Market Scenario:
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 2022 to 2030. 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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Key Players: -
- Bosch Group (Germany)
- Delphi Automotive PLC (U.K.)
- Zhejiang Dahua Technology Co. Ltd. (China)
- Advantech Co. Ltd. (Taiwan)
- Nexcom International Co. Ltd. (Taiwan)
- Hangzhou Hikvision Digital Technology Co. Ltd. (China) Seon (Canada)
- Amplicon Liveline Ltd. (UK) and FLIR System Inc. (U.S.)
Segmentation:
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.
Regional Analysis:
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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