Automotive Backup Camera Market - Detailed Analysis of Current and Future Industry Figures till 2026

Backup cameras installed in the vehicles are used to assist the driver during the reversal of the vehicle. They prevent collision that can occur due to no visibility of the rear side of the vehicle. Also, they are used to determine the blind spots that arise during the reversal of the vehicle. Backup cameras have a wider application in vehicles to prevent accidents occurring at the killing zone of the vehicle. As the backup cameras are attached to the head unit display of the vehicle, they give a horizontally flipped image of the rear object. Government regulations for the mandatory installation of backup camera in vehicles has supplemented the growth of the automotive backup camera market across the globe.

According to a recent report published by Allied Market Research, titled, "Automotive Backup Camera Market by Position, Vehicle Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global automotive backup camera market size 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% from 2019 to 2026.

Request Sample Report at https://www.alliedmarketresearch.com/request-sample/6266

Drivers, restraints, and opportunities-

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.

The surface mounted segment to lead the trail till 2026-

Based on position, the surface mounted segment contributed to nearly half of the global automotive backup camera market in 2018, and is expected to retain its dominance throughout 2019-2026. The same segment is also projected to register the fastest CAGR of 9.8% by the end of 2026. Increasing trend toward the aftermarket installation of backup cameras in existing vehicles to ensure safety has boosted the growth of the segment.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6266

Leading players in the market-

Continental AG
Aptiv PLC
Yada
Stonkam AG
Valeo
Magna International
Robert Bosch GmbH
OmniVision Technologies
Delphi Technologies
Pyle

Procure the research report at: https://www.alliedmarketresearch.com/automotive-backup-camera-market/purchase-options

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.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.