Vehicle Surveillance System Market Overview:

The global Vehicle Surveillance System Market is projected to reach a valuation of USD 30,590.45 Mn by 2032 at a CAGR of 13.10%, from USD 8,932.23 Mn in 2022.

A vehicle surveillance system is used to monitor different elements, both internal and external, of a given vehicle. The goal of these systems is to monitor turn signals, and the lights, register potential threats while a vehicle is on the road, in tracking its speed, etc. The resolution of cameras fitted in a vehicle can click high-resolution images irrespective of day or night and hence can offer a wide range of uses. Vehicle surveillance is generally classed under three types: in-vehicle, under-vehicle, and out-vehicle. According to an end-user’s demands, these vehicle surveillance systems can either be portable or permanent.

The market for vehicle surveillance systems is expected to recover from the various disruptions brought about by the COVID-19 pandemic, potentially achieving a value of US$ 75 Billion by 2025, at a CAGR of 10%.

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Segmentation:

By Product Type:

• Blind Spot Detection System (BSDS)
• Autonomous Cruise Control System (ACCS)
• Parking Assist System (PAS)
• LANE DEPARTURE WARNING SYSTEM (LDW)
• Heads-Up Display Device (HUDD)
• Global Positioning System (GPS)

By Vehicle Type:

• Passenger Vehicles
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

By Vehicle System:

• Hardware:
• • Camera
  • Monitor
  • Storage
  • Other Accessories
• Software
• Services

By Region:

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa

Key Players:

• Robert Bosch GmbH
• International Road Dynamics Inc.
• Iveda Solutions Inc.
• Delphi Automotive
• Magna International Inc.
• DENSO Corp.
• Zhejiang Dahua Technology
• Law Enforcement Associates Corp.
• Valeo
• Autoliv Inc.
• Other Key Players

DROTs:

Drivers:

A primary factor responsible for the growth of the vehicle surveillance market is the significant demand for real-time surveillance integrated with GPS tracking capabilities.

A growing number of vehicle thefts has had a positive impact on the adoption rates of vehicle surveillance systems as a means of enhancing vehicle safety.

Both the military and defense industries account for a significant portion of the vehicle surveillance market. All vehicles that enter defense or military facilities must be screened for harmful materials or substances and goods. As such these systems are employed. And, with defense budgets continually increasing, the scope for market growth profoundly increases as well.

Restraints:

These systems have been found to exhibit certain technical difficulties, and further innovations are necessary to ensure the smooth operation of these vehicle surveillance systems. This factor could have a potentially negative impact on the adoption of these systems, in turn, hampering market growth potential in the process.

Opportunities:

1. Key industry players are continually developing products with advanced features, which is likely to boost the adoption levels of these vehicle surveillance solutions, thus contributing to market growth. These new advancements in technology are expected to create new opportunities for market players.
Trends:
1. In certain areas of the world, the number of vehicle thefts continues to increase. As a means of countering this issue, software advancements in anti-theft surveillance and GPS tracking systems are being developed. This is expected to lead to a greater number of vehicle surveillance system sales. Moreover, the need to drastically lower the number of road accidents is another element contributing to the further expansion of this global market.
2. Advanced video surveillance (VSAAS) solutions for out-vehicle surveillance and increasing use of high-definition cameras are also current emerging trends being observed in this industry.

Key developments:

• In Sept., 2018: Iveda, a manufacturer of data management and cloud-based video surveillance, launched its latest product called IvedaAI which can be used for security purposes, alarms, monitoring, etc.

For the Vehicle Surveillance System Market research study, the following years have been considered to estimate the market size: