Automotive Backup Camera Market Statistics - 2026
The global automotive backup camera market was valued at $1,956.4 million in 2018, and is projected to reach $3,860.0 million by 2026, registering a CAGR of 8.7%. North America was the highest revenue contributor, accounting for $702.2 million in 2018, and is estimated to reach $1,018.6 million by 2026, with a CAGR of 4.6%. Asia-Pacific is estimated to reach $1.32 billion by 2026, at a significant CAGR of 12.6%. North America and Europe collectively accounted for around 65.3% share in 2018, with the former constituting around 35.9% share. Asia-Pacific and LAMEA are expected to witness considerable CAGRs of 12.6% and 11.1%, respectively, during the forecast period. The cumulative share of these two segments was 34.7% in 2018, and is anticipated to reach 44.7% by 2026.
Backup camera for an automobile is used to get a clear picture of the rear side of the vehicle to avoid collisions and accidents that take place due to no visibility while parking the vehicle. Backup camera help to determine the rear blind spot, thereby preventing occurrence of accidents. The area directly behind vehicles is known as a "killing zone" due to associated accidents and rear camera is used to avoid such kind of accidents. Backup cameras are usually attached to the head unit display of the vehicle and are designed in such a way that the image produced as output is horizontally flipped thereby producing the mirror image of the object. Various governments across the globe have set regulations for vehicles to be equipped with rear camera as a mandatory component to ensure safety while parking the vehicle, which supports the automotive backup camera market growth.
A good quality rear camera provides comfort to driver of the vehicle during the reversal of the vehicle. Also the application of rear camera in vehicle helps to determine the rear blind spot arising behind the vehicle, which sometimes leads to accidents. Backup cameras have a wider application in commercial vehicles such as trailer carriers and tow trucks.
Surface Mounted is projected as the most lucrative segments
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 the market. However, high installation cost of the rear camera is expected to hamper the automotive backup camera industry. Further, rise in trend of installing advanced driving system and legislations mandating installation of cameras in vehicles are expected to create numerous opportunities leading to the expansion of automotive backup camera market share.
By Vehicle Type
Commercial vehicle is projected as the most lucrative segments
The global automotive backup camera market is segmented into position, vehicle type, sales channel and region. The market includes surface mounted, flush mounted and license mounted as the positions for the camera. Based on vehicle type, the market is categorized into passenger vehicle and commercial vehicle. Original equipment manufacturers (OEMs) and aftermarket are the sales channel for market. The automotive backup camera market analysis is done across North America, Europe, Asia-Pacific and LAMEA.
By Sales Channel
Original Equipment Manufacturers (OEMs) is projected as the most lucrative segments
Key players includes Aptiv PLC, Continental AG, Delphi Technologies, Magna International, OmniVision Technologies, Pyle, Robert Bosch GmbH, Stonkam AG, Valeo, Yada, and others account for a major automotive backup camera market share.
Asia-Pacific would exhibit the highest CAGR of 12.6% during 2019-2026.
Rising number of fatalities leading to increased adoption of backup camera
According to World Health Organization, road traffic injuries are the leading cause of death among people aged between 15 and 29 years & 1.25 billion people die every year due to road accidents, which includes accidents caused during reversal of the vehicle. Also, 90% fatalities on the roads occur in low & middle economical countries, though such countries have approximately 54% of the world's vehicles. Moreover, for most of the countries road accidents cost 3% of their gross domestic product (GDP). Such factors result in increased demand for vehicles that are equipped with backup cameras for safety & security of the vehicle, driver, and passengers while reversing the vehicle. As the cameras are incorporated on the rear end of the vehicle, it can provide a clear view of the rear blind spot. Thus, it is expected to minimize the road accidents that occur due to blind spots. Furthermore, road accidents cause considerable economic losses to individuals, their families, and nations owing to the cost of treatment as well as loss of productivity by people killed or disabled by the injuries incurred during the mishaps. This in turn fuels the demand for the automotive backup camera market.
