Vehicle surveillance is a system, designed for security measures of the vehicles and passengers. Vehicle surveillance is a prime aspect nowadays of protecting drivers and public safety. The vehicle surveillance is basically available in three types namely in vehicle surveillance, out vehicle surveillance, and under vehicle surveillance. These vehicle surveillance systems functions to record the events happened in the past, thereby offer security measures. The global vehicle surveillance market is mostly driven by the increasing demand at security areas, parking areas, vehicle tracking and toll collection centers. Vehicle surveillance is also used to check the hidden materials such as drugs, explosives etc. which are kept hidden in and around the vehicle parts. The high-resolution cameras capture clear images of the events even at night and thus offer the wide area of usage. The vehicle surveillance systems are available in permanent as well as portable versions which are used according to end-use demands. For instance, in heavy duty vehicles, a portable version with features of withstanding harsh environments proves cost effective solutions. The global vehicle surveillance market is expected to expand at significantly high CAGR in terms of volume during the forecast period owing to the increase in crime rates, vandalism etc.
Global Vehicle Surveillance Market: Drivers and Restraints
The vehicle surveillance provides effective measures for safety concerns while driving. The corporate companies’ offers cab services to its staff and requires proper surveillance system for security concerns of the employees. Factor such as an increase in the need for maintaining end to end vehicle management for these companies drives the global vehicle surveillance market. The high demand for real-time surveillance coupled with GPS tracking features drives the global vehicle surveillance market. The growing demand of transportation authority’s considering real-time surveillance systems to reduce the thefts and gets updates on situational problems on violence boosts the global vehicle surveillance market. Regional governments which are taking serious concerns on vehicle securities aids in driving the adoption of vehicle surveillance systems. However, technical issues of vehicle surveillance systems such as difficulty to detect in congestion traffic places with limitation in coverage area put forth challenges for the growth of global vehicle surveillance market.
Global Vehicle Surveillance Market: Region wise Outlook
The global vehicle surveillance market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). The vehicle surveillance market in North America region is robust in terms of usage since the region is equipped with the high end technology coupled with existence of strict regulations and penalty for crimes. The vehicle surveillance market in APEJ and MEA is expected to expand at healthy CAGR owing to the increasing crime rates and growing penetration of surveillance technology adoption.
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Global Vehicle Surveillance Market: Key Players
Some of the key players identified in the global vehicle surveillance market includes:
- Iveda Solutions, Inc.
- International Road Dynamics Inc.
- Pedvak Technologies Pvt. Ltd.
- SecureOne International BV.
- MATRIX Security & Surveillance Ltd.
- Visor Systems Ltd
- Eyetek Surveillance.
- STONKAM CO., LTD
- Howen Technologies Co. Ltd