The global automotive back-up camera market 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 rise in the number of fatalities that leads to a rise in the adoption of backup cameras and a surge in demand for passenger vehicles coupled with safety and security concerns among consumers drives the growth of the global automotive back-up camera market.
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The high cost of installation hampers the growth of the market. Boost in the trend for the installation of advanced driving systems and legislation mandating the installation of backup cameras in vehicles are anticipated in creating a number of key opportunities for the key players in the industry.
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
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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.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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