The global under vehicle surveillance market is garnering substantial traction. The market growth attributes to favorable government regulations in several countries across the world. Besides, the increasing demand for premium cars equipped with vehicle surveillance systems and a wide range of benefits of under vehicle surveillance systems drive the market growth.
Moreover, high penetration of advanced software such as vehicle inspection and vehicle monitoring escalates market growth. According to Market Research Future (MRFR), the global under vehicle surveillance market valuation is projected to reach USD 10 BN by 2023, growing at 13% CAGR throughout the review period (2018 – 2023). The rising uptake of advanced software solutions for vehicle presence detection and automatic vehicle presence monitoring positively impacts market growth.
Additionally, the increasing demand for electronic displays in developing countries for vehicle inspection and vehicle monitoring substantiates the market size. Also, advances in-vehicle surveillance and various solutions offered by vehicle surveillance as software allow the market to witness a constant revenue increase. Rising defense budgets to control territorial conflicts and disputes worldwide allow the market to grow at a significant rate.
Global Under Vehicle Surveillance Market - Competitive Landscape
The under vehicle surveillance market appears to be well-established and highly competitive with the presence of several well-established players. Mergers & acquisitions, brand reinforcement, and product launches remain the key trends of these players to drive their share in the market.
Major Players:
Players leading the global under vehicle surveillance market include Robert Bosch GmbH (Germany), Delphi Automotive PLC (UK), Continental AG (Germany), Honeywell Security Group (US), DENSO Corporation (Japan), COMM-PORT Technologies (US), SecuScan (Germany), Law Enforcement Associates (U.S.), and Hangzhou Hikvision Digital Technology Co. Ltd. (China), among others.
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Global Under Vehicle Surveillance Market - Segmentation
By Type : Fixed and Portable.
By End-Users: Military & Defense, Government, Commercial, Energy Plant Entrances, and others.
By Regions : Americas, Europe, APAC, and Rest-of-the-World.
Global Under Vehicle Surveillance Industry- Regional Analysis
North America dominates the global under vehicle surveillance market. The largest market growth attributes to the growing demand for high-end technology solutions and increasing R&D initiatives in this region. Besides, positive trends in economic growth and growing awareness of vehicle safety drive the growth of the market. Moreover, the increasing demand for these systems for defense applications and high R&D investments by industry players fosters the regional market's growth.
The US and Canada lead the regional market due to the significant demand for new and advanced under vehicle surveillance systems. Also, growing product launches and growing awareness about the benefits of under vehicle surveillance push the regional market's growth. The presence of several major players and state-of-the-art development centers acts as a key driving force for the market growth. The North American under vehicle surveillance market is poised to retain its dominance throughout the assessment period.
Increasing new product launches and the availability of advanced technologies act as major tailwinds for the growth of the regional market. The European under vehicle surveillance market is estimated to grow at a significant CAGR throughout the analysis period.
Industry/ Innovation/ Related News
December 4, 2020 ---- Dahua Technology Co., Ltd. (China), a leading global player in video surveillance products and services, launched new security solutions designed for all applications. These new security solutions include several new video security solutions, including hybrid thermal cameras, multisensory cameras, penta-brid recorders, panoramic fisheye cameras, as well as license plate recognition cameras.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Under vehicle surveillance Market, By Segments
- Competitive Analysis
Continued…
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The system consists of a camera that captures images of the vehicle undercarriage for automated or manual inspection by systems or security personnel.
The global under vehicle surveillance market was assessed by Market Research Future (MRFR).
It was ascertained through the assessment that the global under vehicle surveillance market will garner a projected CAGR of 13% during the forecast period between 2017 and 2023.The rising need for precise and appropriate security measures is one of the primal drivers affecting the growth of the global under vehicle surveillance market.
Under vehicle surveillance systems enable users to scan invisible threats that might be existing under the vehicle.
The technology is a superior alternative for archaic hand-held mirrors that offer limiting view in comparison.
These factors, coupled with the versatility of the technology, is expected to push the demand of the global under vehicle surveillance market in the coming years.Regional AnalysisThe global under vehicle surveillance market is regionally segmented across the following geographical territories: North America, Europe, Asia Pacific, and the Rest of the World (RoW).The North American regional market holds the highest share in the global landscape and is expected to retain its positioning in the coming years.
Overview:Market Research Future (MRFR), in a detailed analysis of the global under vehicle surveillance market, revealed a possibility for the market to achieve 13% CAGR during the forecast period of 2018 to 2023.
Among these, the military & defense sector is expected to play a crucial role as the rising demand for security in the sector and a hike in budgetary expenditure would provide a tailwind to the market.
Competitive Landscape:The global under vehicle surveillance market is getting support from several companies like Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Honeywell Security Group (U.S.), COMM-PORT Technologies (U.S.), Law Enforcement Associates (U.S.), SecuScan (Germany) and Hangzhou Hikvision Digital Technology Co. Ltd. (China).
Under Vehicle Surveillance Market@ http://heraldkeeper.com/featured/covid-19-impact-on-under-vehicle-surveillance-market-2020-growth-but-future-outlook-remains-positive-with-rising-demand-recent-opportunities-and-global-demand-578621.html Industry News:In July 2020, ATWT made an announcement regarding its acquisition of Level Three Security.
This latter has a strong profile in providing security and surveillance-related services.
With this acquisition, ATWT promises to upgrade its vehicle safety product line.
