Automotive Backup Camera Market Trend, Growth, Size to Reach $3.86 Billion by 2026 at 8.7% CAGR | Allied Market Research

OREGAON, PORTLAND, UNITED STATES , May 21, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Automotive Backup Camera Market by Position (Surface Mounted, Flush Mounted and License Mounted), Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global automotive backup camera industry garnered $1.95 billion in 2018, and is estimated to reach $3.86 billion by 2026, witnessing a CAGR of 8.7% during the forecast period, 2019–2026.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/6266

Backup cameras installed in the vehicles are used to assist the driver during the reversal of the vehicle. They prevent collision that can occur due to no visibility of the rear side of the vehicle. Also, they are used to determine the blind spots that arise during the reversal of the vehicle. Backup cameras have a wider application in vehicles to prevent accidents occurring at the killing zone of the vehicle. As the backup cameras are attached to the head unit display of the vehicle, they give a horizontally flipped image of the rear object. Government regulations for the mandatory installation of backup camera in vehicles has supplemented the growth of the automotive backup camera market across the globe.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐠𝐚𝐫𝐧𝐞𝐫𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐣𝐨𝐫 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟏𝟖-

Based on geography, North America held the largest share in 2018, generating more than one-third of the global automotive backup camera market. The mandatory installment for rear camera/backup camera has accelerated the demand for the system in the region. The region across Asia-Pacific, on the other hand, would showcase the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟐.𝟔% throughout the forecast period. This is due to the presence of strict government regulations for the installation of backup camera in vehicles.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭-

Continental AG
Aptiv PLC
Yada
Stonkam AG
Valeo
Magna International
Robert Bosch GmbH
OmniVision Technologies
Delphi Technologies
Pyle

𝐃𝐫𝐢𝐯𝐞𝐫𝐬, 𝐫𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬, 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬-

Increase in number of fatalities leading to rising adoption of backup cameras and surge in demand for passenger vehicles coupled with safety and security concerns among consumers drive the growth of the global automotive backup camera market. On the other hand, high installation cost of the system hampers the growth to some extent. However, increase in trend of installing advanced driving system and legislations mandating installation of backup cameras in vehicles are expected to create a number of lucrative opportunities for the key players in the industry.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-backup-camera-market/purchase-options

𝐓𝐡𝐞 𝐬𝐮𝐫𝐟𝐚𝐜𝐞 𝐦𝐨𝐮𝐧𝐭𝐞𝐝 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐥𝐞𝐚𝐝 𝐭𝐡𝐞 𝐭𝐫𝐚𝐢𝐥 𝐭𝐢𝐥𝐥 𝟐𝟎𝟐𝟔-

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧, the surface mounted segment contributed to nearly half of the global automotive backup camera market in 2018, and is expected to retain its dominance throughout 2019–2026. The same segment is also projected to register the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟗.𝟖% by the end of 2026. Increasing trend toward the aftermarket installation of backup cameras in existing vehicles to ensure safety has boosted the growth of the segment.

𝐓𝐡𝐞 𝐩𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐩𝐞𝐫𝐢𝐨𝐝-

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the passenger vehicle segment accounted for three-fourths of the global automotive backup camera market in 2018, and is anticipated to rule the roost during the estimated period. Installation of backup camera in passenger automobiles helps identify the rear blind spots of the vehicle, thereby ensuring safety of the same while reversing, and this factor has stimulated the growth of the segment. Simultaneously, the commercial vehicle segment would cite the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟎.𝟐% by 2026. This is because commercial vehicles tend to find major application of backup cameras in them.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/6266

Factors such as surge in number of fatalities leading to increased adoption of backup camera and rise in demand for passenger vehicles coupled with safety and security concerns among consumers are driving the growth of automotive backup camera industry. However, high installation cost of the rear camera is expected to hamper the growth of the automotive backup camera market share. Further, rise in trend of installing advanced driving system and legislations mandating installation of cameras in vehicles are expected to create numerous opportunities for the expansion of the automotive backup camera market.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

https://www.alliedmarketresearch.com/luxury-vehicles-market - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/vehicle-tracking-system-market - Global Opportunity Analysis and Industry Forecast, 2021-2030

https://www.alliedmarketresearch.com/in-car-infotainment-market - Global Opportunity Analysis and Industry Forecast, 2021-2028

https://www.alliedmarketresearch.com/automotive-3d-imaging-market - Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/automotive-camera-and-camera-module-market - Global Opportunity Analysis and Industry Forecast, 2021-2028

https://www.alliedmarketresearch.com/automotive-camera-market - Global Opportunity Analysis and Industry Forecast, 2018-2025

David Correa
Allied Market Research
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