Vehicle surveillance market accelerates

Hadapsar, India

The vehicle surveillance market size is expected to grow from USD 49.93 Billion in 2015 to USD 103.21 Billion by 2022, at a CAGR of 11.1% between 2016 and 2022. Marketsandmarkets concludes that the dominant portion of this market is the in-vehicle surveillance market which is being driven by various factors in the car, insurance, safety and security industries. 

A recently released market research report from the research company divides the vehicle surveillance market into three key sections, in-vehicle surveillance, under-vehicle surveillance, and out-vehicle surveillance. Factors such as regulations in different countries for compulsory driver assistance or passenger safety products, plus a wide range of advantages provided by in-vehicle surveillance systems, increasing sales of premium cars, and an increase in traffic fatalities is creating a demand for more traffic control solutions and is driving the vehicle surveillance market forwards.

In-vehicle surveillance is dominant sector 

The in-vehicle surveillance segment of the market is expected to hold the largest share and dominate the vehicle surveillance market between 2016 and 2022 because of the increase in implementation of in-vehicle surveillance products such as parking assist systems, active cruise control, navigation system, blind spot detection, and lane departure warning systems in the different models of passenger cars or commercial vehicles. The market for under-vehicle surveillance and out-vehicle surveillance is also expected to grow at a significant rate between 2016 and 2022.

USA and Europe with largest share but APAC shows highest growth

North America and Europe are expected to hold the largest market share and dominate the vehicle surveillance market between 2016 and 2022 owing to the presence of major automotive players such as General Motors, Ford, and Chrysler. Moreover, the U.S. is one of the largest end users of passenger cars and commercial vehicles. The changes in buying patterns, positive trends in the economy growth, and growing awareness toward driver and vehicle safety are the factors which are encouraging the growth of the in-vehicle surveillance market in the Asia-Pacific region.

Wide ranging big players

The report finds that the major players in the vehicle surveillance market include Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K.), Denso Corporation (Japan), Continental AG (Germany), Magna International Inc. (Canada), Autoliv Inc. (Sweden), Valeo SA (France), Honeywell Security Group (U.S.), Hangzhou Hikvision Digital Technology Co., Ltd. (China), Bosch Security Systems(U.S.), Zhejiang Dahua Technology Co., Ltd. (China), FLIR Systems Inc. (U.S.),, Comm-Port technologies (U.S.), Law Enforcement Associates (U.S.), and Secuscan (Germany).

Within the report the in-vehicle surveillance market has been subdivided on the basis of product type and vehicle type; the under-vehicle market is segmented on the basis of types; and the out-vehicle surveillance market is segmented on the basis of hardware, software, and services The scope of the report covers detailed information regarding the major factors influencing the growth of the vehicle surveillance market such as drivers, restraints, burning issues, and opportunities.


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