Vehicle camera Market Analysis 2019 | Industry Updates, Major Key Players, Size, Share, Trends, Growth And Future Prospects By Forecast To 2023
Vehicle Camera Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023. Vehicle Camera Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.
Taking these points into consideration, the global vehicle camera market is expected to witness remarkable growth over the forecast period. The calculated CAGR of the global market is slated to be 10% over the forecast period.
Market Research Future mentions that the global vehicle camera market will experience considerable growth over the forecast period. The factors identified as the major drivers are the advancing technologies in cameras, the declining prices of the product, the emergence of various road safety regulations by the government of various key countries, and the benefits that can be claimed from insurance companies. However, the growth of the market can witness a hurdle due to the regulations imposed by some governments, especially in European nations, in regard to public recording.
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The global vehicle camera market is geographically segmented into four major regions, namely Europe, Asia Pacific, North America, and the Rest of the World.
The global vehicle camera market is projected to be spearheaded by North America during the forecast period. The region is slated to stand tall and maintain its growth trajectory in the coming years. The growth of the regional market is due to the presence of developed and established countries like the US and Canada. These developed countries contribute significantly to the overall growth of the North American region. Herein, various insurance companies have begun offering several schemes like in-car camera incentive initiative. The safety regulations imposed by the government of this region has encouraged the consumers to install these types of cameras in their respective vehicles.
The Asia Pacific region is also slated to grow massively over the forecast period as estimated by Market Research Future. The region holds a key presence in the global landscape and its importance is only expected to widen with time. The market is gaining considerable growth due to the increasing prevalence of accidents herein and the growing awareness among the consumers concerning the benefits of installing vehicle cameras.
The global vehicle camera market segmented into the following components to ensure better understanding of the report: Vehicle Type, Technology, End-use Application, and Camera Type.
By vehicle type, the market divides into passenger vehicle and commercial vehicle.
By technology, the market includes accident sensor, night vision recording, built-in GPS, and others.
By end-use application, the market segments into government, transportation vehicles, defense vehicles, private vehicles, and others. The others segment comprises of applications like healthcare, fire rescue, and sports vehicles. Vehicle cameras are used in sports vehicles for broadcasting live events, tracking records, and for monitoring the car racers and athletes’ condition. In recent years, the vehicle cameras are increasingly being used in the entertainment industry for activities like shooting of action sequences requiring constant movement in movies and for creating advertisements.
By camera type, the market breaks into interior cam, front view, and rear view cameras.
The global vehicle camera market is off-late seeing heightened increase in terms of competition and is projected to further intensify during the forecast period. In order to gain a competitive edge over the competitors and maintain their standings in the market, the players incorporate various strategies in the form of collaboration, acquisition, expansion, and partnership. The increasing advancements in technology in manufacturing automotive test equipment and the growing research and development expenditure by key players is anticipated to push the competition level of the global market.
The global vehicle camera market includes various key players, as stated by MRFR in its latest report. This includes names such as GoPro Inc. (U.S.), robert Bosch Gmbh (Germany), Falcon Electronics LLC (Balkans), Autoliv Inc (Sweden), Valeo (France), Delphi Automotive PLC (U.K.), DCS Systems Ltd. (U.K.), Continental AG (Germany), Transcend Information Inc. (Taiwan), Qrontech Co. Ltd. (South Korea), S.Will Industrial Ltd. (China), and others.
April 29th, 2019, Xiaomi, a pioneering digital tech company in the world, announced the imminent launch of its new vehicle camera named DDPAI miniONE Dashcam that has night vision integrated with it and can record clean videos at night.
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