively driving the adoption of AVM systems across the globe.
| Report Metric | Details |
| Report Name | Automotive AVM (Around View Monitoring) Market |
| Accounted market size in 2024 | an estimated US$ 5197.5 million |
| Forecasted market size in 2030 | US$ 33030 million |
| CAGR | 36.1% |
| Base Year | 2024 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Valeo, Continental, Magna, Hitachi, Densoten, Panasonic, Bosch, Hyundai Mobis, Desay SV, Baolong |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
