The in-vehicle surveillance is adopted by vehicle owners in order to avoid threatening situations in crowded public areas. Market Research Future (MRFR) has published a research report about the global in-vehicle video surveillance market that determines boost for this market at 26% CAGR (Compound Annual Growth Rate) between 2017 and 2023. By value, the market has been figured to be worth the US $ 29.85 bn by the end of the forecast period.
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The prominent factors enhancing the in-vehicle video surveillance market growth are the increasing security concerns at public places and the growing emphasis on in-vehicle connectivity. Other factors that assist the market growth include automotive industry focused on developing driverless cars, drivers wishing for improved in-vehicle experience, the menace of indisciplined drivers on the roads, advancements in video surveillance technology, and growing surveillance of public vehicles like metro rails, school buses, etc.
Lastly, law enforcement agencies are adopting vehicle video surveillance for police vehicles to protect police officers and healthcare, as well as medical sector, are deploying in-vehicle video surveillance in Emergency Medical Service (EMS) vehicles in order to monitor the patient condition inside the ambulance.
However, the first factor that can restrain the market growth is a difficult implementation of high-bandwidth communication technologies and high-capacity storage devices that are required to transfer as well as record real-time high-definition video and images. Data privacy issues and high costs associated with the installation & maintenance of these systems can also slow down the market growth.
The key players in the global in-vehicle video surveillance market include Advantech Co. Ltd. (Taiwan), Amplicon Liveline Ltd. (UK), Bosch Group (Germany), Delphi Automotive PLC (UK), FLIR System Inc. (USA), Hangzhou Hikvision Digital Technology Co. Ltd. (China), Nexcom International Co. Ltd. (Taiwan), Seon (Canada), and Zhejiang Dahua Technology Co. Ltd. (China).
The global In-Vehicle Video Surveillance Market has been segmented on the basis of application, solution, vehicle type, and lastly, region. The application-based segmentation segments this market into law enforcement, longstop object detection, traffic congestion, and others. Holding the largest market share, traffic congestion segment is expected to grow at 17.68% CAGR by the end of the forecast period.
Based on the solution, the market has been segmented into the blind spot detection system, head up display device, the global positioning system (GPS), lane departure warning system, and parking assist system. GPS holds the lion’s share in the global market and the GPS market is expected to grow at 16.98% CAGR by the end of the forecast period. GPS holds the lion’s share in the global market, and by the end of the forecast period, the market is expected to grow at 16.98% CAGR.
By vehicle type, the market has been segmented into the commercial vehicle and a passenger vehicle. Commercial vehicles are used for transferring raw materials for the production of goods or finished goods to the retailers. The passenger vehicle is used by an individual for traveling and commuting. Holding the larger market share, the commercial vehicle segment is expected to grow at approximately 16.51% CAGR by the end of the forecast period.
The regional segmentation of the global in-vehicle video surveillance market has segmented the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). North America dominates the global market due to the established automotive industry and the presence of many key market players in this region. The biggest factor leading to market growth in this region is government regulations for improved safety and security of the civilians. The second factor contributing to the market growth is the high deployment of in-vehicle video surveillance solutions for first responder vehicles, military vehicles, public transit vehicles, and school buses to ensure reduction of illegal and criminal activities in the USA, Canada, and Mexico.
Latest Industry News
Quectel Wireless Solutions, a developer of the in-vehicle video surveillance system, has launched the EM20, an LTE Advanced Category 20 module with location. 7 JAN 2019
Launched by Quectel Wireless Solutions, a global supplier of the internet of things (IoT) modules, the EG18 is an LTE Category 18, high-speed module that offers 1.2Gbps downlink and 150Mbps uplink peak rates. It can be helpful for the recording and downloading of video footage during in-vehicle surveillance. 20 SEP 2018
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In Europe, the market is growing because many countries have deployed in-vehicle video surveillance systems in buses, ferries, subways, and other mass transit vehicles due to recently increasing terror attacks. Europe is the second largest regional market due to the established automotive industry and the presence of many key market players. In this region, the most vibrant economies are France, Germany, and the UK, that can be lucrative markets.
Asia Pacific region is the third largest regional market because here, countries like China and India provide a tremendous growth opportunity for the market. Factors leading to market growth in this region are increasing penetration of advanced cars with safety installations, driver monitoring systems, and automotive night vision systems. In countries like Australia, Japan, and Singapore, such cars are being preferred by customers. In many countries of the Asia Pacific region, governments are investing the in-vehicle video surveillance for public transit vehicles to boost passenger and public safety, aiding market growth.
LIST OF TABLES
TABLE 1 GLOBAL IN-VEHICLE SURVEILLANCE MARKET BY SOLUTIONS , 2017-2023 (USD MILLION)
TABLE 2 GLOBAL IN-VEHICLE SURVEILLANCE_BLIND SPOT DETECTION MARKET, 2017-2023 (USD MILLION)
TABLE 3 GLOBAL IN-VEHICLE SURVEILLANCE_PARKING ASSIST SYSTEM MARKET, 2017-2023 (USD MILLION)
TABLE 4 GLOBAL IN-VEHICLE SURVEILLANCE_LANE DEPARTURE WARNING SYSTEM MARKET, 2017-2023 (USD MILLION)
TABLE 5 GLOBAL IN-VEHICLE SURVEILLANCE_HEAD UP DISPLAY DEVICE MARKET, 2017-2023 (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, 2017-2023 (USD MILLION)
FIGURE 5 GLOBAL IN-VEHICLE SURVEILLANCE MARKET, BY VEHICLE TYPE, 2017-2023 (USD MILLION)
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