Market Size of Europe Automotive Camera Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.72 Billion |
| Market Size (2029) | USD 6.78 Billion |
| CAGR (2024 - 2029) | 20.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Automotive Camera Market Analysis
The Europe Automotive Camera Market size is estimated at USD 2.72 billion in 2024, and is expected to reach USD 6.78 billion by 2029, growing at a CAGR of 20% during the forecast period (2024-2029).
- The COVID-19 pandemic hindered the growth of the market as the suspension of vehicle production and supply disruptions brought the automotive industry to a halt. However, the country witnessed an increase in the production of vehicles in 2022 and was likely to witness major growth in the market during the forecast period. Furthermore, the development of new technologies like night vision systems, cruise control systems, etc., and growing e-mobility drove demand in the market.
- Over the medium term, With the increase in the adoption of automotive cameras, manufacturers are focusing on the optimization of the vehicle sensor architecture to achieve significant adoption in the market.
- Camera technology in the automotive industry in Europe was introduced to monitor drivers' attentiveness and may even act as an enabler for automated driving. There has been an increase in the installation of safety and driver assistance systems in light of the regulatory standards of the Corporate Average Fuel Economy (CAFÉ), the Environmental Protection Agency (EPA), and the New Car Assessment Program (NCAP) Safety Assist Protocol program.
- Growing production of vehicles with integrated advanced driver-assistance system (ADAS) features in the wake of rising awareness toward the comfort and safety of passengers and government regulations mandating safety features are expected to drive demand in the market. Moreover, the rising acceptance of self-driving or automated vehicles further contributes to the enhanced growth of the market.
- Factors such as increasing penetration of safety systems in vehicles and a high degree of competition among vendors for providing value-added services and products that cater to customer needs are likely to contribute to enhanced development in the market.
