By 2022, the sales of automotive back-up camera are predicted to provide an additional market potential of more than US$ 2.6 billion, growing at a startling CAGR of between 8 and 9 percent from 2022 to 2032. Compared to the US$ 2.3 Bn recorded in 2021, the market for vehicle backup cameras is predicted to surpass US$ 5 Bn by the end of 2032.
An automotive back-up camera is a special kind of camera (video) which is produced precisely for the motive to be mounted to the rear side of a vehicle to support in backing up. These are specially designed to avoid back-up accident by a vehicle. These cameras are commonly attached to the vehicle head unit display.
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The rear-view system increases the visibility for driver, and identifies additional information for combination with other parking systems and supports also trailer functions. A mountable camera concept offers from viewing only level up to active break and steering support different setups.
Earlier (in 1991), Toyota Soarer Ltd. was the first production automobile to in-corporate a back-up camera in the U.S. Since being launched in luxury cars, back-up visibility systems have initiated to enter into non-luxury light vehicle market as original equipment manufacturer. Additionally, after-market options have been available over the past ten years. The new regulations gave rise to an evolution that has taken back-up cameras from pricey luxury to industry standards.
Automotive Back-up Camera Market: Regional Outlook
Region wise, North America will be a prominent region for automotive back-up camera market owing to maximum OEMs are installing back-up cameras in the United States more than doubled, increasing from 30% to 60% of all new cars sold. Moreover, National Highway Traffic Safety Administration has made rear view cameras mandatory on all cars by 2018.
Also, Europe is also estimated to be a notable region for the demand for automotive Back-up camera market owing to the presence of most of the manufacturers. Most of the M&HCVs and light commercial vehicle (LCV) in Asia-Pacific are not equipped with a back-up camera that opens a wide opportunity for back-up camera vendors. MEA and Asia-Pacific is thus expected to be increasing at substantial CAGR over the forecast period.
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Automotive Back-up Camera Market: Market Participants
Some of the market participants/vendors identified in the Automotive Back-up Camera Market across the world are:
- Denso Corporation
- Magna International
- Valeo SA
- Robert Bosch
- Continental AG
- Delphi Automotive
- Astral
- Fabtec
- Garmin Ltd.
Automotive Back-up Camera Market: Segmentation
On the basis of vehicle type
- Light Commercial Vehicle (LCV)
- Passenger car (PC)
- Heavy Commercial Vehicle (HCV)
- Construction Vehicle
On the basis of monitor
- LCD
- LED
- TFT-LCD
On the basis of position
- Surface Mounted Automotive Back-up Camera
- Flush Mounted Automotive Back-up Camera
- License Mounted Automotive Back-up Camera
On the basis of sales channel
- After-Market
- OEM
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance