Global In-Vehicle Surveillance Market, by Solution (Blind Spot Detection System, Parking Assist System, Lane Departure Warning System, Head Up Display Device, GPS), Vehicle Type (Commercial, Passenger), Application - Forecast 2023
Market Scenario
The purpose of adopting in-vehicle surveillance is to avoid threatening situations in crowded public areas. So it is fundamental to monitor the people traversing the public area, depending on which counter plan could be decided when it is required. In-vehicle surveillance is an effective solution in reducing crime rates on public places especially on public transports. Major factors driving the growth of in-vehicle surveillance market is the growing emphasis on in vehicle connectivity and increasing security concerns at public places.
Technology giants like Bosch Group, Delphi Automotive PLC, Zhejiang Dahua Technology Co. Ltd. and Advantech Co. Ltd. are the major players in the in-vehicle surveillance market. Rise in security concerns for digital business transaction is another major factor driving the growth of In-Vehicle Surveillance market. The increasing acceptance of in-vehicle surveillances by consumers is making these providers to offer more innovative but secure platform for monetary transactions to their customers. These factors are thus expected to drive the in-vehicle surveillance market in coming years.
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In-vehicle surveillance market has been segmented on the basis of solution, vehicle type and application. The solution segment is further classified into blind spot detection system, parking assist system, lane departure warning system, head up display device and global positioning system. However, the global positioning system sub segment is expected to hold the largest market share of the in-vehicle surveillance market. Due to improved network infrastructure and increasing technical expertise among people, the GPS system is becoming popular and is dominating the vehicle surveillance market. The growing technological advancement in automotive sector and with growing internet of things market, the demand for connectivity in vehicles especially in cars and trucks is rising rapidly. Presence of connectivity in cars through digital technology would optimize the vehicle’s internal functionalities and increase the comfort level of passengers in the vehicle. It also provides automakers benefit to connect all objects including smartphones, tracking devices, traffic light and other motor vehicles. Therefore, in-vehicle connectivity is also propelling market growth of in-vehicle surveillance system especially in passenger vehicles.
The global In-Vehicle Video Surveillance Market is expected to grow at approx. USD 5.6 Billion by 2023, at 26% of CAGR between 2018 and 2023.
Key Players
The prominent players in in-vehicle surveillance market are – 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.).
Key Findings
- The global in-vehicle surveillance market is expected to reach USD 29.85 billion by 2023.
- By solution, global positioning system sub segment in in-vehicle surveillance market accounts for the largest market share and is growing with approximately 16.98% CAGR during forecast period.
- By vehicle type, commercial sub segment holds the largest market growing with approximately 16.51% CAGR by the end of forecast period.
- By application, traffic congestion sub segment holds the largest market share and is growing with approximately 17.68% CAGR by the end of forecast period.
- Geographically, North America region has been projected to hold the largest market share in global in-vehicle surveillance market followed by Europe region, while Asia Pacific ranks third in the in-vehicle surveillance market.
Segments:
In-vehicle surveillance market is segmented by solution, vehicle type and application. Based on the solution, the market is segmented into blind spot detection system, parking assist system, lane departure warning system, head up display device and global positioning system. Based on vehicle type, the market is segmented into commercial and passenger. Whereas, based on application, the market is segmented into traffic congestion, longstop object detection, law enforcement and others.
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Regional Analysis:
In-vehicle market is growing with the positive growth in all the regions. Increasing application areas year on year and advancement in technology and developed network architecture is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global in-vehicle surveillance market share followed by Europe which stands as the second biggest market due to rising m-commerce market whereas, Asia Pacific stands as third largest.
Intended Audience:
- Technology Investors
- Research/Consultancy Firms
- Cloud Service Providers
- Security Service Providers
- Managed Service Providers
- Cloud Storage Providers
- Surveillance Solution Providers
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