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.
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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.
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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.
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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.
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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.
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