The Europe Automotive Image Sensors Market would witness market growth of 10.6% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 5,395.3 thousand units, showcasing a growth of 15.1% (2019-2022).
The adoption of image sensors in the automotive industry has been remarkable in recent years. A convergence of factors has fueled this growth, including technological advancements, regulatory requirements, consumer demand, and the pursuit of enhanced safety and convenience. As a result, the market has witnessed steady expansion. One of the primary drivers of adoption is the increasing incorporation of ADAS in vehicles. Regulatory bodies and safety organizations are pushing for advanced safety features, contributing to the rapid integration of image sensors. Additionally, consumer preferences for enhanced safety, convenience, and connectivity have prompted automakers to include image sensor-based systems as standard or optional features.
Furthermore, electric and autonomous vehicles (EVs) proliferation boosts image sensor adoption. EVs often come equipped with advanced technology suites, including image sensors, to cater to the preferences of tech-savvy consumers. In autonomous vehicles, image sensors are the backbone of perception systems, enabling vehicles to understand and navigate their environments. Moreover, ride-sharing and ride-hailing services have driven demand for image sensor technology. As these services prioritize safety and the passenger experience, they are increasingly equipping their fleets with image sensor-based systems.
The European automotive industry is a substantial contributor to the region's economy. It accounts for a significant portion of the European Union's manufacturing output. It is a major driver of both economic growth and innovation. European automakers are globally competitive, producing many vehicles, from compact cars to luxury brands. The industry is known for its emphasis on quality, safety, and advanced engineering. Europe exports a significant number of vehicles to countries around the world. Germany, in particular, is a major exporter of automobiles, with brands like Volkswagen, BMW, and Mercedes-Benz being recognized globally. The European automotive sector is renowned for creating various automobiles, including electric, sports, luxury, and compact cars. European manufacturers are at the forefront of EV technology and producing cutting-edge features. Thus, an increase in the sales of motor vehicles in Europe will drive the demand in the regional market.
The Germany market dominated the Europe Automotive Image Sensors Market, By Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $368.8 million by 2030. The UK market is experiencing a CAGR of 9.6% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 11.4% during (2023 - 2030).
Based on Technology, the market is segmented into CMOS, and CCD. Based on Vehicle Type, the market is segmented into Passenger Vehicles, and Commercial Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Automotive Image Sensors Market will Hit $6.6 Billion by 2030, at a CAGR of 11.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Continental AG, Infineon Technologies AG, Denso Corporation, OmniVision Technologies, Inc., Sharp Corporation (Hon Hai Precision Industry Co., Ltd), NXP Semiconductors N.V., Gentex Corporation, Canon, Inc., and Teledyne Technologies, Inc.
By Technology (Volume, Thousand Units, USD Million, 2019-2030)
By Vehicle Type (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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