A new report published by Transparency Market Research anticipates that the number of fatal injuries in vehicle crashes is increasing owing to the increasing number of on-road vehicles will expand the global automotive 360 degree technology market during 2018-2026.
The global 360 degree technology market can be segmented based on sensor, resolution, application, sales channel, vehicle type, and region. In terms of sensors, the global automotive 360 degree technology market can be segregated into two segments. Cameras are inexpensive and able to provide a precise view of the surroundings and hence, consumers and vehicle manufacturers prefer camera-based 360 degree technology. Based on resolution, the automotive 360 degree technology market can be divided into three segments. High definition (HD) cameras provide in-depth view of the surroundings at comparative lower cost. Therefore, they are being widely used in 360 degree technology. For higher resolution than HD camera, ultra high definition (UHD) cameras are employed; however these are preferred by luxury and premium class vehicles owing to their high cost.
The global automotive 360 degree technology market can be segmented into five prominent regions. Europe and North America comprise countries with marginally higher per capita income, higher standard of living, and raised concern about vehicle safety; hence, these regions witness a significant demand for vehicle safety and comfort technologies such as 360 degree technology. Europe is a technological hub for the automotive industry.
The global automotive 360 degree technology market comprises several global players such as Continental AG, Robert Bosch GmbH, Valeo, Gazer Ltd., Ambarella, FUJITSU, Brigade Electronics Group Plc, and Seon. Increasing awareness about the importance of advanced vehicle technologies, in order to reduce accidents, is likely to offer lucrative opportunities for key players operating the global automotive 360 degree technology market.
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