The global automotive back-up camera market share in 2022 was US$ 292.7 million and is estimated to be US$ 302.9 million in 2023. According to Future Market Insights anticipation, the automotive back-up camera market is predicted to expand at a CAGR of 4.4% between 2023 and 2033, totaling around US$ 465.8 million by 2033.
The Automotive Back-up Camera Market is experiencing rapid growth driven by increasing safety regulations, consumer demand for advanced driver assistance systems (ADAS), and technological advancements in camera technology. Back-up cameras, also known as rear-view cameras or reverse cameras, provide drivers with a clear view of the area behind their vehicle, helping to prevent accidents, particularly in situations such as reversing and parking.
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Government regulations mandating the installation of back-up cameras in new vehicles to improve safety, coupled with rising consumer awareness of the benefits of ADAS features, are key drivers of market growth. Additionally, advancements in camera resolution, image processing, and integration with vehicle infotainment systems are enhancing the functionality and performance of back-up camera systems, further fueling market expansion.
Moreover, the increasing adoption of connected and autonomous vehicles is expected to drive further innovation in back-up camera technology, with features such as 360-degree surround-view cameras and augmented reality overlays becoming more prevalent. As automotive manufacturers continue to prioritize safety and enhance the driving experience, the Automotive Back-up Camera Market is projected to witness sustained growth, with opportunities for manufacturers to develop innovative solutions that meet the evolving needs of vehicle owners and regulatory requirements.
Key Takeaways from the Market Study
- The global automotive back-up camera market expanded at a CAGR of 2.8% between 2018 and 2022.
- North America is projected to exhibit significant growth with a market share of 33%.
- The United States is forecasted to capture a market share of 28.9% between 2023 and 2033.
- Europe is anticipated to emerge as a highly remunerative market for automotive backup cameras with a market share of 29.2%.
- Based on vehicle type, the passenger vehicle segment mainly accounts for 63.2% of the global automotive back-up camera market.
- Under position segment, surface mounted segment contributes to 52.3% of the global automotive back-up camera market.
“Swift rise in production and sales of automotive vehicles is considered as one of the key growth factors of the automotive back-up camera market”, – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)
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Important Developments
- In November 2022, Continental AG expanded its global activities in software development for the automotive industry. It is one of the leading providers in the field of automated and connected mobility, opening a development center for software and systems in Chongqing, southwest China. It is not going to increase Continental’s local capacity for software development in China, but it might also allow the DAX-listed company to strengthen its know-how and expertise in the field of software and system development for modern vehicle concepts.
- In March 2023, HANOVER – Automotive supplier Continental presented its final business figures for the past year and might provide an outlook for the rest of 2023. According to preliminary data, the Hanover-based DAX-listed corporation could generate more sales but remained under pressure financially due to high additional costs for energy, transport and materials.
Key Companies Profiled
- Robert Bosch
- Continental AG
- Denso Corporation
- Garmin Ltd.
- Magna International
- Delphi Automotive
- Astral
- Valeo SA
- Fabtec
- EchoMaster
Key Segments Profiled in the Automotive Back-up Camera Market Survey
By Monitor:
- LCD
- LED
- TFT- LCD
By Position:
- Surface Mounted
- Flush Mounted
- License Mounted
By Vehicle Type:
- Light Commercial Vehicle (LCV)
- Passenger car (PC)
- Heavy Commercial Vehicle (HCV)
- Construction Vehicle
By Sales Channel:
- Original Equipment Manufacturer (OEM)
- After-Market
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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