Global Vehicle Camera Market Information Report By Vehicle Type (Commercial Vehicle and Passenger Vehicle), by Camera Type (Front View, Rear View and Interior Cam), by technology (Night Vision Recording, Accident Sensor, Built-in GPS and Others), by end use application (Transportation Vehicles, Government and Defense Vehicles, Private Vehicles and Others) and By Region – Forecast To 2023
Vehicle camera is used to record real-time videos and images of the cabin as well as surroundings of a vehicle. Advanced cameras may feature technologies such as GPS, loop recording, and G-sensors among others. The market for global vehicle camera is projected to generate a CAGR of 10 % during the forecast period.
Growing Demand For Automotive and Demand For Higher End Vehicles Is The Primed River Of The Market
There has been an exponential trend in production of automobiles. The number of automobile models in the U.S. has grown exponentially from 1980 to 2015. The global automotive production increased at a rate of 4.5 % registering 94,976,569 vehicles in 2016. The demand for higher-end vehicles is another driver of the market. Vehicle cameras are also being used for monitoring athletes and car racers, tracking records and for broadcasting events in sports vehicles. The entertainment industry utilizes vehicle cameras for creating advertisements and shooting of action sequence. Adoption of cameras in defense vehicles is another avenue for the market growth.
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Technological Advances And Regulations Is Driving Market Growth
The technological advancements in cameras along with the reduction in prices have led to the inclusion of a camera in vehicles. The introduction of various road safety regulations by the government of multiple countries and the benefits availed in claiming insurance is another driver of the market. The growing use of cameral providing real-time video by law enforcement agencies is another driver of the market. The use of real-time recording as evidence for the prosecution of times of theft, accident, and others is driving the market.
Lack Of Awareness Is Restricting The Market Growth
Lack of awareness and higher prices of high-end vehicles are acting as constraints on the market.
To generate an accurate assessment of the vehicle camera market, the report is segmented by end use application and regions.
Based on end use application, the market has been segmented into vehicles, government and defense vehicles, private vehicles and others. Others comprise of applications such as fire rescue, healthcare, and sports vehicles.
Based on regions, the global vehicle camera market has been divided into four significant areas such as North America, Europe, Asia Pacific and Rest of the World.
The prominent vendors operating in the global vehicle camera market are Robert Bosch Gmbh (Germany), GoPro Inc. (U.S.), Autoliv Inc (Sweden), Valeo (France), and Continental AG (Germany), Delphi Automotive PLC (U.K.), Qrontech Co. Ltd. (South Korea), Falcon Electronics LLC (Balkans), DCS Systems Ltd. (U.K.), S.Will Industrial Ltd. (China) Transcend Information Inc. (Taiwan), and others.
North America region led by the U.S. dominates the global vehicle camera market over the forecast period. The development of insurance schemes such as in-car camera incentive program and enactment of safety regulations introduced by the government is resulting in higher market penetration.
The explosive increase in some vehicles in the Asia Pacific region and the growth of income in China and India is a strong driver of the market. Asia Pacific region is projected to generate the fastest growth. The European market is dominated by Germany and Italy owing to their sizeable automotive industry and presence of global players such as Audi, Mercedes Benz, and others.
The Middle East and Africa region are dominated by Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar owing to demand for high-end cars. The Africa market is expected to generate moderate growth.
The report for Global Vehicle camera Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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