Allied Market Research published a report, titled, “Automotive Backup Camera Market by Position (Surface Mounted, Flush Mounted and License Mounted), Vehicle Type (Passenger Vehicle and Commercial Vehicle) and Sales Channel (Original Equipment Manufacturers (OEMs) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2019–2026.” According to the report, the global automotive backup camera industry garnered $1.95 billion in 2018, and is estimated to reach $3.86 billion by 2026, witnessing a CAGR of 8.7% during the forecast period, 2019–2026.
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Increase in number of fatalities leading to rising adoption of backup cameras and surge in demand for passenger vehicles coupled with safety and security concerns among consumers drive the growth of the global automotive backup camera market. On the other hand, high installation cost of the system hampers the growth to some extent. However, increase in trend of installing advanced driving system and legislations mandating installation of backup cameras in vehicles are expected to create a number of lucrative opportunities for the key players in the industry.
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North America garnered the major share in 2018-
Based on geography, North America held the largest share in 2018, generating more than one-third of the global automotive backup camera market. The mandatory installment for rear camera/backup camera has accelerated the demand for the system in the region. The region across Asia-Pacific, on the other hand, would showcase the fastest CAGR of 12.6% throughout the forecast period. This is due to the presence of strict government regulations for the installation of backup camera in vehicles.
Leading players in the market-
- Continental AG
- Aptiv PLC
- Yada
- Stonkam AG
- Valeo
- Magna International
- Robert Bosch GmbH
- OmniVision Technologies
- Delphi Technologies
- Pyle
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