Global Automotive Backup/Reverse Camera Market Analysis (2024-2032) by Vehicle Type, Position, Sales Channel, and Region Featuring Profiles of Borgwarner, Continental, DENSO, Gentex, HELLA
Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Backup/Reverse Camera Market Report by Vehicle Type, Position, Sales Channel, and Region 2024-2032" report has been added to * ResearchAndMarkets.com's* offering.
The automotive industry is set to witness a major upswing in the adoption of safety features with the global automotive backup camera market size having reached US$ 2.8 billion in 2023. The market shows no signs of slowing down, with projections indicating a robust growth trajectory and an expected reach of US$ 5.2 billion by 2032, at a CAGR of 7.12% during the forecast period from 2023 to 2032. Automotive backup cameras, known for aiding in the prevention of backup collisions, are becoming an integral component in new vehicle safety systems worldwide.
Globally, there is a heightened sense of urgency to enhance road safety and reduce the number of accidents during vehicle reversing maneuvers. This concern is driving governmental regulatory bodies to mandate the inclusion of automotive backup cameras in new passenger vehicles. Additionally, the rising inclination towards advanced driver assistance systems (ADAS) is contributing to the expansion of the market. The integration of automotive backup cameras with rear sensors is becoming increasingly common in commercial vehicles, such as tow trucks and trailers, which necessitates additional assistance while reversing. This trend forms a notable part of the market's expansion. Furthermore, consistent technological advancements, alongside the growing sales of high-end automobiles and an increase in disposable incomes, are spurring market growth.
*Market Segmentation Analysis*
The global automotive backup camera market is assorted into different segments based on vehicle type, with passenger and commercial vehicles being the primary categories. Further division based on camera position highlights surface mounted, flush mounted, and license mounted as chief varieties. Delineation by sales channels underscores Original Equipment Manufacturers (OEMs) and aftermarket. The comprehensive analysis presents insights across various regions including North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
*Competitive Landscape*
In light of the market's competitive atmosphere, there are several key industry players who are focusing on the innovation and development of new product offerings to solidify their market positions. The field features significant companies that are contributing to the market's evolution through strategic initiatives and investments that underscore the overarching trend of integration of backup cameras as a safety standard in vehicles. The continuous emphasis on R&D and the implementation of strategic industry-wide safety regulations are forecast to continue driving the global automotive backup camera market towards a more secure, technologically advanced future.
*Companies Featured*
· Borgwarner Inc.
· Continental Aktiengesellschaft
· DENSO Corporation
· Gentex Corporation
· HELLA GmbH & Co. KGaA (Hella Stiftung GmbH)
· Magna International Inc
· Omnivision Technologies Inc.
· Rear View Safety Inc. (Safe Fleet Holdings LLC)
· Robert Bosch GmbH
· Stonkam Co. Ltd.
· Valeo
· ZF Friedrichshafen AG
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 135
Forecast Period 2023-2032
Estimated Market Value (USD) in 2023 $2.8 Billion
Forecasted Market Value (USD) by 2032 $5.2 Billion
Compound Annual Growth Rate 7.1%
Regions Covered Global
For more information about this report visit https://www.researchandmarkets.com/r/3pgsh3
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Global Automotive Backup Camera Market
CONTACT:
CONTACT: ResearchAndMarkets.com
Laura Wood,Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900