Multi camera system for automotive is one of the emerging Advanced Driver Assistance System (ADAS) technologies which enhance the overall driving experience. Multi camera system mainly assist the driver in parking the vehicle, crossing the road, and in maneuver the vehicle at high traffic situation as it provides the top-down view of the vehicle surroundings. This system consists of four to eight wide-angle cameras installed in different sides of the car. Multi camera system is also used for many other ADAS applications such as road sign recognition, lane departure warning, forward collision warning, cross traffic alert, pedestrian collision warning, collision mitigation system, and others.

The multi camera system market is valued at USD 700.7 Million in 2017. The key growth drivers for the market are the increased emphasis of insurance companies on safety features, faster generation of real-time and reliable data from advanced driver assistance systems (ADAS), and the growth of autonomous and semi-autonomous vehicles. The 2D display type segment is estimated to hold the largest market share in 2017. However, the 3D multi camera system is estimated to be the fastest growing market during the forecast period and is anticipated to grow at a rapid pace due to technological advancements. In addition, the technology-driven companies are using the 3D multi camera system as a tool for developing autonomous and semi-autonomous vehicles. The parking segment is estimated to hold the largest market share of the automotive multi camera system market, by function type. However, the ADAS segment is estimated to be the fastest growing market owing to the growth of semi-autonomous and autonomous vehicles and advanced driver assistance functions based on the multi camera system. By the level of autonomous driving, the Level 2 & 3 segment is estimated to be the fastest growing segment of the multi camera system market during the forecast period. However, the level 1 segment is estimated to be the largest segment of the multi camera system market during the forecast period. The growth of this segment can be attributed to the demand for a multi camera system in commercial vehicles, mid-range, and premium cars. 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. The North American region is estimated to be the largest market for multi camera system during the forecast period. Increased production levels of automobiles, higher adoption of advanced technologies in automotive electronics, and rapid growth of semi-autonomous and autonomous vehicles are expected to boost the demand for the automotive multi camera system market in this region. The Asia Pacific multi camera system market is estimated to be the fastest growing market during the forecast period. A key factor restraining the growth of the multi camera system market is the high cost of developing the system and its related technologies. However, the cost of the multi camera system is likely to decrease in the coming years because of large-scale production and increasing number of suppliers. While cost is not a matter of concern for the premium segment vehicles, it can substantially affect the economic and mid-segment vehicles. The multi camera system market is dominated by a few global players and comprises several regional players.

Multi Camera System Market vendors are placed into 4 categories based on their performance and reviews in each criterion: “visionary leaders,” “innovators,” “dynamic differentiators,” and “emerging companies".

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and the adoption of growth strategies. These players have a broad product offering that caters to most of the regions globally. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and their well-established brand equity.

Dynamic Differentiators are established players with very strong business strategies. However, they have a weaker product portfolio compared to the visionary leaders. They generally focus only on a specific type of technology related to the product.

Innovators in the competitive leadership mapping are vendors that have demonstrated substantial product innovations as compared to their competitors. The companies have focused on product portfolios. However, they do not have very strong growth strategies for their overall business, when compared with the visionary leaders.

Emerging companies have niche product and service offerings. Their business strategies are not as strong as that of the established vendors. The emerging vendors include the new entrants in the market, emerging in terms of product portfolio and geographic reach, and require time to gain significant traction in the market.