The latest research study “Automotive Backup Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global automotive backup camera market reached a value of US$ 2.33 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 3.79 Million by 2027, exhibiting a CAGR of 8.30% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
An automotive backup camera, also called a rear-view camera, represents the video camera specifically designed for preventing a backup collision and helping the driver in reversing the vehicle safely. It is generally connected to a display screen that turns on automatically when the car is shifted into the reverse gear and exhibits real-time video of the area behind the vehicle. The automotive backup camera provides better visibility and avoids accidents by alleviating the rear blind spots. As a result, it is gaining extensive traction across countries.
Global Automotive Backup Camera Market Trends and Drivers:
The growing number of fatalities occurring during the reversing of vehicles and the increasing consumer concerns towards the safety of passengers and pedestrians are among the primary factors driving the automotive backup camera market. Additionally, the inflating demand for advanced driver assistance systems (ADAS) is further catalyzing the market growth. Besides this, the rising adoption of automotive backup camera systems in commercial vehicles, such as trailers and tow trucks, which cover a larger area on the road and require assistance while reversing or parking, is acting as another significant growth-inducing factor. Moreover, the implementation of several stringent regulations by government bodies that mandate the installation of rear-view cameras to minimize the risk of crashes is also positively influencing the global market. Apart from this, the elevating investments in the development of advanced product variants to detect objects behind the vehicles are anticipated to fuel the automotive backup camera market over the forecasted period.
Download free sample brochure: https://www.imarcgroup.com/automotive-backup-camera-market/requestsample
|Automotive Backup Camera Market Report Scope|
|Market size value in 2021||US$ 2.33 Billion|
|Market forecast in 2027||US$ 3.79 Billion|
|Growth Rate||CAGR of 8.30% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Vehicle Type, Position, Sales Channel and Region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Key companies profiled||Borgwarner Inc., Continental Aktiengesellschaft, DENSO Corporation, Gentex Corporation, HELLA GmbH & Co. KGaA (Hella Stiftung GmbH), Magna International Inc, Omnivision Technologies Inc., Rear View Safety Inc. (Safe Fleet Holdings LLC), Robert Bosch GmbH, Stonkam Co. Ltd., Valeo and ZF Friedrichshafen AG.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Vehicle Type:
- Passenger Vehicle
- Commercial Vehicle
Breakup by Position:
- Surface Mounted
- Flush Mounted
- License Mounted
Breakup by Sales Channel:
- Original Equipment Manufacturers (OEMs)
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
List of Major Key Players:
The major players in the market are Borgwarner Inc., Continental Aktiengesellschaft, DENSO Corporation, Gentex Corporation, HELLA GmbH & Co. KGaA (Hella Stiftung GmbH), Magna International Inc, Omnivision Technologies Inc., Rear View Safety Inc. (Safe Fleet Holdings LLC), Robert Bosch GmbH, Stonkam Co. Ltd., Valeo and ZF Friedrichshafen AG.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800