In 2022, the global automotive back-up camera market was valued at USD 292.7 million and is projected to reach USD 302.9 million in 2023. According to Future Market Insights, the market is expected to grow at a CAGR of 4.4% from 2023 to 2033, potentially reaching approximately USD 465.8 million by 2033.
The increase in fatalities has led to greater adoption of back-up cameras, along with rising demand for passenger vehicles and heightened safety and security concerns among consumers, all contributing to the growth of the global automotive back-up camera market.
However, the high installation costs pose a challenge to market expansion. Conversely, the growing trend of integrating advanced driving systems and legislation mandating the installation of back-up cameras in vehicles present significant opportunities for key industry players.
Comprehensive Market Insights: Full Report Overview
Key Takeaways from the Market Study
- The global automotive back-up camera market grew at a CAGR of 2.8% from 2018 to 2022.
- North America is expected to see considerable growth, capturing a market share of 33%.
- The United States is forecasted to hold a market share of 28.9% from 2023 to 2033.
- Europe is anticipated to be a lucrative market for automotive back-up cameras, with a market share of 29.2%.
- In terms of vehicle type, the passenger vehicle segment accounts for 63.2% of the global automotive back-up camera market.
- Within the positioning segment, surface-mounted cameras contribute 52.3% to 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”, – comments a Future Market Insights analyst.
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.
Top Key Players
- Robert Bosch
- Continental AG
- Denso Corporation
- Garmin Ltd.
- Magna International
- Delphi Automotive
- Astral
- Valeo SA
- Fabtec
- EchoMaster
Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global automotive back-up camera market providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the automotive back-up camera market is segmented based on major By Monitor: (LCD, LED, TFT- LCD), By Position: (Surface Mounted Automotive Back-up Camera, Flush Mounted Automotive Back-up Camera, License Mounted Automotive Back-up Camera), By Vehicle Type: (Light Commercial Vehicle (LCV), Passenger car (PC), Heavy Commercial Vehicle (HCV), Construction Vehicle), By Sales Channel: (Original Equipment Manufacturer, After Market) and Region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa)
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