The automotive camera market in Europe is expected to grow from US$ 2,414.23 million in 2022 to US$ 8,439.24 million by 2028; it is estimated to grow at a CAGR of 23.2% from 2022 to 2028.
The Europe automotive camera market growth is attributable to the rising adoption of advanced cameras in vehicles. The automotive cameras assist the driver in parking, maneuvering, and assessing the vehicle's performance. The camera systems have played a crucial role in a few recent applications, including Lane Departure Warning Systems (LWDS), Forward Collision Warning System (FCWS), and Blind Spot Warning (BSW). In light and heavy commercial vehicles, the adoption of automotive cameras is growing in various system solutions, such as rear view camera, surround view camera, e-mirror, and driver monitoring systems (DMS). The cameras can be embedded with advanced computer vision algorithms for real machine vision systems for the advanced driver assistance systems (ADAS). Thus, the increase in applications of cameras in automotive vehicles and the rise in technological advancements fuel the adoption of advanced cameras in cars.
The leading players providing automotive cameras are significantly adopting advanced technologies. For instance, in May 2021, StradVision, a leading company in AI-based vision processing technology for autonomous vehicles and automotive ADAS, introduced the latest features of camera perception software named “SVNet”. It is a deep learning-based perception software that supports ADAS features, including highway driving assist and automated valet parking. In addition, the rear view camera provided by STMicroelectronics for automotive vehicles caters to various applications, such as state-of-the-art HDR image sensors VG6640 and a versatile image signal processor (ISP) that offers excellent flicker-free image quality at HD resolution. It also provides its product offerings for Driver Monitoring System (DMS) applications, through its HDR Europe Shutter sensor (1.6 Mpixel and 2.3 Mpixel), along with a multichannel voltage regulator and automotive-led drivers, MEMS sensors, ensuring greater flexibility for high-end computer vision applications in critical weather conditions and environments. Thus, the rising adoption of advanced cameras bolsters the automotive camera market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automotive camera market at a substantial CAGR during the forecast period.
Europe Automotive Camera Market Revenue and Forecast to 2028 (US$ Million)
Europe Automotive Camera Market Segmentation
The Europe automotive camera market is segmented into application, type, vehicle type, level of autonomy, and country. Based on application, the Europe automotive camera market is bifurcated into park assist and ADAS. The park assist segment accounted for a larger market share in 2022. Based on type, the Europe automotive camera market is categorized into mono camera, surround view camera, and rear view camera. The rear view camera segment accounted for the largest market share in 2022, owing to increasing awareness for safe driving that needs the proportion of cars with a rear view camera. Based on vehicle type, the Europe automotive camera market is bifurcated into passenger cars and commercial vehicle. The passenger cars segment accounted for a larger market share in 2022 owing to growing initiatives for introducing regulatory policies for safety and comfort for passenger vehicles. Based on level of autonomy, the automotive camera market is segmented into L1, L2, L3, and others. The L1 segment accounted for a larger market share in 2022. Moreover, the L2 segment is projected to observe significant growth during the forecast period owing to the growing demand for driver assistance systems. Based on country, the Europe automotive camera market is segmented into France, Germany, Italy, Russia, the UK, the Rest of Europe. Germany held the largest market share in 2022.
Aptiv PLC; Autoliv Inc.; Continental AG; FLIR Systems, Inc.; Gentex Corporation; Magna International Inc.; Mobileye; Robert Bosch GmbH; Stonkam Co., Ltd.; and Valeo are among the leading companies operating in the Europe automotive camera market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,414.23 Million |
| Market Size by 2028 | US$ 8,439.24 Million |
| CAGR (2022 - 2028) | 23.2% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Automotive Camera Market is valued at US$ 2,414.23 Million in 2022, it is projected to reach US$ 8,439.24 Million by 2028.
As per our report Europe Automotive Camera Market, the market size is valued at US$ 2,414.23 Million in 2022, projecting it to reach US$ 8,439.24 Million by 2028. This translates to a CAGR of approximately 23.2% during the forecast period.
The Europe Automotive Camera Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Camera Market report:
The Europe Automotive Camera Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Camera Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Camera Market value chain can benefit from the information contained in a comprehensive market report.
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