Vehicle Cameras (Affordable, Mid-range and high-end Vehicle Cameras) Market
Vehicle Cameras (Affordable, Mid-range and high-end Vehicle Cameras) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
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 connected with the vehicle batteries, start recording when the vehicle ignition is switched on. Some of the vehicle cameras are equipped with different superior features such as integrated global positioning system (GPS), G-sensor, loop recording and others. Additionally, vehicle cameras are available with high-quality night recording which enable video recording during low light.
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. Most users of the vehicle camera utilize these cameras to record their trips, stunts and other outdoor events. Another significant factor boosting the demand for vehicle cameras is the availability of numerous camera model options. Most of the vehicle cameras available in the market provide high-quality video recording with a solution of 1080p. Furthermore, the vehicle cameras market is expected to be significantly supported by factors such as encouragement for installation of vehicle cameras from governments’ regulations and plans for automotive safety. This is expected to boost the demand for vehicle cameras in the mid-term of the forecast period. Some of the insurance companies also offer discounts on vehicle insurance for the vehicles equipped with vehicle cameras. However, the demand for vehicle cameras is hampered by restrictions on the installation of vehicle cameras and video shooting in public places. This largely pertains to European countries such as Germany, Sweden, Austria and Switzerland.
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. Affordable cameras are cheaper as compared to the mid-range and high-end cameras. However, due to their having fewer features, affordable vehicle cameras are experiencing low demand.
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.
Vehicle cameras are the digital video recording devices typically attached to the dashboard or windshield of various vehicles. These devices are designed to record real-time videos of both the insides and outsides of the vehicles. This helps private as well as commercial vehicle owners avoid any false accidents cases and claims. In addition, video footage obtained from these cameras can be used as evidence for legal proceedings regarding accidents or other road incidents. Vehicle cameras are categorized by their price, end-user applications and geographic regions. The demand for vehicle camera is largely driven by the numerous advantages offered by these cameras, especially when used in the context of accidents and evidence. In addition, most vehicle cameras are equipped with features such as global positioning system (GPS), G-sensors, loop recording and high-quality day and night video recording. With rising dependence on video surveillance for safety purposes, the demand for vehicle cameras is expected to soar substantially during the forecast period. Furthermore, various nations are focused on implementing automotive safety plans and regulations. Vehicle cameras are part of most automotive safety plans and regulations. This is expected to significantly boost the demand for vehicle cameras during the forecast period. Additionally, some insurance companies offer discounts on automotive insurance for vehicle owners who have installed vehicle cameras in their vehicles. This is due to the fact that video recordings from these cameras help insurance companies to tackle false claims.
The research report on vehicle cameras market provides the current scenario as well as the future market potential for vehicle cameras, globally. The market for vehicle cameras has been segmented into four major end-use applications: government and defense vehicles, private vehicles, transportation vehicles and others. The other vehicles segment includes ambulance, vehicles for fire department and sport vehicles. The market for these vehicle cameras has been extensively analyzed on the basis of price of vehicle cameras and geographic regions. On the basis of price, the market has been segmented into affordable, mid-range and high-end vehicle cameras. The market size and forecasts in terms of revenue (US$ Mn) for each of these segments have been provided for the period 2012 to 2020, considering 2012 and 2013 as base years. The report also provides the compounded annual growth rate (CAGR) for each segment of the market for the forecast period 2014 to 2020.
Geographically, the market for vehicle cameras has been segmented into five regions: North America, Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). The market size and forecast for each region has been provided for the period 2012 to 2020 along with the CAGR (%) for the forecast period from 2014 to 2020. The study also includes qualitative analysis of the competitive scenario in these regions. The overview section of the report comprises qualitative analysis of the overall market highlighting the factors determining the market dynamics such as drivers, restraints and opportunities, along with market attractiveness analysis and value chain analysis. The overview section includes the current trends in the vehicle cameras market.
The report also provides a section on the competitive landscape, wherein the market positioning analysis of leading players of the global vehicle cameras market, in 2013 has been discussed. The report concludes with the profiles of major players in the global vehicle cameras market such as 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.
The market has been segmented as follows:
Market Segmentation of Global Vehicle Cameras Market:
Vehicle Cameras Market, by Price
- Affordable (upto US$ 100)
- Mid-range (US$ 100 to US$ 200)
- High-end (above US$ 200)
Vehicle Cameras Market, by End-use Application
- Government and Defense Vehicles
- Private Vehicles
- Transportation Vehicles
- Others (Healthcare, Fire Rescue and Sports Vehicles)
Vehicle Cameras Market, by Geography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)