Portland, OR, April 01, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automotive backup camera market garnered $1.95 billion in 2018, and is expected to generate $3.86 billion by 2026, witnessing at a CAGR of 8.7% from 2019 to 2026. The report provides a comprehensive analysis of the changing market trends, key market players, major segments, market size & estimations, and competitive scenario.
Rise in number of fatalities leading to increased adoption of backup camera and mounting demand for passenger vehicles coupled with safety and security concerns among consumers propel the growth of the global automotive backup camera market. However, high installation cost restrains the market growth. On the other hand, increase in trend of installing advanced driving system, and legislations mandating installation of backup cameras in vehicles are expected to offer new opportunities in the coming years.
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The global automotive backup camera market is segmented into position, vehicle type, sales channel and region. Based on position, the market is divided into surface mounted, flush mounted and license mounted segments. The surface mounted segment accounted for the highest share in 2018, holding more than two-fifth of the global automotive backup camera market share. In addition the segment is estimated to maintain its lead status by registering the fastest CAGR of 9.8% from 2019 to 2026.
Based on vehicle type, the market is categorized into passenger vehicle and commercial vehicle. The commercial vehicle segment is expected to maintain the highest CAGR of 10.2% during the forecast period. However, the passenger vehicle segment held the highest share in 2018, contributing to around three fourths of the total market share.
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Based on region, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA. The region across North America, generated the highest market share in 2018, holding more than one-third of the market share. However, Asia-Pacific is expected to witness the largest CAGR of 12.6% from 2019 to 2026.
Leading market players analyzed in the automotive backup camera market research are Continental AG, Delphi Technologies, Magna International, OmniVision Technologies, Aptiv PLC, Pyle, Robert Bosch GmbH, Stonkam AG, Valeo, and Yada.
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About Allied Market Research:
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.
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.