Automotive Backup Camera Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Automotive Backup Camera Market was valued at ~US$ 4 billion in 2020 and is anticipated display a CAGR of around ~6.9% over the forecast period (2021-2027). Due to its accident-prevention feature, which has made it popular among automobiles, the current trend for backup camera installation in vehicles has increased. As a result, component makers have developed better and more advanced feature cameras for vehicles, resulting in an increase in the automotive backup camera market share. Backup cameras can provide a view of the vehicle’s blind spot on the back side, which has aided the growth of automotive backup cameras. They also provide a mirror image of the rear side object, which aids in the reduction of accidents when the vehicle is reversed. Additionally, government rules throughout the world have mandated the installation of backup cameras in vehicles, which has aided the rise of automobile backup cameras around the world.

Insights Presented in the Report

“Amongst Position, Surface Mounted segment dominated the market in 2020”

Based on position, the market is segmented into Surface Mounted, Flush Mounted and License Mounted. The surface Mounted segment dominated the market as they may be mounted on any flat surface and are frequently scaled to great heights. They’re usually found in bigger automobiles

“Amongst Vehicle, Passenger segment dominated the market in 2020.”

Based on vehicle, the market is segmented into passenger and commercial. Passenger cars account for a significant share of the market. Increased passenger car production around the world, as well as evolving technology that has already become standard in many vehicles, are projected to reduce the number of injuries and fatalities caused by so-called back over crashes in passenger vehicles

“Amongst Sales Channel, OEM segment dominated the market in 2020.”

Based on sales channel, the market is segmented in Original Equipment Manufacturer (OEM) and Aftersales. OEM owns the major share as the OEMs are moving towards adopting to provide better safety feature via backup camera in different variants. Demand for safety innovation in passenger cars is responsible for rear view camera market growth as increasing accidents due to human error in driving adds fuel to the growth

“North America represents as the largest market.”

For a better understanding of the market adoption of Automotive Backup Camera, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. North America holds the largest share in the market while Asia-Pacific is expected to grow at a higher rate during the forecasted period 2021-2027. One of the major factors of Asia-Pacific growth is the rising sales of vehicles in the region. Some of the major players operating in the market includes Continental AG, Robert Bosch GmbH, Aptiv PLC, Magna International, Valeo, Delphi Technologies, Pyle USA, Ficosa Internacional SA, Mcnex Co., Ltd and Autoliv Inc. etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Automotive Backup Camera Market were the three major steps undertaken to create and analyze the adoption of Automotive Backup Camera across various regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Automotive Backup Camera Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Automotive Backup Camera, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by position, by vehicle, and by sales channel. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Automotive Backup Camera Market in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing demand for safety features in vehicles for Automotive Backup Camera etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Backup Camera across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Automotive Backup Camera Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Automotive Backup Camera market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of position, vehicle, and sales channel type does major country/region globally.

 The main objective of the Automotive Backup Camera Market Study

The current & future market trends of Automotive Backup Camera were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Automotive Backup Camera in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include position, vehicle, and sales channel
• Defined analysis of the regulatory framework for the Global Automotive Backup Camera industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Automotive Backup Camera for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Automotive Backup Camera Market players and the growth strategies adopted by them to sustain in the fast-growing market
• Deep dive regional & country level analysis of the industry