Vehicle Surveillance System Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By End-User Industry (Military And Defense, Government, Energy And Power, Automotive, Others), And By Geography - Forecasts From 2022 To 2027

The global vehicle surveillance systems market is projected to grow at a CAGR of 8.78% to reach a value of US$26.485 billion by 2027, from US$14.692 billion in 2020.

There are an increasing number of security concerns among the various end-user industries such as government, military & defense, among others, and consumers in order to maximize the security of their vehicles and buildings, which is encouraging the adoption of solutions such as vehicle surveillance solutions to facilitate the compliance with strict and restricted access security measures to keep the vehicles as well as the buildings safe, thus leading to a surge in the market growth over the forecast period. The increasing cases of vehicle thefts are increasing the adoption of in-vehicle surveillance systems in order to improve the security of vehicles and prevent theft. Thus, this factor is also contributing to the market’s growth. In addition, the increasing number of accidents on the roads due to driver’s inappropriate behavior and improper driving is resulting in serious deaths and injuries to the occupants as well as the pedestrians, people are increasingly preferring to use in-vehicle surveillance systems, thus driving the market growth.

Product offerings by key players

Furthermore, the players are increasingly involved in the market by offering products with advanced features in order to boost the adoption of vehicle surveillance solutions to increase their market share and contribute to market growth over the forecast period. Advantech offers two products called the “TREK-134” and the ‘TREK-164” and some other products in their TREK product lineup. The TREK-134 is a blind-spot detection module, which is an in-vehicle surveillance solution that makes use of technologies such as image recognition and algorithms with real-time audiovisual alarm notifications to alert the driver in case of potential collisions. It is designed for the basic purpose of being used in trucks, buses, and heavy-duty fleet vehicles. Other premium features include an AHD 720p camera with an angle of 180° with a wide-angle view so that it facilitates the detection of moving objects, which include pedestrians, cyclists, and people on motorcycles, and also supports HDR imaging to improve the quality of images in any environment.

On the other hand, the TREK-674 is a module designed to be compact and of vehicle grade, with a dual-core computing box, designed for the purpose of providing high-quality video surveillance and fleet management for a variety of vehicles such as ambulances, police cars, fire engines, and buses. Some of the other features include support for a variety of vehicle protocols for recording driver behavior and management. supporting 8-channel cameras, a USB port, and reliable on-road recording and remote monitoring.

Military and Defense to hold a significant share and contribute to the market growth

The military and defense industry is estimated to hold a significant share of the market and contribute to the market growth over the forecast period. This is due to the fact that there is an increasing need for security and compliance in this industry, which requires all vehicles entering any military or defense facility to be screened and analyzed thoroughly to ensure there are no potentially harmful materials in the vehicle capable of causing harm in the war on increasing terrorist attacks and activities.

The Asia Pacific region is to show considerable growth over the forecast period

Geographically, the global vehicle surveillance system is segmented into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is expected to hold a noteworthy market share and grow at a significant pace over the forecast owing to the well-developed military and defense sectors in countries such as the US. In addition, the rapid industrialization and urbanization in this region are rising, resulting in the construction of more government facilities and organization buildings, which require more top-of-the-class security measures. The Asia Pacific region is estimated to show considerable growth and increase its share over the forecast period, which is attributable to the fact that there are increasing investments and initiatives being taken by the government and automakers to boost the production of autonomous and connected cars in countries such as China and India to accelerate the development of the automotive sector. Hence, this is pushing the demand for vehicle surveillance systems across this region.

Market Developments

• In October 2021, Eagle Eye Networks, a leading global company in cloud video surveillance, introduced the Vehicle Surveillance Package (VSP) for the Eagle Eye Cloud VMS, which takes vehicle information from dispersed cameras and license plates and delivers it to the cloud to be evaluated for safety measures. Users may search for automobiles across different websites and examine them fast with the video playback option.
• In October 2020, Eagle Eye Networks secured $40 million in Series E investment from venture capital company Accel to expand its technical leadership and continue its expansion. Eagle Eye is reshaping video surveillance and ensuring customer service, operations, and safety, for organizations all around the world by utilizing artificial intelligence on its real cloud platform.

Vehicle Surveillance System Market Scope:

Segmentation

• By Vehicle Type
  • Passenger Vehicle
  • Commercial Vehicle
• By End-User Industry
  • Military and Defense
  • Government
  • Energy and Power
  • Automotive
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others