Vehicle cameras were once too costly to be advantageous for car owners, but in the present day, they have become a valuable resource for any vehicle. Vehicle cameras facilitate real-time video recording and capture images both inside and outside the car. vehicle cameras, in conjunction with other ADAS technologies, help make driving safer and more efficient. Market Research Future (MRFR) has recently published an in-depth research report on the global vehicle camera market which is based on meticulous analysis of the pertinent factors that can impact the market over the forecast period of 2020-2027. MRFR has projected a CAGR of 10% in the market over the forecast period.
The use of vehicle cameras has increased significantly over the years as they provide an added level of security. They help to detect pedestrians and other vulnerable road users and help mitigate in complex road environments. Technological advancements in vehicle cameras along with a reduction in price, has raised their adoption among end users, which has driven the growth of the market.
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Vehicle cameras monitor and record footage both inside and outside the car which can help as evidence in case of liabilities, insurance claims, and legal ramifications in the incidence of road accidents, thefts, or even in case of reports filed against commercial cars by passengers.
Vehicle cameras are very helpful to transportation organizations who have high-security applications or the requirement to screen high-esteem load or travelers in real-time. Vehicle cameras have become a necessity in the transport industry. GPS cameras aid fleet administrator to keep an eye on the whereabouts of vehicles and reduce the chances of accidents, and other adverse incidents.
The introduction of stringent road safety regulations combined with a heightened focus on pedestrian safety in multiple countries has further raised the adoption of vehicle cameras.
Segmentation
By vehicle type, the vehicle camera market has been segmented into passenger vehicle and commercial vehicle.
By camera type, the vehicle camera market has been segmented into Front View, Rear View, and Interior Cam.
By technology, the vehicle camera market size has been segmented into night vision recording, accident sensor, built-in GPS, and others.
By end use, the vehicle camera market has been segmented into transportation vehicles, government and defense vehicles, private vehicles, and others. The other segment consists of fire rescue, healthcare, and sports vehicles.
Regional Analysis
North America is the leading market for vehicle cameras. various insurance companies have initiated schemes such as in-car camera incentive programs in the developed economies of the region such as the US and Canada, which has raised the adoption of vehicle cameras in the region. Moreover, strict safety regulations enacted by the governments in the region has prompted the installation of cameras in vehicles. The new car assessment programs have also influenced the growth of the market.
The APAC vehicle camera market is anticipated to showcase substantial growth over the forecast period. The surge in the incidence rate of road and parking accidents along with the rise in false claims has propelled the need for vehicle cameras. Evolving road safety regulations in the developing countries of the region have also aided the growth of the market.
Competitive Landscape
Continental AG (Germany), GoPro Inc. (U.S.), Transcend Information Inc. (Taiwan), Valeo (France), Autoliv Inc (Sweden), Falcon Electronics LLC (Balkans), Qrontech Co. Ltd. (South Korea), DCS Systems Ltd. (U.K.), Delphi Automotive PLC (U.K.), S.Will Industrial Ltd. (China) , and Robert Bosch Gmbh (Germany) are the eminent players in the vehicle camera market.
Industry Updates
June 2020 - ZF Friedrichshafen AG, a German car parts maker, has developed a dual camera lens specifically designed for the commercial truck market. The dual cam is designed to meet various regulatory requirements and is capable of traffic sign recognition, lane keeping assist and centering and object and pedestrian detection to enable automatic emergency braking.
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Key Questions Addressed by the Report
What was the historic market size?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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