Auto Backup Camera Module Market Report

Auto backup camera module is not only used in top-end autonomous vehicles but also semi-autonomous and premium non-autonomous cars. Increase in the use of auto backup camera module in a range of vehicles is expected to largely benefit manufacturers in terms of sales. Growing need to avoid motor vehicle collisions that result in fatalities and serious injuries to drivers, passengers, and even other people could improve the interest of automakers in auto backup camera module. Strict government regulations that mandate the installation of backup cameras in vehicles is anticipated to further add to the demand in the global auto backup camera module market.

Integration of Highly Advanced Features in Autonomous Cars Likely to Boost Demand

Rising need to ensure the safety of drivers, their vehicles, and the people and properties around while driving is expected to increase the demand for auto backup camera module. Vehicle drivers can reduce the chances of backup accidents on roads and in parking lots with the use of backup camera. The growing trend of autonomous cars could positively impact the global auto backup camera module market. Today’s auto backup cameras used in autonomous and some semi-autonomous vehicles are integrated with advanced technologies such as AI that can detect and differentiate objects from a far distance and alert the driver well in advance. According to market analysts, the global demand for auto backup camera module with modern features and technology could significantly increase in the coming years.

Manufacturers Expected to Focus on Innovation and Improvement in Product Functionality

Some of the key manufacturers of auto backup camera module are LG Innotek, STMicroelectronics, SEMCO, Tung Thih, Sharp, BYD, Sunny Optical, Powerlogics, Partron, Cammsys, ZF TRW, and MCNEX. Manufacturers of auto backup camera module could continue to innovate and launch new features for their products to attract the attention of consumers. They could also focus on research and development to make new and improved additions to their product portfolio.

However, unexpected faults in auto backup camera module resulting in product recall could hamper the sales growth of players. In October 2019, it was announced that German automobile company BMW issued a wide recall of over 250,000 vehicles because of a backup camera display problem.

By Product Type

●  CCD

●  CMOS

By Application

●   Sedan

●  SUV

●  Others

Charge-coupled device (CCD) type of products sold in the global auto backup camera module market could be a better option for use in low light conditions. Although CCD sensor consumes more power, it has the ability to produce higher quality images. CCD is considered to be a more mature product type offered in the global auto backup camera module market as it has been mass produced since a long period of time. Compared to complimentary metal-oxide-semiconductor (CMOS) sensor, CCD sensor could be offered at a higher price. Auto backup camera module finds application in SUV, sedan, and other vehicles.

By Region

Europe and North America are expected to create rewarding sales prospects for players operating in the auto backup camera module market. Introduction of highly advanced features and integrated systems in automobiles could increase the use of auto backup camera module in the developed regions. Launch of premium cars with technologically sophisticated safety and convenience features is anticipated to push forward the demand for auto backup camera module in these regions.

Asia Pacific could also show growth in the global auto backup camera module market on the back of increasing production of premium vehicles. Increased traffic congestion problem, high road accident rates, and increasing penetration of latest automotive technologies may increase the demand for auto backup camera module in the emerging region.

The automotive industry has undergone myriad changes over the past century. It has stirred a revolution, setting in motion trends that have completely transformed the transportation industry. Digitalization has drastically helped business models evolve by leaps and bounds. Major developments in the emerging economies have provided the automotive and transportation industry is a massive boost in recent years.

Increasing investments in automobile manufacturing, especially in the developing countries, strengthening trade and business opportunities, and growing e-commerce has all made its contribution towards shaping the automotive and transportation industry. Our reports take a detailed look at the various factors driving this industry and assess the lucrative opportunities for the players in the near future. The reports discuss the future of artificial intelligence, Internet of Things, vehicle-to-vehicle communication, and autonomous vehicles with utmost objectivity. The next-generation technological advancements and changing outlooks of the players have been studied with unbiased scrutiny for a clear picture of the trajectory of the industry.