Vehicle Cameras Market : Applications and Global Markets

Vehicle cameras are video recording devices fixed in vehicles for real-time recording from the windshield. These cameras are usually installed on the dashboard or fixed on the windshield using a vacuum cup or adhesive tapes. Vehicle cameras are equipped with memory cards and a display screen. The power required for the camera is supplied from the vehicle battery or a dedicated built-in battery in the camera.

Vehicle cameras offer various advantages for private as well as commercial transportation vehicle owners. Video footage recorded from these cameras can be used as evidence in different cases such as insurance claims, fake accidents and other fraud cases.

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The market for vehicle cameras is segmented on the basis of price, end-use applications and geographic regions. Based on the price, vehicle cameras market is further divided into affordable, mid-range and high-end vehicle cameras. Among these, mid-range vehicle cameras segment led the global vehicle cameras market with highest revenue share in 2013. This was mainly due to the high return on investment provided by these cameras.

Mid-range vehicle cameras provide numerous features as compared to the affordable cameras and are cheaper than the high-end cameras. This makes mid-range vehicle cameras preferable over high-end and affordable vehicle cameras.

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In 2013, Europe held the largest market share and accounted for 44% of the global vehicle cameras market. This growth was attributed to the high adoption of these cameras in Russia and the U.K. The vehicle cameras market is expected to witness the fastest growth in Asia Pacific during the forecast period.

This is due to rapidly growing demand for these cameras in countries such as Australia, South Korea, China and Taiwan. Japan is among the earliest adopters of the vehicle cameras in the Asia Pacific vehicle cameras market.

The major companies in the global vehicle cameras include Qrontech Co. Ltd. (Lukas), DCS Systems Ltd. (RoadHawk UK), AIPTEK International, Inc., GoPro, Inc., Garmin International, Inc., Transcend Information, Inc., Pittasoft Co. Ltd., Hyundai MnSOFT and S.Will Industrial Ltd.

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