Automotive Back-up Camera Market

Automotive Back-up Camera Market Outlook

The sales in the global automotive back-up camera market are expected to create an incremental opportunity of more than US$ 2.6 Bn by 2022, expanding at a staggering CAGR of around 8% to 9% during the forecast period 2022-2032. The demand for automotive back-up cameras is estimated to surpass US$ 5 Bn by the end of 2032, in comparison to the US$ 2.3 Bn registered in the year 2021.

Automotive backup cameras, commonly referred to as rear-view cameras, are special type of video camera that can be deployed on the rear side of automobiles to assist in reverse driving and parking applications. These are specifically designed to avoid collision during backup and assist the driver to reverse drive the vehicle safely.

Which are Key Factors Favoring the Automotive Back-up Camera Market Growth?

Over the past couple of years, the automotive industry has witnessed a substantial transformation worldwide, on the back of advancements in technologies and rapid globalization. Furthermore, there is a swift rise in production and sales of automotive vehicles such as passenger cars, SUVs, luxury cars, and others across the globe, owing to the rising disposable income and increasing customer preference for traveling with comfort.

Automotive backup cameras are increasingly being deployed in modern cars, owing to the benefits such as increasing visibility while reverse driving, and preventing accidents & crashes by alleviating the rear blind spots. Hence growing production and sales of automotive vehicles are projected to create lucrative opportunities in the global automotive backup camera market.

What are the Constraints Dampening the Sales of Automotive Back-up Cameras in the Global Market?

Although there are numerous benefits associated with the deployment of automotive back-up cameras, extravagant costs of these cameras & monitors, and high installation and repair costs are impeding the sales in the global market.

Nikhil Kaitwade

Principal Consultant

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Why is Demand for Automotive Back-up Cameras Rising at a Robust Pace in North America Market?

Future Market Insights states that North America is estimated to exhibit robust growth in the global automotive back-up camera market between 2022 and 2032.

As the trend of automation continues to create deeper inroads across the automotive industry, there is a swift rise in the adoption of autonomous passenger cars and other vehicles across North America, creating strong demand for assistive devices such as cameras and sensors.

For instance, according to a study published by the World Economic Forum, the sales of self-driving vehicles are estimated to contribute 5% of the total vehicle sales by 2025. In addition to this, numerous automobile manufacturers are emphasizing on launches new autonomous vehicles to address the increasing demand. As automotive back-up cameras play a crucial role in these advanced automobiles, accelerating sales of autonomous vehicles is anticipated to propel the demand in the North America market.

What is the Sales Prospect of Automotive Back-up Cameras in the Western Europe Market?

As per FMI, Western Europe is anticipated to emerge as a highly remunerative market for automotive back-up cameras over the forecast period 2022-2032.

Demand for automotive back-up cameras is surging at a swift pace, owing to the implementation of stringent regulations mandating the installation of back-up cameras in novel passenger vehicles for increasing car safety. To capitalize on such existing opportunities, key players in the market are focusing on launching new products.

For instance, in 2020, EchoMaster, U.K.-based video telematics, and safety solutions manufacturer announced introducing a novel universal backup camera, PCAM-CT01, with moving object detection, 140-degree view angle, and other features. A multiplicity of such new product launches are estimated to drive the growth in the Western Europe market.

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Market Competition

Some of the leading players in the automotive back-up camera market are Robert Bosch, Continental AG, Denso Corporation, Garmin Ltd., Magna International, Delphi Automotive, Astral, Valeo SA, Fabtec, EchoMaster, and others.

Attributed to the presence of such high number of participants and growing emphasis on launching novel back-up camera with innovative features, the market is highly competitive.

Report Scope

Key Segments Profiled in the Automotive Back-Up Camera Market Survey

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 (OEM)
• After-Market

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa