Global Vehicle Camera Market Report for Growth Analysis and Forecasts During 2014–2022

The limited infrastructure facilities as compared to the overflowing population across many developing countries in Asia-Pacific can be held responsible for most on-road and parking accidents. Along with the economic upliftment of nations such as India, China, Pakistan, and Thailand, the traffic density has also registered an increase. The automotive industry flourishes simultaneously over this region. Advanced vehicle cameras have become both necessary and affordable in the present scenario. The global market expects solid increase in terms of demand and revenues from the region.

Allied Market Research has recently published a detailed report on the global vehicle camera market over 2014–2022. As per the findings of the report, the global market is expected to reach net worth of $7,567 million in terms of revenue by 2022. Analysts project the industry to register an approximate CAGR of 15% throughout the forecast period 2016–2022. Among the different price ranges of the market offerings available on commercial platforms, the mid-range vehicle camera segment would dominate the sales volume over the forecast period. Over the same duration, the study projects that North America would lead in terms of total revenue generated over the other geographical sales avenues.

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The global vehicle camera market report discusses the different drivers and restraints that impact the growth of the industry. Among the primary factors that have been discussed, the rise in the incidents of road accidents, false insurance claims, and vehicle thefts gain focus for discussion. They are accredited to have fostered the rapid adoption of vehicle cameras. In addition, the growth of the vehicle camera market would be accelerated due to the use of vehicle cameras in the commercial sector for shooting movies and advertisements, patient monitoring in ambulatory healthcare, as well as track players in sport events.

However, the significant increase in prices is expected to restrict the growth of vehicle camera industry. The introduction of advanced technological features in products, such as GPS, remote sensing technology, dual lens cameras, night vision cameras, and 3D imaging technology, has shaped the consumer trends over the study period. Novice developments in these areas are expected to provide growth opportunities for the global industry.

The global vehicle camera market report highlights the leading segments that exhibit promising growth indicators over the study period. It projects that the private end-user segment accounted for the maximum revenue share in 2015. This was owing to the then increase in threat of vehicle robberies, road accidents, and parking accidents. At present, the commercial end-user segment is observed to be the fastest growing segment, and is projected to register a CAGR of around 16% over the forecast period. The double-digit growth has been attributed to the extensive use of vehicle cameras across the medical, tourism, and entertainment industries.

Based on the price range of products, the mid-range vehicle cameras have dominated the global vehicle camera market. The adoption of mid-range vehicle cameras has increased over the recent years due to its various superior features such as loop recording, rear and front view, GPS technology, and wide angle view available, at comparatively low price than the premium segment of the vehicle camera market.

Based on geographical regions, North America accounted for the maximum global vehicle camera market share in 2015. The region is expected to maintain its revenue trend throughout the forecast period given the widespread adoption of advanced driver assistance systems (ADAS) in vehicles among private and commercial sectors. Asia-Pacific is projected to grow at the highest CAGR, due to rise in events of road and parking accidents along with the false insurance claims made post accidents.

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Key findings of the Vehicle Camera Market Study
• In 2015, mid-range vehicle cameras dominated the global industry in terms of revenue. The segment is projected to grow at a CAGR of over 14% throughout the forecast period.
• Analysts estimate the highest CAGR of 16% for the commercial end-user segment over the forecast period.
• The private end-user segment is expected to generate the highest revenue during 2016–2022.
• In 2015, North America was accounted for the highest value of revenue generated in terms of geographical regions.
• On the growth charts, Asia-Pacific has been projected to register a significant CAGR of around 16% between 2016 and 2022.

The global vehicle camera market report presents the in-depth company profiles for the leading manufacturers and vendors in this segment. The list of companies taken up for the study are inclusive of names such as Qrontech Co. Ltd., DCS Systems Ltd., AIPTEK International, GoPro, Inc., and Garmin International, Inc. The report has its focus on the various business strategies that aid the market players maintain their position. It observes product launch and partnership for expansion as the popular moves in this segment. For instance, Transcend Information, Inc. launched the DrivePro 520 Car Video Recorder in August 2015, that comes with a dual lens camera and rear lens equipped with infrared LEDs for clear night view of inside and outside the vehicle.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. We even conduct consumer surveys to get raw and unbiased information that helps our clients to offer better products/services that match with consumer demands, and entry level companies are able to better design their products and services. Business intelligence solutions offered by us help you take strategic success-oriented decisions.

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