The Automotive AVM (Around View Monitoring) Market size was valued at USD 1.85 Billion in 2022 and is projected to reach USD 4.12 Billion by 2030, growing at a CAGR of 10.6% from 2024 to 2030.
The automotive Around View Monitoring (AVM) system offers a 360-degree view of the vehicle's surroundings, assisting drivers with parking, maneuvering in tight spaces, and enhancing overall vehicle safety. The AVM technology is deployed across various vehicle types, with its applications segmented into two main categories: passenger vehicles and commercial vehicles. These applications leverage the AVM system to address specific operational and safety needs within each segment.
The passenger vehicle segment holds the largest share in the automotive AVM market. The increasing demand for advanced safety features in passenger cars has led to the widespread adoption of AVM systems. The technology enhances the driving experience by providing a comprehensive bird's-eye view of the area surrounding the vehicle. This helps drivers navigate through congested urban environments, tight parking spaces, and busy streets with greater ease and confidence. AVM systems also contribute to the reduction of blind spots, improving the safety of pedestrians and other vehicles on the road.
Passenger vehicles, especially mid-range and premium models, are increasingly being equipped with AVM technology as part of their standard safety packages. The growing consumer preference for vehicles with advanced driver assistance systems (ADAS) and enhanced safety features is driving the market growth in this segment. Additionally, AVM systems help in preventing low-speed collisions and improving overall vehicle maneuverability. The adoption of AVM is expected to continue rising with the increasing integration of other safety technologies such as parking sensors, cameras, and radar systems in passenger vehicles.
The commercial vehicle segment, which includes trucks, buses, and delivery vehicles, is also experiencing significant growth in the AVM market. Commercial vehicles often operate in complex environments, such as construction sites, busy urban streets, and delivery zones. The use of AVM systems in this segment is driven by the need for improved maneuverability, operational efficiency, and driver safety. AVM technology allows drivers of large vehicles to have better visibility of their surroundings, especially in blind spots, thus reducing the risk of accidents and improving overall vehicle safety during parking or low-speed driving.
In the commercial vehicle segment, AVM systems are particularly valuable for fleet operators looking to minimize the risk of accidents and improve the safety of their drivers and cargo. AVM assists in improving the operational efficiency of commercial vehicles by enhancing parking accuracy, particularly in tight spaces or during urban deliveries. Fleet managers also benefit from the use of AVM systems for monitoring driver behavior, ensuring compliance with safety regulations, and reducing potential repair costs due to accidents. The growing adoption of AVM systems in the commercial vehicle market is expected to rise, especially as governments and regulatory bodies emphasize safety standards and the implementation of driver assistance technologies.
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By combining cutting-edge technology with conventional knowledge, the Automotive AVM (Around View Monitoring) market is well known for its creative approach. Major participants prioritize high production standards, frequently highlighting energy efficiency and sustainability. Through innovative research, strategic alliances, and ongoing product development, these businesses control both domestic and foreign markets. Prominent manufacturers ensure regulatory compliance while giving priority to changing trends and customer requests. Their competitive advantage is frequently preserved by significant R&D expenditures and a strong emphasis on selling high-end goods worldwide.
Valeo
Continental
Magna
Hitachi
Densoten
Panasonic
Bosch
Hyundai Mobis
Desay SV
Baolong
North America (United States, Canada, and Mexico, etc.)
Asia-Pacific (China, India, Japan, South Korea, and Australia, etc.)
Europe (Germany, United Kingdom, France, Italy, and Spain, etc.)
Latin America (Brazil, Argentina, and Colombia, etc.)
Middle East & Africa (Saudi Arabia, UAE, South Africa, and Egypt, etc.)
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Several key trends are shaping the development and growth of the automotive AVM market. These trends include:
Integration with ADAS: The increasing integration of AVM systems with other advanced driver assistance systems (ADAS), such as lane-keeping assist, collision avoidance, and automatic emergency braking, is driving the market's expansion. This synergy between different safety technologies offers a comprehensive solution for driver safety and convenience.
Higher Adoption of AVM in Electric Vehicles: The rise of electric vehicles (EVs) is also contributing to the growth of the AVM market. EV manufacturers are incorporating AVM systems to enhance driver visibility and safety, given the often unique designs and challenges associated with EVs.
Enhanced Image Processing Technology: The improvement in image processing technology, such as higher-resolution cameras and more powerful processors, is making AVM systems more effective in providing clear and real-time 360-degree views of the vehicle's surroundings.
Focus on User Experience: The development of more user-friendly interfaces, including augmented reality (AR) displays, is enhancing the adoption of AVM systems. These innovations aim to make it easier for drivers to interpret the 360-degree view, making the system more accessible for both novice and experienced drivers.
