According to a new market report published by Lucintel, the future of the global vehicle surveillance market looks promising with opportunities in the passenger car and commercial vehicle industries. The global vehicle surveillance market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2025 and it is expected to reach an estimated $75.2 billion by 2025 with a CAGR of 10% to 12% from 2020 to 2025. The major drivers of growth for this market are growing demand for premium cars with advanced safety and security features and stringent government regulations concerning passenger safety.
In this market, in-vehicle, out vehicle, and under vehicle are the segments by product type. Lucintel forecasts that the in-vehicle segment is expected to remain the largest segment due to the growth in vehicle production and increasing demand for parking assistance, blind spot detection, and information and navigation system to meet the safety and security requirements. On the basis of its comprehensive research, Lucintel predicts that under vehicle surveillance system (UVSS) is likely to experience the highest growth in the forecast period supported by increasing demand in the areas of military & defense and government buildings to ensure the public safety.
Within the in-vehicle surveillance market by vehicle type, passenger car is expected to remain the largest market due to the increasing demand for premium cars. The commercial vehicle segment is expected to experience the highest growth rate in the forecast period supported by increasing demand for vehicle tracking and information system.
In the in-vehicle surveillance market by technology type, adaptive cruise control, parking assistance system, blind spot detection systems, lane departure warning system, heads-up display, and GPS are used for vehicle surveillance. Lucintel forecasts that the GPS segment is expected to remain the largest segment due to the growing demand for vehicle tracking in cargo companies, tour and travels, and banking industry. Lucintel predicts that adaptive cruise control is likely to experience the highest growth in the forecast period supported by increasing concern towards passenger safety by automatic adjusting the speed and maintaining the distance.
North America is expected to remain the largest region during the forecast period due to the stringent government regulations for improved safety and security.
Asia Pacific and the Rest of the World are expected to witness good growth over the forecast period because of growing awareness related to transportation, passenger safety, and increasing automotive production.
For business expansion, the report suggests innovation and new product development to reduce cost and improve safety. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.
Emerging trends, which have a direct impact on the dynamics of the industry, include advanced video surveillance as a service (VSAAS) solutions for out-vehicle surveillance and increasing use of high definition camera. Robert Bosch GmbH, Delphi Automotive PLC, Continental AG, Magna International Inc. and Comm-Port Technologies are among the major suppliers of the vehicle surveillance.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global vehicle surveillance market by type, technology, end use, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Vehicle Surveillance Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global vehicle surveillance market by type, technology, end use, and region as follows:
By type [Value ($M) analysis from 2014 to 2025]:
· In-Vehicle Surveillance
· Out-Vehicle Surveillance
· Under-Vehicle Surveillance
In-vehicle surveillance market by vehicle type [Value ($M) analysis from 2014 to 2025]:
· Passenger Car
? Small Car
? Medium Car
? Large Car
· Commercial Vehicles
In-vehicle surveillance market by technology [Value ($M) analysis for 2014 and 2025]:
· Adaptive cruise control
· Parking assistance system
· Blind spot detection systems
· Lane departure warning system
· Heads-up display
Under vehicle surveillance system (UVSS) by type [Value ($M) analysis from 2014 to 2025]:
· Fixed type
· Portable type
Under vehicle surveillance system (UVSS) by end use industry [Value ($M) analysis from 2014 to 2025]:
· Military & Defense
· Government Buildings, Embassy compounds
· Energy plant entrances
By Region [Value ($M) analysis for 2014 – 2025]:
· North America
· Asia Pacific
· The Rest of the World
This 176-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/vehicle_surveillance_market_2020.aspx or email@example.com.
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global vehicle surveillance market by type (in-vehicle surveillance, out-vehicle surveillance, and under vehicle surveillance), In-vehicle surveillance by technology (adaptive cruise control, parking assistance system, blind spot detection systems, lane departure warning system, heads-up display, GPS, and others), In-vehicle surveillance by type (passenger car and commercial vehicle), Under vehicle surveillance by vehicle type (fixed and portable), Under vehicle surveillance by end use (military & defense, government buildings, embassy compounds, energy plant entrances, commercial, and others), and by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via materials or product substitution?
Q.11 What M&A activity has occurred in the last 5 years?