Automotive Back-up Camera Market: Market Outlook
An automotive back-up camera is a special kind of camera (video) which is produced precisely for the motive to be mounted to the rear side of a vehicle to support in backing up. These are specially designed to avoid back-up accident by a vehicle. These camera are commonly attached to the vehicle head unit display. The rear-view system increase the visibility for driver, and identifies additional information for combination with other parking systems and supports also trailer functions. A mountable camera concept offers from viewing only level up to active break and steering support different setups.
Earlier (in 1991), Toyota Soarer Ltd. was the first production automobile to in-corporate a back-up camera in the U.S. Since being launched in luxury cars, back-up visibility systems have initiated to enter into non-luxury light vehicle market as original equipment manufacturer. Additionally, after-market options have been available over the past ten years. The new regulations gave rise to an evolution that has taken back-up cameras from pricey luxury to industry standards.
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Automotive Back-up Camera Market: Dynamics
Increase in demand towards equipping commercial vehicles with back-up cameras is one of the key trends that will have an optimistic impact on the global automotive back-up camera market. Owing to rise in accidents involving commercial vehicles, especially in mining, construction and quarrying, CVs are now being equipped with back-up cameras. The growing number of fatalities in road, construction and mining sites have been leading to the increasing adoption of back-up cameras by the end users, thus driving the automotive back-up camera market growth.
The rise in number of road accidents resulting in serious injuries and fatalities has led many OEMs worldwide to provide back-up cameras in passenger cars as well. Adoption of automotive back-up camera will provide better rear-view visibility and improve safety standards of the vehicle. However, the product being priced at a premium rate with its existing customers based mainly in developed economy based regions has restrained the automotive back-up camera to an extent. Also, low levels of product awareness among customers in developing economy markets is another reason for the market restraint which however is expected to be offset by demand surge of automotive back up cameras in the upcoming years.
Automotive Back-up Camera Market: Regional Outlook
Region wise, North America will be a prominent region for automotive back-up camera market owing to maximum OEMs are installing back-up cameras in the United States more than doubled, increasing from 30% to 60% of all new cars sold. Moreover, National Highway Traffic Safety Administration has made rear view cameras mandatory on all cars by 2018. Also, Europe is also estimated to be a notable region for the demand for automotive Back-up camera market owing to the presence of most of the manufacturers. Most of the M&HCVs and light commercial vehicle (LCV) in Asia-Pacific are not equipped with a back-up camera that opens a wide opportunity for back-up camera vendors. MEA and Asia-Pacific is thus expected to be increasing at substantial CAGR over the forecast period.
Automotive Back-up Camera Market: Segmentation
Based on vehicle type, passenger vehicle is expected to carry the highest share within the market throughout the forecast period. Increasing in production of passenger vehicle around the globe and changing automation, which has already become regular in many vehicles, is anticipated to further reduce the number of fatalities and injuries caused by so-called back over crashes in passenger vehicle. Security advocates had at best mixed approaches over the mandate, disagreeing to the rule was years in the making of back-up camera and the auto industry employing the changes to be required to do more to protect drivers and their families member
On the basis of vehicle type, the Automotive Back-up Camera Market can be segmented into:
- Light Commercial Vehicle (LCV)
- Passenger car (PC)
- Heavy Commercial Vehicle (HCV)
- Construction Vehicle
On the basis of monitor, the Automotive Back-up Camera Market can be segmented into:
On the basis of position, the Automotive Back-up Camera Market can be segmented into:
- Surface Mounted Automotive Back-up Camera
- Flush Mounted Automotive Back-up Camera
- License Mounted Automotive Back-up Camera
On the basis of sales channel, the Automotive Back-up Camera Market can be segmented into:
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Automotive Back-up Camera Market: Market Participants
Some of the market participants/vendors identified in the Automotive Back-up Camera Market across the world are:
- Denso Corporation
- Magna International
- Valeo SA
- Robert Bosch
- Continental AG
- Delphi Automotive
- Garmin Ltd.