The automotive AVM market presents numerous opportunities, including:
Expanding Market for Autonomous Vehicles: As autonomous driving technologies continue to evolve, AVM systems will play an essential role in enhancing the safety and awareness of autonomous vehicles. The growth of autonomous vehicles presents significant opportunities for the market as these systems will be integrated into the vehicle's overall sensor suite.
Increased Adoption in Emerging Markets: As awareness of advanced vehicle safety technologies grows in emerging markets, there is an opportunity for AVM systems to gain traction in regions such as Asia-Pacific, Latin America, and the Middle East. Increased purchasing power and regulatory changes in these regions may drive the demand for AVM systems.
Integration with Smart City Infrastructure: The development of smart city infrastructure can provide further opportunities for AVM systems. By integrating AVM with connected traffic systems, vehicles can benefit from real-time traffic data, dynamic parking space information, and other services that enhance the driving experience.
1. What is an Automotive AVM system?
An Automotive AVM (Around View Monitoring) system provides a 360-degree view of the surroundings of a vehicle, helping the driver to park and navigate safely in tight spaces.
2. How does AVM technology work?
AVM uses multiple cameras installed around the vehicle, stitching the footage together to create a bird’s-eye view of the vehicle’s environment for the driver.
3. What are the benefits of an AVM system?
AVM systems improve safety by eliminating blind spots, assist with parking and maneuvering in tight spaces, and enhance overall vehicle awareness for the driver.
4. Which vehicles are most likely to have AVM systems?
AVM systems are commonly found in premium and mid-range passenger vehicles, as well as in commercial vehicles like trucks and buses, due to their size and operational needs.
5. How does AVM help reduce accidents?
AVM helps reduce accidents by offering a clearer view of obstacles and pedestrians around the vehicle, particularly in blind spots, enhancing driver awareness and reaction time.
6. Can AVM be used in electric vehicles?
Yes, AVM systems are being increasingly integrated into electric vehicles, especially due to their unique design and the need for enhanced safety and maneuverability.
7. Are AVM systems integrated with other vehicle safety technologies?
Yes, AVM is often integrated with other safety systems such as parking sensors, lane-keeping assist, and collision avoidance to provide a comprehensive safety package.
8. What type of cameras are used in AVM systems?
AVM systems typically use wide-angle cameras with high resolution to capture clear footage around the vehicle, which is then processed and displayed in a 360-degree view.
9. How much does an AVM system cost?
The cost of AVM systems varies depending on the vehicle and its features, but they typically range from a few hundred dollars to over a thousand dollars as part of an advanced safety package.
10. Is AVM technology available in all car models?
AVM is generally found in higher-end models or as part of optional safety packages, but it's becoming more common in mid-range vehicles as safety demands grow.
11. Does AVM improve parking accuracy?
Yes, AVM significantly improves parking accuracy by providing a 360-degree view, making it easier for drivers to park in tight spaces.
12. How does AVM contribute to fleet safety?
AVM contributes to fleet safety by enhancing visibility and reducing the risk of accidents, particularly during parking and low-speed maneuvers, protecting drivers and cargo.
13. Can AVM systems be retrofitted into older vehicles?
Yes, AVM systems can be retrofitted into older vehicles, though it may require significant installation work and may not integrate seamlessly with older vehicle technology.
14. Are AVM systems available globally?
Yes, AVM systems are available globally, though their adoption rates vary by region due to factors such as consumer preferences and regulatory standards.
15. How does AVM impact driver behavior?
AVM systems enhance driver behavior by providing a clearer view of their surroundings, which helps them make more informed decisions and avoid risky maneuvers.
16. Can AVM systems help with night driving?
Yes, AVM systems improve visibility in low-light conditions by using infrared or enhanced camera systems to capture better imagery, ensuring safety during night driving.
17. What are the limitations of AVM systems?
AVM systems can have limitations in extremely harsh weather conditions, such as heavy rain or snow, where camera clarity may be compromised.
18. Are AVM systems effective in large commercial vehicles?
Yes, AVM is particularly effective in large commercial vehicles by reducing blind spots and enhancing maneuverability in tight spaces or congested environments.
19. How does AVM differ from traditional rearview cameras?
AVM offers a full 360-degree view around the vehicle, whereas traditional rearview cameras only provide a view of the area behind the vehicle.
20. Will AVM technology become a standard feature in the future?
Given the increasing focus on vehicle safety, AVM technology is expected to become more common and could eventually become a standard feature in many vehicle models.