Pune, India -- (SBWire) -- 04/09/2019 --The latest report has been added to the wide database of Vehicle Cameras Market by Infinium Global Research. This report studies the vehicle cameras Market by vehicle type (passenger car and commercial vehicle), technology (digital camera, infrared camera and thermal camera) and application (park assist system, blind spot detection, and driver monitoring system, lane departure warning, park assist system, and others) market status and outlook of global and major regions, from manufacturers, and end industries. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. vehicle cameras Market provides opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape, latest trends, and product offerings of the major companies in the vehicle cameras Market. The global vehicle cameras market is projected to grow at a CAGR of 10.5% over the forecast period of 2018-2024.
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Vehicle Camera Market: Industry Insights
Vehicle camera is a computerized device that is used to record real-time videos and to capture images from inside as well as outside the vehicle. These camera modules contain image sensors which are attached with electronic mechanisms to windshield and dashboard of vehicles. Further, these cameras have advanced features such as loop recording, GPS, G-sensors and others. External equestrian cameras are used to maintain a safe distance from the vehicle, and tracking road edges.
Vehicle Camera Market: Drivers and Restraints
Growing consciousness regarding safety is driving the demand for vehicle camera market. These vehicle cameras are very sensitive. It can sense harsh driving and helps in assisting drivers to control the vehicle. Vehicle camera alerts the driver from any dangerous situation, they start automatically and starts recording when the car engine starts. Due to its great video quality and high definition camera recording, it increases the safety standard. Besides, bulletproof military vehicles such as tanks, personnel carriers, and trucks which works in the darkness have advanced featured cameras with GPS tracking and night visions. On the other side, the high cost of advanced featured camera vehicle is estimated to restrain the growth for the vehicle camera market. Moreover, growing demand for advanced technologies such as dual lenses cameras, 3D imaging, GPS and night vision cameras are anticipated to offer growth opportunity in this market during the forecast period.
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Vehicle Camera Market: Segmentation
The global vehicle camera market is divided into vehicle type, technology, and application. Vehicle type segment includes passenger car and commercial vehicle. From this passenger car is likely to hold a significant share in the market. Increasing demand for advanced featured passenger car from the young generation is driving demand for this market. On the bases of technology, the segment is further bifurcated into a digital camera, infrared camera and thermal camera. Addition to this the application segment is classified into a park assist system, blind spot detection, and driver monitoring system, lane departure warning, park assist system, and others.
Vehicle Camera Market: Regional Insights
In terms of geographies, North America is anticipated to hold the largest market share in-vehicle camera market followed by Asia Pacific region. Due to safety regulations announced by the government in this region, and in several developed countries, insurance companies providing several schemes such as in-car camera incentive program are driving the demand for vehicle camera market in North America region. Further, in Asia Pacific region growing number of accidents and growing alertness regarding the benefits of installing cameras in the vehicle are boosting the growth of the market in this region.
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Vehicle Camera Market: Competitive Analysis
Some of the key players in global vehicle camera market are PAPAGO Inc, S.Will Industrial Ltd, Hyundai MnSOFT, Pittasoft Co. Ltd, Transcend Information, Inc., Garmin International, Inc, GoPro, AIPTEK International, DCS Systems Ltd, and Qrontech Co. Ltd. In December 2018, Netradyne, a leader in Artificial Intelligence (AI) technology has announced a partnership with HYUNDAI MNSOFT. Hyundai Motor Group subsidiary is the global provider of embedded navigation and related stuffing for Hyundai-Kia vehicles.
