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.
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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 โSVNetโ. 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.
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Aptiv PLC
Autoliv Inc.
Continental AG
FLIR Systems, Inc.
Gentex Corporation
Magna International Inc.
Mobileye
Robert Bosch GmbH
Stonkam Co., Ltd.
Valeo
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
Segments Covered
By Application
By Type
Mono Camera
Surround View Camera
Rear View Camera
By Vehicle Type
Passenger Cars
Commercial Vehicle
By Level of Autonomy
Europe Automotive Camera Regional Insights
The geographic scope of the Europe Automotive Camera refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
ย Key Drivers of Market Growth
Rising Safety Concerns: Road safety remains a key issue in Europe, where traffic accidents continue to cause thousands of fatalities each year. To address these concerns, the European Union (EU) has implemented stringent safety regulations that mandate the use of advanced safety features in vehicles. One of the most crucial technologies in this regard is the automotive camera, which is used in a variety of ADAS applications, including lane departure warnings, collision avoidance, and rear-view cameras.
The use of cameras to monitor the surroundings of a vehicle helps drivers make informed decisions, reducing the likelihood of accidents. With the EU focusing on improving road safety, the demand for camera systems equipped with features like blind-spot detection, night vision, and parking assistance is expected to increase.
Stringent Regulatory Standards: European regulatory bodies have set clear guidelines for vehicle safety, pushing manufacturers to integrate advanced driver-assistance technologies. In 2022, the European Commission implemented the General Safety Regulation (GSR), which mandates that all new cars and vans must be equipped with a wide range of safety features, including camera-based systems. These regulations are expected to drive the market for automotive cameras in the coming years.
Furthermore, as the EU continues to enforce these regulations, it is likely that manufacturers will increasingly prioritize the inclusion of high-performance camera systems in their vehicles. This will further fuel the demand for advanced camera technologies in the region.
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