NEW YORK, May 20, 2021 /PRNewswire/ —
Set to grow by 40,431.61 thousand units during 2021-2025, Technavio’s latest market research report estimates the automotive backup camera market to register a CAGR of about 12%. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aptiv Plc, BorgWarner Inc., Continental AG, DENSO Corp., Gentex Corp., HELLA GmbH & Co. KGaA, Magna International Inc., Robert Bosch GmbH, Valeo SA, and ZF Friedrichshafen AG are some of the major market participants. The rising number of government regulations regarding vehicle safety will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.