March 13, 2020
The research report on ‘Europe Automotive Camera Market Size By Type, Application, Vehicle Type, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019 – 2025’, which is available with Market Study Report LLC, highlights the industry trends and growth aspects for automotive camera market players in Europe.
According to the report, Europe automotive camera market size is expected to surpass USD 5 billion by the year 2025. Escalating disposable income have enhanced the sales of vehicles, which in turn is a major factor driving the automotive camera market growth. These systems are installed in the vehicles in order to improve the safety of the pedestrians and the passengers. Increased pervasiveness of road fatalities has augmented the demand for advanced safety features in vehicles. Adding to this, introduction of strict government regulations pertaining to vehicle safety are further aiding the expansion of Europe automotive camera industry share.
The report states that the automotive trifocal camera market segment is expected to register significant growth during the forecast period. These systems offer enhanced depth perception as well as superior distant-object detection. Moreover, these systems help in detecting any sudden appearance of pedestrians or objects that may result in an accident. Increasing development of semi-autonomous and autonomous vehicles will favor the market outlook.
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The report cites that the DMS (driver monitoring system) segment is presumed to expand substantially over the coming years. Automotive cameras are integrated in DMS in order to identify the drivers’ drowsy behavior that may cause road fatalities. These cameras allow keeping track of several facial expressions of drivers. In addition to this, these systems are extensively used in applications such as traffic sign recognition, blind spot detection and parking assist.
The prominent manufacturers and suppliers of automotive camera market in Europe are Robert Bosch GmbH, Veoneer, Continental AG, Magna International Inc. and Aptiv PLC. These market players are opting for various business strategies such as new product launches as well as mergers and acquisitions in order to gain an advantage in the overall market.
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