Global Automotive Backup Camera Market 2018-2022
About Automotive Backup Camera
An automotive backup camera, also known as reversing camera or rear-view camera, is attached to the rear end of the vehicle to alleviate the rear blind spot and aid in reversing the vehicle.
Technavio’s analysts forecast the global automotive backup camera market to grow at a CAGR of 13.03% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive backup camera market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Backup Camera Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive backup camera market: Bosch, Continental, Delphi*, DENSO, Magna International, and Valeo.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increased usage of wide-angle camera technology. Road accidents and traffic have increased immensely in past few years owing to the increase in the number of passenger cars, trucks, and buses, across all regions. The safety of both the passengers and vehicles is an ever-growing concern among the governments and automobile manufacturers. This, in turn, has led to the introduction of several safety measures and organizations to ensure the safety and security of the passengers and pedestrians.”
According to the report, one driver in the market is rising number of fatalities leading to increased adoption of backup camera. The growing number of road accidents causing severe injuries and fatalities have been a major reason for the adoption of the automotive backup camera. The yearly total social cost for all road fatalities is estimated to be in billions in Europe. To reduce the fatalities, European legislations promote or encourage the inclusion of more safety systems in vehicles.
Further, the report states that one challenge in the market is high price of backup camera. Backup camera is a safety feature that provides the drivers with more precise and safer driving experience while reversing the vehicle. Earlier, it was mostly offered as an optional feature in the premium and luxury brands; however, now it is increasingly being equipped in vehicle makes and models due to regulatory push and convenience.
Bosch, Continental, Delphi*, DENSO, Magna International, and Valeo.
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