Automotive Perimeter Monitoring System Market Estimated size Discern 2x Expansion by 2027

• The perimeter monitoring system helps detect the surrounding obstacles and avoid a possible collision. The system comprises sensors, cameras, and monitors, which provide a 360 degree view of the surroundings of the vehicle.
• Rising concern about increasing number of causalities in vehicle crashes is fueling the market for automotive perimeter monitoring system. The perimeter monitoring system alerts the vehicle driver about a potential crash or collision in case of obstacles in the vicinity of the vehicle.

Key drivers of global automotive perimeter monitoring system market

• Demand for automotive systems that check the perimeter of vehicles, and consequently support safe driving, has been rising for the last few years. The perimeter monitoring system can generate a 360 degree view of the vehicle surrounding, enabling changes in perspective, unlike similar automotive products that convert camera images into planar form, join the images, and subsequently view the area around the vehicle from the sky. This system supports safe driving by augmenting the visual field of the driver, in situations such as backing up when parking, or at intersections with poor visibility.
• The system enhances safety by displaying signals on the camera and alerts driver about obstacles. The trend of offering such advanced features in side rear-view mirrors for trucks and cars is boosting the market.
• Rising preference toward autonomous vehicles is propelling the automotive perimeter monitoring system market

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Asia Pacific to hold prominent share of global automotive perimeter monitoring system market

• Increasing research and development on autonomous vehicles (AVs) in China, Japan, and India is further boosting the perimeter monitoring system market in Asia Pacific. Newly developed autonomous vehicles are integrated with more number of safety systems including the perimeter monitoring system.
• New entrants in the automotive market in China, India, Japan, and South Korea are likely to influence research and development on the perimeter monitoring system in the automotive market in Asia Pacific. Several free-trade agreements between Europe-Asia and UAS-Asia have resulted in economic growth of counties such as India, China, Malaysia, and South Korea in Asia Pacific, which has boosted the disposable income and enhanced living standards of the population in the region. This, in turn, is shifting consumer trends toward owning a vehicle equipped with advanced safety features.