VEHICLE CAMERAS MARKET ANALYSIS

Market Challenges And Opportunities

• Stringent government sanctions on vehicle Camera in European countries
• Limitations related to real-time image processing in surround view system

Global Vehicle Camera

Government encouragement for installation of vehicle Camera

To provide public safety from road accidents is a major concern for national governments worldwide. Thus, various governments are focusing on reducing road crimes and accidents by documenting the reason of the incidents and trying to avoid it in the future in order to enhance road safety. For instance, in February 2022, the U.S. Department of Transportation, endorsed a plan to achieve the goal of zero fatalities, including safety programs focused on infrastructure, human behavior, responsible oversight of the vehicle and transportation industry, and emergency response. The safe system approach incorporates principles such as Responsibility is Shared, Humans Are Vulnerable, Death and Serious Injuries are Unacceptable and other this initiative indeed will drive the growth of dash cams and other safety measures.

Wide range of vehicle Camera

Demand for Vehicle Camera depends upon the cost of installation, maintenance cost, robustness, and ease of installation. Therefore, key market players are providing a vast range of vehicle Camera to cater to varying demands of consumers. Manufacturers of vehicle Camera are focused on offering high video quality at the lowest possible prices. Vehicle Camera are available in a price range from US$ 20 to more than US$ 400. For instance, January 2023, Amazon launched a dashboard camera that can record both inside and outside of the vehicle, these is one of the many type of camera available in the market. There are many more types of cameras available in the market. These Cameras are available in different configurations named front-view, rear-view, and dual-view Camera. Due to all these factors vehicle Camera are affordable by all people. Thus, such factors are expected to propel the global vehicle Camera market growth over the forecast period.

Global Vehicle Camera

Partnership with automobile manufacturers

Vehicle Camera is expected to witness high demand in the near future, owing to increasing awareness regarding the usage of vehicle Camera in major countries worldwide such as U.S, Australia, Canada and others. Vehicle Camera are available as additional vehicle safety and security accessories. These Camera are purchased by the vehicle owners based on their needs. However, Vehicle Camera manufacturers are expected to find immense opportunities through partnerships with automotive manufacturers. For instance, in July 2020 ZF, the supplier of automotive cameras, has launched its S-Cam4.8 with enhanced vision technology from Mobileye, an Intel Company, on the new Nissan Rogue in the U.S. Governments of different countries are focusing on issuing regulations related to the mandatory usage of vehicle Camera in order to ensure public safety on roads.

Potential to grow in emerging markets

Vehicle Camera are popular in few countries such as Russia, South Korea, Japan, and others. Countries such as Australia, and the U.S. have stringent regulations and restrictions regarding automobile safety. Most of the recent regulations and automotive safety plans include clauses related to the installation of vehicle Camera in private and commercial vehicles. Thus, the penetration of vehicle Camera is expected to rise significantly in these countries during the forecast period.