The rise in security concerns has led to increasing adoption of surveillance systems in automobiles. Market Research Future has unfolded in its analysis that the global in-vehicle video surveillance market is expected to thrive at a CAGR of 26% across the assessment period 2017 to 2023. The market is also estimated to value at USD 5.6 Bn by the end of the evaluation period.
Rising demand for both passenger and commercial automobiles is anticipated to catalyze the expansion of the in-vehicle video surveillance market over the next couple of years. Increasing applications of the product while driving has led to its accelerated adoption across the automotive industry. The trend is assessed to perpetuate in the years to come.
Increasing implementation of vehicle safety regulation across the world supports the deployment of vehicle surveillance systems. It is projected to motivate the growth trajectory of the global in-vehicle video surveillance market over the forecast period. Increasing cases of road accidents are also prognosticated to lead the expansion of the market over the next few years.
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Bosch Group (Germany), Delphi Automotive PLC (U.K.), Zhejiang Dahua Technology Co. Ltd. (China), Advantech Co. Ltd. (Taiwan), Amplicon Liveline Ltd. (UK), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Nexcom International Co. Ltd. (Taiwan), Seon (Canada), and FLIR System Inc. (U.S.) are some of the major players of the in-vehicle video surveillance market. market participants are expected to invest in next-gen technologies to gain an edge over competitors. In addition, the focus is also on the expansion of regional footprints, which is supposed to motivate the competitiveness in the in-vehicle video surveillance market over the next couple of years. Approaches such as mergers & acquisitions, product innovations, agreements, etc. are poised to be witnessed in the upcoming years.
The segments of the global In-Vehicle Video Surveillance Market, based on solution, are blind spot detection system, lane departure warning system, parking assist system, head up display device, and GPS. The GPS segment is likely to expand at a rapid pace over the next few years. It resonates strong growth potential and is expected to dominate a considerable fraction of the market in the years to come.
On the basis of vehicle type, the in-vehicle video surveillance market has been bifurcated into commercial and passenger.
Application-wise the global in-vehicle video surveillance market has been segmented into longstop object detection, traffic congestion, law enforcement, and others.
The regional segments profiled in the geographic evaluation of the in-vehicle video surveillance market are North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). North America holds the largest share of the global market and is likely to maintain its prominence over the next few years. The adoption of advanced technologies at an early stage is likely to boost the growth of the in-vehicle video surveillance market in the region through the assessment period. Europe is assessed to train North America market over the next few years. Rising implementation of favorable safety laws is poised to encourage expansion of the regional market in the foreseeable future. Asia Pacific is likely to witness substantial growth over the next few years and is expected to maintain its position at the third spot across the evaluation period.
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In June 2019, Chinese company Xiaomi has announced the launch of Yi technology backed Yi Dash Camera, which can be installed in vehicles, for the Indian market.
In April 2019, KENT, India’s most trusted water purifier brand, has ventured into the vehicle camera market. It has announced the launch of a next-gen car camera, KENT CamEye, for ensuring passenger safety and security.
LIST OF TABLES
TABLE 1 GLOBAL IN-VEHICLE SURVEILLANCE MARKET BY SOLUTIONS, 2019-2023 (USD MILLION)
TABLE 2 GLOBAL IN-VEHICLE SURVEILLANCE_BLIND SPOT DETECTION MARKET, 2019-2023 (USD MILLION)
TABLE 3 GLOBAL IN-VEHICLE SURVEILLANCE_PARKING ASSIST SYSTEM MARKET, 2019-2023 (USD MILLION)
TABLE 4 GLOBAL IN-VEHICLE SURVEILLANCE_LANE DEPARTURE WARNING SYSTEM MARKET, 2019-2023 (USD MILLION)
TABLE 5 GLOBAL IN-VEHICLE SURVEILLANCE_HEAD UP DISPLAY DEVICE MARKET, 2019-2023 (USD MILLION)
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LIST OF FIGURES
FIGURE 1 GLOBAL IN-VEHICLE SURVEILLANCE MARKET: DRIVERS & CHALLENGES
FIGURE 2 GLOBAL IN-VEHICLE SURVEILLANCE SUPPLY CHAIN ANALYSIS
FIGURE 3 GLOBAL IN-VEHICLE SURVEILLANCE MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 4 GLOBAL IN-VEHICLE SURVEILLANCE MARKET BY SOLUTIONS, 2019-2023 (USD MILLION)
FIGURE 5 GLOBAL IN-VEHICLE SURVEILLANCE MARKET, BY VEHICLE TYPE, 2019-2023 (USD MILLION)
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