Automotive Perimeter Monitoring System Market: Global Applications Analysis and Forecast (2024-2030)

Global Automotive Perimeter Monitoring System Market volume was USD 2.77 Bn in 2023 and is expected to reach USD 4.06 Bn by 2030, exhibiting a CAGR of 5.6% during the forecast period (2024-2030)
Automotive Perimeter Monitoring System Market Overview
The perimeter monitoring system is a security system that helps to detect intrusion events through the perimeter and avoid a possible collision. This system consists of sensors, radar, cameras and monitors which provide the bird’s eye view through a full 360 degree around the vehicle. It also contributes to the safe driving at intersections in narrow streets. As per the study, the market is expected to witness growth during the forecast period. One of the major drivers of the market is the integration of ADAS technologies in vehicles.

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Global Automotive Perimeter Monitoring System Market Report Research Methodology

The objective of the report is to present a comprehensive analysis of the Global Automotive Perimeter Monitoring System Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SWOT, PESTLE analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Market dynamics, structure by analyzing the market segments and projects the Global Automotive Perimeter Monitoring System indutry size. Clear representation of competitive analysis of key players by Sales Channel, price, financial position, Product portfolio, growth strategies, and regional presence make the Global Automotive Perimeter Monitoring System Market report an investor’s guide.
Global Automotive Perimeter Monitoring System Market Dynamics
In recent years, the automotive industry has entered an era of great change “Automatic operation that is safer than human driving.” It is expected that the demand for technologies that increase safety with combinations of sensors such as vehicle-mounted radars and cameras will be high.

Increasing Preference Towards Autonomous Vehicles Driving Market Growth

Autonomous Vehicles mainly depend on advanced sensor technologies and sophisticated perception systems to navigate safely and effectively. This is key driving factor for the Automotive Perimeter Monitoring System Market growth and increasing security concerns among customers, as vehicle theft, is a big issue among the public, manufacturers have come up with new perimeter monitoring systems propelling the market. Vehicle safety technologies are increasingly being applied to prevent collisions and reduce the number of accidents. The adoption of advanced technologies in automation has resulted in boosting the growth of the market. These technologies help vehicles to navigate and park in various environments. Automotive Perimeter Monitoring Systems, especially those with 360-degree cameras, assist in maneuvering the vehicle into parking spots. They help to reduce the risks of accidents involving pedestrians and cyclists. Autonomous vehicles equipped with perimeter monitoring systems are more aware of vulnerable road users with the rise in shared mobility and increasing pedestrian and cyclists.

Advancements in sensor technologies to Drive Market Growth in the Future

The increasing advancements in sensor technologies such as LiDAR, radar, and cameras make automotive perimeter monitoring systems more reliable and accurate. These technologies include faster processing capabilities, enables real-time data analysis and decision-making. Real-time processing is important for instant alerts and quick responses in critical situations, which contributes to improving safety levels. Next-generation sensor technologies extend the range and coverage of automotive perimeter monitoring systems. Longer-range sensors help the system detect objects and hazards from a great distance, providing enough time for the vehicle control system to respond appropriately. Hence, these technological advancements are expected to drive the Global Automotive Perimeter Monitoring System Market growth during the forecast period.
Demand for Advanced Sensor Technologies by 2030


High Cost of the Automotive Perimeter Monitoring System to be the major Challenge for the Market

The cost of the system is one of the concerns and is analyzed in the report with future production and a decrease in the cost scenario. Perimeter monitoring systems include sophisticated technology such as sensors, cameras and processing units, which contributes to the higher production costs. Also, the adoption rate of advanced technology in developing and underdeveloped countries is low and is expected to be low in the forecast period. In addition, the installation of a perimeter monitoring system requires more space, which increases the overall cost of the vehicle is a major restrain of the growth of the automotive perimeter monitoring system.

Data Privacy and Security Concerns to Hamper the Automotive Perimeter Monitoring System Market Growth

Perimeter monitoring systems are integrated with various cameras, sensors and connectivity features, which makes them potential targets for cyberattacks. Stringent data protection regulations, such as the European Union's General Data Protection Regulation (GDPR) or similar laws in other regions, compel automotive manufacturers to adhere to strict data privacy standards. Meeting these regulatory requirements is challenging, especially for international companies that operate in different markets with various data protection laws.
Global Automotive Perimeter Monitoring System Market Regional Insights
Asia Pacific dominates the global Automotive Perimeter Monitoring System Market majorly due to increasing sales of personal and passenger vehicles. Besides, the high production of passenger vehicles in this region and rapid expansion of the automotive industry in countries including South Korea, China and India is expected to drive the global market during the forecast period. Increasing investment in R&D and by Western companies in autonomous vehicles in developing countries like India and China has fuelled the growth of the market.