Rise in demand for passenger vehicles coupled with safety and security concerns among consumers
New passenger vehicle registrations increased in Europe, Russia, Japan, Brazil, India, and China though it sharply decreased in the U.S. In July 2017, the U.S. was the only major car market in the world that exhibited weaker growth with a 7% decline in the sales of new light vehicles. The Indian and Russian car markets expanded rapidly with double-digit growth, while the recovery in Brazil continued but at a more moderate pace. In addition, luxury vehicles are almost an obligatory status symbol for ultra-rich individuals, though luxury vehicles are more expensive than comparable vehicles. Hence, these factors are projected to boost the growth of the automotive backup camera market. Furthermore, the demand for advanced driver assistance systems in vehicles has increased at a significant pace over the recent years and is expected to maintain this trend during the forecast period. This is attributed to growth in safety concerns, as the number of road accidents is at a constant rise, especially in the developing countries.
High installation cost
The installation cost of the automotive backup cameras is high in the existing vehicles. In addition, latest technologies such as advanced driver assistance systems (ADAS) require cameras for numerous applications, such as rear blind spot detection and others, which are expensive. Hence, high cost involved in the installation of rear cameras is expected to hamper the growth of the automotive backup camera market.
Rise in trend of installing advanced driving system
Autonomous vehicles consist of systems and applications of advanced technological capabilities for cars, trucks, and buses. Systems such as advanced driving system, involve various features such as vehicle guidance during parking, rear blind spot detection, and others, which use cameras and sensors to avoid accidents, and artificial intelligence to analyze information in real-time. In addition, high-performance computing, and deep learning system for adapting to new circumstances with the help of 3D high definition maps. Moreover, the computers are incorporated with numerous sensors, lasers, and cameras to execute the decision regarding movement, speed, and direction of the vehicles, which are necessary to be determined during the reversing of the vehicle. These factors together are expected to create lucrative growth opportunities for the automotive backup camera market.
Key Benefits for Automotive Backup Camera Market:
- This study presents the analytical depiction of the global automotive backup camera market analysis along with the current trends and future estimations to depict imminent investment pockets.
- The overall automotive backup camera market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global automotive backup camera market with a detailed impact analysis.
- The current automotive backup camera market is quantitatively analyzed from 2018 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Automotive Backup Camera Market Report Highlights
By VEHICLE TYPE
By SALES CHANNEL
Key Market Players
STONKAM CO., LTD, DELPHI AUTOMOTIVE COMPANY, ROBERT BOSCH GmbH, MAGNA INTERNATIONAL INC, YADA (Subsidiary of Winplus North America Inc.), OmniVision Technologies, Inc, Aptiv PLC (Delphi Automotive PLC), CONTINENTAL AG., VALEO, Pyle Audio
In a vehicle, the rear cameras are installed to get a clear picture of the rear side of the vehicle to avoid collisions and accidents that take place due to no visibility while parking. Backup cameras are installed on the rear side of the vehicle to determine the rear blind spot, which might lead to accidents causing damage to the vehicle or to an individual. Developments and introduction of products have taken place in the field of rear camera, which supplements the growth of the automotive backup/rear camera market across the globe. Also, various governments across the globe have set regulations for vehicles to be equipped with rear camera as a mandatory component to ensure safety while parking the vehicle, which supports the growth of the market.
Factors such as increase 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 the market. However, high installation cost of the rear camera is anticipated to hamper the growth of the automotive backup/rear camera market. Further, rise in trend of installing advanced driving system and legislations mandating installation of cameras in vehicles is expected to create numerous opportunities for the growth of the market.
Among the analyzed regions, North America is the highest revenue contributor followed by Europe, Asia-Pacific, and LAMEA. Based on the forecast, Asia-Pacific is expected to maintain the lead during the forecast period owing to an increased CAGR as compared to other regions.