Automotive Backup Camera Market Size, Share, Opportunities, And Trends By Type (Passenger, Commercial), By Position (Surface Mounted, Flush Mounted, License Mounted), By Sales Channel (OEM, Aftermarket), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615617
- Pages : 140
The Automotive Backup Camera Market was valued at US$1.512 billion in 2021 and is expected to grow at a CAGR of 10.86% during the forecast period.
A video camera fastened to the back of a car is referred to as an automotive backup camera, sometimes known as a rear-view camera. It is made primarily to avoid backup collisions and let the driver reverse the car safely. When the car is in reverse gear, it is linked to a display screen that automatically comes on and plays real-time footage of the area behind the vehicle. Automotive backup surveillance systems have been more popular recently since they improve vision and reduce mishaps and accidents by reducing the rear blind areas. Automotive backup camera systems with detectors in the rear bumper to find objects behind the vehicle are now available from manufacturers.
Increasing number of fatalities
According to the World Health Organisation, road traffic accidents, which include accidents caused by reversing a car, are the main cause of mortality for people between the ages of 15 and 29. Each year, 1.25 billion people die as a result of road accidents. Additionally, even though low- and middle-income countries have about 54% of the world's vehicles, 90% of road fatalities occur in these nations. Additionally, vehicle accidents cost the majority of the world's economies 3% of their GDP. Due to these issues, there is a greater need for cars with backup cameras for the sake of the driver, passengers, and vehicle safety and security when reversing.
Rising demand for passenger vehicles
While the recovery in Brazil proceeded, it did so at a more modest pace than in new passenger car markets, which experienced significant expansion and double-digit growth. In addition, even though they are more costly than comparable vehicles, luxury cars are practically a status symbol for the very wealthy. Therefore, it is anticipated that these factors will push the market for car backup cameras. In addition, demand for sophisticated safety features in cars has grown significantly in recent years and is anticipated to continue growing over the course of the projection period. This is due to growing safety concerns because of the rise in traffic accidents, particularly in emerging nations.
High installation cost
Automotive backup cameras are expensive to install in pre-existing vehicles. Additionally, newer technologies like advanced driving assistance systems (ADAS) call for pricey cameras for several uses including rear blind spot detection and others. Therefore, it is anticipated that the high cost of installing rear cameras will restrain the market's expansion for car backup cameras, which may impede the automotive backup camera market size.
Increase in the use of advanced driving systems
Systems and implementations of cutting-edge technology capabilities for cars, trucks, and buses make up autonomous vehicles. Systems like the advanced driving system include several functions including rear blind spot recognition, vehicle guiding while parking, and others that use cameras and sensors to prevent accidents and artificial intelligence to analyze data in real time. Additionally, deep learning systems and high-performance computation are used to adapt to changing conditions using 3D high-definition maps. To execute the choice regarding the movement, speed, and trajectory of the vehicles, which must be determined during the reversing of the vehicle, the computers are additionally integrated with several sensors, lasers, and cameras.
Rising government regulations
Government legislation from all over the world has mandated the installation of backup cameras in vehicles, which has aided in the expansion of automobile backup cameras globally. Tow trucks and huge trailers, which cover more area on the road when going and require assistance when parking and reversing the vehicle, have wider applicability for backup cameras. Additionally, backup cameras are far more effective and efficient since they prevent accidents brought on by rear blind zones that are invisible to the driver when the car is being reversed.
Rising demand in the automotive sector
The automotive industry is rapidly integrating optical parts for driverless vehicles and advanced driver assistance systems (ADAS). The use of optical isolators can be crucial in guaranteeing dependable interaction among various sensors and control systems, providing enormous market expansion potential. The market for optical isolators has attractive potential due to the rising infrastructure development spending, particularly in emerging economies. The need for optical isolators is being driven by the increasing usage of fibre optic networks and the expansion of telecommunications services in these areas which is increasing the automotive backup camera market share.
North America is projected to have the highest share of the automotive backup camera market
The North American region is anticipated to lead the automotive backup camera market during the projected period. The use of autonomous automobiles and other vehicles is increasing quickly across North America as the trend toward automation continues to make deeper inroads into the automotive sector. This is leading to a significant increase in the demand for assisting equipment like cameras and sensors. For instance, a study by the World Economic Forum estimates that by 2025, sales of self-driving cars will account for 5% of all vehicle sales. In addition, several automakers are placing a strong emphasis on the introduction of new autonomous vehicles to meet the rising demand. Autonomous vehicle sales are expected to grow quickly in North America, which will fuel demand for automotive backup cameras, which are essential in these modern cars.
Market Key Developments
- In October 2021, Continental created an integrated interior sensor technology solution that already satisfies future safety requirements and improves vehicle comfort. The technology company's cabin sensing solution combines years of experience with interior cams for interaction between humans and machines with in-depth knowledge of radar sensor technology. With the interior of the car being continuously monitored for objects.
- In September 2021, Robert Bosch (China) Investment Co., Ltd. created an automated valet parking system using Hycan automotive technology installed in the Hycan Z03 in September 2021. By accurately determining the route and avoiding obstructions, the automated parking valet feature enables the vehicle to autonomously drive to the parking as instructed and park at the designated position. Level 4 autonomous driving is the category in which this technology belongs.
- In April 2020, EchoMaster, a producer of video telematics and safety solutions located in the UK, announced the release of the PCAM-CT01, a cutting-edge universal backup camera with capabilities including moving object identification and a 140-degree field of vision. It is predicted that a large number of these new product launches will fuel market expansion in Western Europe
Automotive Backup Camera Market Scope:
|Market Size Value in 2021||US$1.512 billion|
|Growth Rate||CAGR of 10.86% from 2021 to 2028|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Type, Position, Sales Channel, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||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, ZF Friedrichshafen AG|
|Customization Scope||Free report customization with purchase|
- By Type
- By Position
- Surface Mounted
- Flush Mounted
- License Mounted
- By Sales Channel
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. AUTOMOTIVE BACKUP CAMERA MARKET, BY TYPE
6. AUTOMOTIVE BACKUP CAMERA MARKET, BY POSITION
6.2. Surface Mounted
6.3. Flush Mounted
6.4. License Mounted
7. AUTOMOTIVE BACKUP CAMERA MARKET, BY SALES CHANNEL
8. AUTOMOTIVE BACKUP CAMERA MARKET, BY GEOGRAPHY
8.2. North America
8.3. South America
8.4.3. United Kingdom
8.5. Middle East And Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Borgwarner Inc.
10.2. Continental Aktiengesellschaft
10.3. DENSO Corporation
10.4. Gentex Corporation
10.5. HELLA GmbH & Co. KGaA (Hella Stiftung GmbH)
10.6. Magna International Inc
10.7. Omnivision Technologies Inc.
10.8. Rear View Safety Inc. (Safe Fleet Holdings LLC)
10.9. Robert Bosch GmbH
10.10. Stonkam Co. Ltd.
10.12. ZF Friedrichshafen AG.
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.
ZF Friedrichshafen AG
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