The Europe Automotive Camera Market would witness market growth of 10.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 5,101.8 thousand units, showcasing a growth of 9.6% (2019-2022).
The automotive industry stands on the cusp of a transformative era, propelled by technological advancements that redefine the driving experience and enhance vehicle safety. Among the myriad innovations, these cameras have emerged as a cornerstone, revolutionizing how vehicles perceive and interact with their surroundings. The adoption of these cameras marks a paradigm shift in vehicular safety. Traditional safety systems, while effective, have witnessed a transformation with the integration of advanced camera technologies. As vehicles evolve into interconnected and intelligent entities, cameras play a pivotal role in augmenting driver awareness, facilitating automated decision-making, and mitigating the risk of accidents.
In addition, Original Equipment Manufacturers (OEMs) are strategically embracing automotive cameras as integral components of their vehicles. Leading automotive manufacturers are incorporating cameras for safety and leveraging them to enhance user experiences through features like 360-degree view systems, smart rearview mirrors, and augmented reality displays. The industry's collective shift towards camera-centric design reshapes the vehicular aesthetics and functionality narrative.
European countries, including Italy, have been emphasizing safety regulations for vehicles. Integrating advanced safety features, including camera-based systems, aligns with these regulatory requirements. Italy has a strong tradition of technological innovation and research in various industries. According to the International Trade Administration, in 2022, the automotive sector’s turnover was €92.7 billion, which was 9.3% of Italy’s manufacturing turnover and 5.2% of Italy’s GDP. In 2022, 782,629 vehicles (486,111 cars, 234,798 light commercial vehicles, and 61,720 trucks and buses) were produced in Italy. 1,335,487 new cars, 9.5% fewer than in the prior year, were registered in 2022. Thus, Europe's growing automotive sector and ADAS initiatives can increase the demand for these cameras in the region.
The Germany market dominated the Europe Automotive Camera Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,062 Million by 2030. The UK market is exhibiting a CAGR of 9.2% during (2023 - 2030). Additionally, The France market would experience a CAGR of 11.1% during (2023 - 2030).
Free Valuable Insights: The Global Automotive Camera Market will Hit $16.4 Billion by 2030, at a CAGR of 10.5%
Based on Technology Type, the market is segmented into Digital Camera, Thermal Camera, and Infrared Camera. Based on Application, the market is segmented into Adaptive Cruise Control System, Park Assist System, Blind Spot Detection, Driver Monitoring System, Autonomous Emergency Braking System, Lane Departure Warning System, and Others. Based on Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Technology Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Application (Volume, Thousand Units, USD Billion, 2019-2030)
By Vehicle Type (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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