““The increasing demand for premium cars equipped with vehicle surveillance systems and demand for out-vehicle surveillance to prevent traffic fatalities would drive the vehicle surveillance market”
The vehicle surveillance market size is expected to grow from USD 49.93 billion in 2015 to USD 103.21 billion by 2022, at a CAGR of 11.1% between 2016 and 2022. The vehicle surveillance market is driven by factors such as regulations in different countries for the mandate of in-vehicle surveillance, driver assistance, or passenger safety products, wide range of advantages of in-vehicle surveillance products, increasing sales of premium cars, and increase in traffic fatalities.
“Parking assist systems and global positioning systems to gain maximum traction during the forecast period”
The parking assist and global positioning system are expected to hold the largest share of the market during the forecast period. Furthermore, given the increase in the demands for safety and driver assistance features in passenger as well as commercial vehicles, these segments are expected to gain traction in the next five years.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of the profile of primary participants is given below as:
• By Company Type: Tier 1 – 35%, Tier 2 – 46% and Tier 3 – 19%
• By Designation: C level – 45%, Maneger level – 35%, Others – 20%
• By Region: North America – 41%, Europe – 36%, APAC – 17%, RoW – 6%
With the increased penetration of the vehicle surveillance market in developing countries, advanced VSaaS solutions have a huge opportunity to proliferate in the next five years.
The various key vehicle surveillance vendors profiled in the report are as follows:
1. Robert Bosch GmbH (Germany),
2. Delphi Automotive PLC (U.K.)
3. DENSO Corporation (Japan)
4. Continental AG (Germany)