The anticipated size of the Automotive Back-Up Camera Market in 2022 was USD 292.7 million and is estimated to be USD 302.9 million in 2023.
An increase in penetration of camera-based convenience features in luxury vehicles mainly influences the growth of the automotive back-up camera market. According to FMI analysis, the automotive backup camera market is projected to expand at a CAGR of 4.4% between 2023 and 2033, totaling around USD 465.8 million by 2033.
Automotive backup cameras, commonly referred to as rear-view cameras, are a 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 driving the vehicle safely.
| Attribute | Details |
|---|---|
| Projected Forecast Value (2022) | USD 292.7 million |
| Projected Forecast Value (2023) | USD 302.9 million |
| Projected Forecast Value (2033) | USD 465.8 million |
| Growth rate | 4.4% CAGR |
| Forecast period | 2023 to 2033 |
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The global automotive backup cameras market expanded at a CAGR of 2.8% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 4.4% between 2023 and 2033.
The surge in consumer demand for active safety systems is one of the key drivers thriving the growth of the automotive camera market, which in turn might raise the growth of the target market.
The application of strict government regulations concerning safety in vehicles as well as rising concerns regarding pedestrian and passenger safety might also help in boosting the growth of the automotive camera market from 2023 to 2033.
Swift Rise in Production and Sales of Automotive Vehicles
The automotive industry has witnessed a substantial transformation worldwide over the past couple of years due to advancements in technology 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.
Preventing Accidents and Crashes by Alleviating the Rear Blind Spots
Automotive backup cameras are increasingly being deployed in modern cars, owing to the benefits such as increasing visibility while reverse driving, and preventing accidents and 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.
Extravagant Costs of the Cameras and Monitors
Although there are numerous benefits associated with the deployment of automotive backup cameras, the extravagant costs of these cameras and monitors, and high installation and repair costs are impeding sales in the global market.
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Future Market Insights states that North America is anticipated to exhibit significant growth in the global automotive back-up camera market with a market share of 33%. The United States is forecasted to capture a market share of 28.9% between 2023 and 2033.
As the trend of automation continues to create deep 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,
In addition to this, numerous automobile manufacturers are emphasizing the launch of new autonomous vehicles to address the increasing demand. As automotive backup cameras play a crucial role in these advanced automobiles, accelerating sales of autonomous vehicles.
As per FMI, Europe is anticipated to emerge as a highly remunerative market for automotive backup cameras over the forecast period from 2023 to 2033 with a market share of 29.2%.
Demand for automotive backup cameras is surging at a swift pace in the United Kingdom forecasted at 6.12% CAGR, owing to the implementation of stringent regulations mandating the installation of backup 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.
The passenger vehicle segment mainly accounts for 63.2% of the global automotive back-up camera market in 2023 and is anticipated to rule during the estimated period.
The installation of backup cameras in passenger automobiles helps in the identification of the rear blind spots of the vehicle, which ensures safety while reversing. This factor has stimulated the growth of the segment.
The surface mounted segment contributes to 52.3% of the global automotive back-up camera market and is anticipated in retaining its dominance from 2023 to 2033.
The existence of vehicles for ensuring safety has boosted the growth of the segment-leading to the increase in the trend toward the aftermarket installation of backup cameras.
Some of the leading players in the automotive backup 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 a high number of participants and growing emphasis on launching novel backup cameras with innovative features, the market is highly competitive.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.4% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Monitor, Position, Vehicle Type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East and Africa |
| Countries Covered | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Western Europe, Poland, Russia, Czech Republic, Romania, Rest of Eastern Europe, India, Bangladesh, Australia, New Zealand, Rest of South Asia and the Pacific, China, Japan, South Korea, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Robert Bosch; Continental AG; Denso Corporation; Garmin Ltd.; Magna International; Delphi Automotive; Astral; Valeo SA; Fabtec; EchoMaster |
| Customization | Available Upon Request |
The global automotive back-up camera market is valued at USD 302.9 million in 2023.
Robert Bosch, and Denso Corporation, are the leading Automotive Back-up Camera industry players.
The Surface mounted segment is the key segment by position in the market.
From 2018 to 2022, the Automotive Back-up Camera market surged at a 2.8% CAGR.
North America is expected to dominate the industry during the forecast period.
| Estimated Industry Size (2024E) | USD 5,109.3 million |
|---|---|
| Projected Industry Value (2034F) | USD 9,416 million |
| Value-based CAGR (2024 to 2034) | 6.3% |
| Market Estimated Size (2023) | USD 6,211.0 million |
|---|---|
| Market Forecasted Size (2033) | USD 29,601.1 million |
| Market CAGR (2023 to 2033) | 16.9% |
| Base Year Market Value (2023) | USD 93.9 billion |
|---|---|
| Projected Year Market Value (2033) | USD 414.5 billion |
| CAGR (2023 to 2033) | 16% |
| Market Size (2022) | USD 151.7 Million |
|---|---|
| Market Size (2032) | USD 604.8 Million |
| Value CAGR (2022 to 2032) | 14.80% |
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