The Europe automotive camera market is expected to record a CAGR of 14.53% in terms of revenue and 19.38% in terms of volume over the forecasted years of 2021 to 2028. The market growth of the region is facilitated by key factors such as the rising need for active and passive safety characteristics for an improved driving environment, the presence of major manufacturing firms, and the increasing commercialization of high-level automated systems.
The Europe automotive camera market growth analysis entails the evaluation of Germany, Poland, Russia, Belgium, France, Italy, the United Kingdom, and the rest of Europe. France has continued to be a dominant partner across several technology-oriented industries. The country has also been at the forefront, especially in terms of adopting state-of-the-art solutions and technological advancements. In addition, factors such as the well-established presence of companies providing autonomous vehicles, the increasing demand for reliable transportation systems, and strict government rules and regulations associated with vehicular safety play an important role in fueling the demand for automotive cameras in France.
Key developments are being initiated by numerous companies in Italy for the adoption of backup cameras for vehicles. In this regard, major players like Mobileye are effectively operating towards the development and introduction of backup cameras, thereby fueling the demand for automotive backup cameras in the country. Hence, these factors are estimated to drive the market growth in Europe during the projected period.
Leading companies operating in the market are Kappa Optronics GmbH, Valeo Group, Aptiv PLC, etc.
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