Global Bus Rear-view Camera (RVC) Market 2017-2021

Overview of the global bus rear-view camera (RVC) market

Market research analysts at Technavio predict that the global bus rear-view camera (RVC) market will grow steadily during the forecast period and in terms of units, will post a CAGR of almost 20% by 2021. This market research analysis identifies the growing demand for safety solutions as one of the primary growth factors for this market. Rising concerns about the pedestrian and passenger safety have influenced automobile manufacturers to equip their vehicles with safety systems and various driver assistance systems, such as surround-view systems, night vision systems (NVS), pedestrian protection systems, and forward collision warning (FCW) along with the integration of cameras with safety systems. These safety systems aid in avoiding accidents by monitoring the road conditions and alerting the driver of possible risks. The rear-view cameras installed in large vehicles such as buses help in reversing vehicles and consequently minimizes accidents.

This market research report identifies the accelerating use of wide angle camera technology in automobiles as one of the primary trends behind the growth of this industry. Various safety measures have been initiated giving importance to the safety of the pedestrians and the passengers, which trigger the development of the camera modules for automobiles. The use of the wide-angle camera technology captures the driver’s blind spots and reduces the risk of accidents by expanding the driver’s field of vision. Automotive manufacturers and OEMs are actively involved in improving the output from wide angle cameras. A Japan-based optical technologies provider Maxell, has already introduced a range of advanced wide angle lenses equipped with aspherical plastics.

Competitive landscape and key vendors

The competition is quite intense for the RCV market in passenger cars and LCVs whereas it is low for the RCV market for buses. The demand for safety equipment fitted buses is high in the Americas and EMEA since all the major vendors are operating in these regions. The competition among these few vendors is moderate due to slow growth rate of bus sales in addition to the regulations regarding safety systems and increased safety awareness. To sustain the market competition and improve revenue shares, vendors have the need to continuously innovate their offerings.

The leading vendors in the market are -

• STONKAM
• Luminator Technology
• Rear View Safety
• Vision Techniques

The other prominent vendors in the market are Rostra Precision Controls, Inc., Lintech Enterprises, and Veise Electronic.

Segmentation by end user and analysis of the bus rear-view camera market

• Original Equipment Manufacturers (OEMs)
• Aftermarket

During 2016, the OEMs segment dominated this market due to increase in demand for factory fitted RVCs. Factors such as the increasing demand for safety systems in larger vehicles and the decreasing cost of technology will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the bus rear-view camera market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market throughout the forecast period. The region is in the early stages of adoption of bus RVC, which will be the major factor for the region’s market dominance. Moreover, the focus of the leading OEMs in China to attract customers by providing advanced camera based driving assist and parking systems, will also considerably fuel the market’s growth in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global bus rear-view camera market?
• What are the key market trends impacting the growth of the global bus rear-view camera market?
• What are the challenges to market growth?
• Who are the key vendors in the global bus rear-view camera market?
• What are the market opportunities and threats faced by the vendors in the global bus rear-view camera market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global bus rear-view camera market?

Technavio also offers customization on reports based on specific client requirement.