Under Vehicle Surveillance Market Research Report- Global Forecast 2027

Under Vehicle Surveillance Market, By Type (Fixed, Portable), By End-users (Military & Defense, Commercial) - Global Forecast 2027

ID: MRFR/AM/2933-HCR | February 2021 | Region: Global | 100 pages

Under Vehicle Surveillance Market Synopsis: 


Under vehicle surveillance market is expected to reach approximately USD 10 billion by the end of 2023 with 13% CAGR during forecast period.


The factors contributing to the growth of the under vehicle surveillance market are growing due to  favorable government regulations in several countries, increasing demand for premium cars equipped with vehicle surveillance systems and wide range of benefits of under vehicle surveillance systems. Furthermore, factors such as high penetration of vehicle surveillance in developing countries and various solutions offered by vehicle surveillance as a software are expected to boost the growth of the under vehicle surveillance market over the forecast period, 2017-2023.However, complexity, high cost of systems regulations and technological advancements in autonomous car are the factors hampering the growth of the overall market.  


The global under vehicle surveillance market is highly competitive. Various established international brands, domestic brands and as well as new entrants form a competitive landscape. The key players are nonstop increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. The under vehicle surveillance market is highly competitive due to the presence of several large vendors.


The key players in the global under vehicle surveillance market include- Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Honeywell Security Group (U.S.), COMM-PORT Technologies (U.S.), Law Enforcement Associates (U.S.), SecuScan (Germany) and Hangzhou Hikvision Digital Technology Co. Ltd. (China) among others.


Regionally, North America accounted for the largest market share from countries such U.S. and Canada among others. The reason is attributed to growing demand for high-end technology solutions, increasing R&D happening in this region, changing in buying pattern, positive trends in the economy growth and growing awareness towards vehicle safety. However, Asia Pacific is expected to grow over the forecast period, 2017-2023. The reason is attributed to presence of large number of manufacturers and the increasing concerns regarding safety and security.


The global under vehicle surveillance market can be bifurcated as type, end-users and region. On the basis of type, the market can be segmented as fixed and portable. Out of these, portable segment accounted for the largest market share majorly due to growing demand for inspection of the undersides of road vehicles. However, fixed segment is expected to grow at a steady rate over the forecast period, 2017-2023.


Global Under Vehicle Surveillance Market Under Vehicle Surveillance Market

The global under vehicle surveillance market is expected to reach approximately USD 10 billion by the end of 2023 with 13% CAGR during forecast period 2017-2023.


Segments For the purpose of this study, Market Research Future has segmented the market of under vehicle surveillance into type, end-users and region.


Type



  • Fixed

  • Portable


End-users



  • Government

  • Commercial

  • Energy plant entrances

  • Military & Defense

  • Others


Region



  • North America

  • Europe

  • Asia Pacific

  • Rest of the World


Intended Audience



  • Device manufacturers

  • Network Operators

  • Distributors

  • Suppliers

  • Research firms

  • Software Developers

  • Commercial Banks

  • Vendors

  • Government Agencies

  • Vendors

  • End-user sectors

  • Technology Investors



Report Scope:
Report Attribute/Metric Details
  Market Size   2023: USD 10 Billion
  CAGR   13% CAGR (2020-2027)
  Base Year   2018
  Forecast Period   2020-2027
  Historical Data   2017
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By End-users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Delphi Automotive PLC (U.K.), Robert Bosch GmbH (Germany), Continental AG (Germany), DENSO Corporation (Japan), Honeywell Security Group (U.S.), COMM-PORT Technologies (U.S.), Law Enforcement Associates (U.S.), SecuScan (Germany) and Hangzhou Hikvision Digital Technology Co. Ltd. (China)
  Key Market Opportunities

  • Increasing concerns regarding safety and security.
  • Favourable government regulations in several countries
  • High penetration of vehicle surveillance in developing countries and various solutions offered by vehicle surveillance as a software
  •   Key Market Drivers   Growing demand for high-end technology solutions, growing R&D, change in pattern of buying, economy growth and spreading awareness towards vehicle safety


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    Frequently Asked Questions (FAQ) :


    Robert Bosch GmbH (Germany), Delphi Automotive PLC (U.K.), DENSO Corporation (Japan), Continental AG (Germany) are the top prominent players of the market.

    2017-2023 is the growth period of the market.

    Regionally, North America accounted for having the largest market share globally.

    The growing demand for high-end technology solutions, growing R&D, change in pattern of buying, economy growth and spreading awareness towards vehicle safety are the factors fueling the market’s growth.

    The market will be valued at a valuation of USD 10 billion by the end of 2023.