The North American Automotive Perimeter Monitoring System Market is expected to grow rapidly during the forecast period. North America is a key region for the automotive industry with a strong presence of automotive manufacturers and companies specializing in Advanced Driver Assistance Systems (ADAs). The adoption of ADAs technologies including perimeter monitoring systems has grown rapidly in the region and is expected to continue growing in the future. Automotive manufacturers are largely integrating these features into their vehicles.

The Automotive Perimeter Monitoring System Market in Europe is expected to grow rapidly during the forecast period. The adoption of Advanced Driver Assistance Systems (ADAs) including perimeter monitoring systems is rising due to its major focus on vehicle safety and innovation. The region is mainly known for its strong automotive industry. Many European countries have implemented strict safety regulations for vehicles. The European New Car Assessment Programme (Euro NCAP) and other regulatory bodies are encouraging the adoption of safety technologies in vehicles. Several companies in the region are specializing in sensor technologies, which are contributing to the development of high-quality cameras and sensors used in perimeter monitoring systems.
Automotive Perimeter Monitoring System Market Segment Analysis
The Global Automotive Perimeter Monitoring System Market is segmented by System, Vehicle Type, Sales Channel, and region.

Based on System: With the rise in the adoption of intelligent control systems for reducing risk, demand for the access control system is increasing in emerging economies due to high-security systems and the same is expected to help the market to grow at a high CAGR during in forecast period. The rise in population and middle class in emerging countries like India and China, are expected to boost the demand for passenger vehicles, and these countries are expected to be key driving regions for the market in the long run. The Radar-Based System segment is expected to grow at a high rate during the forecast period. The demand for radar sensors is increasing because they offer high accuracy and reliability in detecting objects, irrespective of weather conditions such as fog, rain or snow.

Based on Sales Channel: The OEMs segment held the largest Market share in 2023. Many OEMs and TIER one supplies are investing in research and development and the same is covered in the report by companies. To meet the demand of customers for safety and convenience, many automotive manufacturers offer optional safety packages that include features such as perimeter monitoring systems.

Global Automotive Perimeter Monitoring System Market Competitive Landscape

The report includes a detailed analysis of the Global Automotive Perimeter Monitoring System Key competitors with their revenue, latest advancements, investments, product portfolio, mergers, acquisitions and joint ventures. Furukawa Electric Group’s Furukawa AS has succeeded in the development of a “24 GHz perimeter monitoring radar” with a top-level detection performance and stability performance. In 2017, it also started full-scale mass production of a perimeter monitoring radar in this band as a first for domestic production. Rather than just the conventional rear monitoring became possible in 2019 and the company evolved the radar into a next-generation device combining both performance improvements and smaller size.
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Global Automotive Perimeter Monitoring System Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 2.77 Bn.


Forecast Period 2024 to 2030 CAGR:
5.6%
Market Size in 2030:
US $ 4.06 Bn.


 Segments Covered:
by System
Access Control System
Radar-based System
Alarm & Notifications System
Others


by Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
Passenger Vehicle


by Sales Channel
OEMs
Aftermarket



Global Automotive Perimeter Monitoring System Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and the Rest of APAC)
South America (Brazil, Argentina Rest of South America)
Middle East & Africa (South Africa, GCC, Egypt, Nigeria and the Rest of ME&A)
Global Automotive Perimeter Monitoring System Key Players include:
1. Honeywell International
2. ELV Technologies
3. DENSO Corporation
4. Vehicle Monitoring Systems Pty Ltd.
5. Johnson controls international
6. Dahua Technology Co.
7. Robert Bosch GmbH
8. Axis Communications Ltd.
9. FURUKAWA ELECTRIC CO., LTD.
10. CIAS Electronics Ltd.
11. Continental AG
12. Bosch Security Systems
13. Senstar Corporation
14. Fiber SenSys, Inc.
15. KOITO MANUFACTURING CO., LTD.
16. Total Automation Group, Inc.
17. Magna International Inc.
18. RBtec Perimeter Security systems
19. PureTech Systems
Frequently Asked Questions
1] What was the Global Automotive Perimeter Monitoring System Market size in 2023?
Ans. USD 2.77 Bn was the Global Market size in 2023.

2] What is the expected Global Automotive Perimeter Monitoring System Market size by 2030?
Ans. USD 4.06 Bn is the expected Global Market size by 2030.

3] What is the expected CAGR of the Global Automotive Perimeter Monitoring System Market during the forecast period?
Ans. The Global Automotive Perimeter Monitoring System Market is expected to grow at a CAGR of 5.6 percent during the forecast period.

4] What are the major Global Automotive Perimeter Monitoring System Market segments?
Ans. The market is divided by System, Vehicle Type and Sales Channel.

5] Which region dominated the Global Automotive Perimeter Monitoring System Market in 2023?
Ans. The Asia Pacific Automotive Perimeter Monitoring System Market dominated the global market in 2023.