Regionally, North America accounted for the largest market share from countries such U.S. and Canada among others. The reason is attributed to growing demand for high-end technology solutions, increasing R&D happening in this region, changing in buying pattern, positive trends in the economy growth and growing awareness towards vehicle safety. However, Asia Pacific is expected to grow over the forecast period, 2017-2023. The reason is attributed to presence of large number of manufacturers and the increasing concerns regarding safety and security.
The global under vehicle surveillance market can be bifurcated as type, end-users and region. On the basis of type, the market can be segmented as fixed and portable. Out of these, portable segment accounted for the largest market share majorly due to growing demand for inspection of the undersides of road vehicles. However, fixed segment is expected to grow at a steady rate over the forecast period, 2017-2023.
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The factors contributing to the growth of the under vehicle surveillance market are growing due to favorable government regulations in several countries, increasing demand for premium cars equipped with vehicle surveillance systems and wide range of benefits of under vehicle surveillance systems. Furthermore, factors such as high penetration of vehicle surveillance in developing countries and various solutions offered by vehicle surveillance as a software are expected to boost the growth of the under vehicle surveillance market over the forecast period, 2017-2023.However, complexity, high cost of systems regulations and technological advancements in autonomous car are the factors hampering the growth of the overall market.
The global under vehicle surveillance market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The under vehicle surveillance market is highly competitive due to the presence of several large vendors.
The global Under Vehicle Surveillance Market is expected to reach approximately USD 10 billion by the end of 2023 with 13% CAGR during forecast period 2017-2023.
Major Key Players:
- 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)
- Hangzhou Hikvision Digital Technology Co. Ltd. (China).
For the purpose of this study, Market Research Future has segmented the market of under vehicle surveillance into type, end-users and region.
- Energy plant entrances
- Military & Defense
- North America
- Asia Pacific
- Rest of the World
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- Device manufacturers
- Network Operators
- Research firms
- Software Developers
- Commercial Banks
- Government Agencies
- End-user sectors
- Technology Investors
Table of Contents
1 Market Introduction
1.2 Scope of Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodology
2.1 Research Network Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
3 Market Dynamics
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
3.5 Market Restraints
List of Tables
Table 1 under Vehicle Surveillance Market, By Type
Table 2 under Vehicle Surveillance Market, By End-Users
Table 3 under Vehicle Surveillance Market, By Geography
Table 4 North America under Vehicle Surveillance Market, By Type
Table 5 North America under Vehicle Surveillance Market, By End-Users
List of Figures
Figure 1 Research Methodology
Figure 2 under Vehicle Surveillance Market, By Type (%)
Figure 3 under Vehicle Surveillance Market, By End-Users (%)
Figure 4 under Vehicle Surveillance Market, By Regions (%)
Figure 5 North America under Vehicle Surveillance Market, By Type (%)
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