Automotive Back-up Camera Market to Hit USD 465.8 Million by 2033, Growing at 4.4% CAGR

The global automotive back-up camera market in 2022 was USD 292.7 million and is estimated to be USD 302.9 million in 2023. According to Future Market Insights anticipation, the automotive back-up camera market is predicted to expand at a CAGR of 4.4% between 2023 and 2033, totaling around USD 465.8 Million by 2033.

The rise in the number of fatalities that leads to a rise in the adoption of backup cameras and a surge in demand for passenger vehicles coupled with safety and security concerns among consumers drives the growth of the global automotive back-up camera market.

The high cost of installation hampers the growth of the market. Boost in the trend for the installation of advanced driving systems and legislation mandating the installation of backup cameras in vehicles are anticipated in creating a number of key opportunities for the key players in the industry.

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Key Takeaways from the Automotive Back-up Camera Market Report:
The global automotive back-up camera market expanded at a CAGR of 2.8% between 2018 and 2022. North America is projected to exhibit significant growth with a market share of 33%. The United States is forecasted to capture a market share of 28.9% between 2023 and 2033. Europe is anticipated to emerge as a highly remunerative market for automotive backup cameras with a market share of 29.2%. Based on vehicle type, the passenger vehicle segment mainly accounts for 63.2% of the global automotive back-up camera market. Under position segment, surface mounted segment contributes to 52.3% of the global automotive back-up camera market.

Leading Key Players:
Robert Bosch, Continental AG, Denso Corporation, Garmin Ltd., Magna International, Delphi Automotive, Astral, Valeo SA, Fabtec, EchoMaster