The vehicle surveillance market revenue is expected to reach USD 22.4 billion in 2023 and USD 49 billion by 2033, a CAGR of 8.2%. Security, safety, and law enforcement concerns have made vehicle surveillance increasingly important in recent years.
Vehicle surveillance systems offer several benefits in the commercial vehicle industry, including improving fleet management, improving driver safety, decreasing theft, and optimizing operations.
Enhanced capabilities are provided by vehicle surveillance systems, thus extending the capabilities of military units. A smaller force can cover a greater area efficiently and reduce the amount of manpower needed for surveillance. Commercial vehicles typically are equipped with cameras, sensors, GPS tracking, and other technologies for monitoring and recording activity.
Drivers' behavior, vehicle performance, and route optimization can be analyzed through vehicle surveillance systems. Fleet operators can determine where improvements can be made, reduce fuel consumption, optimize routes, and improve overall operational efficiency through the analysis of this data.
Data collected by surveillance systems can be analyzed for training purposes and after-action reviews by various applications. By evaluating tactics and strategies and identifying areas for improvement, operational effectiveness can be enhanced.
Report Attribute | Details |
---|---|
Expected Market Value (2023) | USD 22.4 billion |
Anticipated Forecast Value (2033) | USD 49 billion |
Projected Growth Rate (2023 to 2033) | CAGR 8.2% |
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According to FMI, the vehicle surveillance industry expanded at a 9% CAGR between 2018 to 2022. Precision strikes can be conducted using these systems, which can gather visual and electronic intelligence and identify potential threats.
Military forces can conduct reconnaissance missions and acquire targets accurately by using vehicle surveillance systems with sensors, cameras, and other advanced technologies.
A surveillance system may be a good choice for vehicle owners who are interested in monitoring their personal safety and security. Children or pets left in vehicles can also be monitored using these systems, which deter theft, vandalism, and break-ins.
Cloud-based storage, high-definition cameras, and real-time monitoring have given these systems a boost. New opportunities for vehicle surveillance have arisen as connected vehicle technology is increasingly adopted.
In addition to transmitting real-time data, connected vehicles can also transmit video feeds to central monitoring systems, making it possible to monitor, manage, and respond proactively to incidents remotely.
In recent years, the market for vehicle surveillance systems has expanded as surveillance capabilities have been integrated with connected vehicles. Vehicle surveillance market revenues are expected to rise at a CAGR of 8.2% between 2023 and 2033, states FMI's analyst.
As public safety concerns rise and effective security measures are required, vehicle surveillance systems are in high demand. Criminal activities, such as theft, vandalism, and terrorism, are increasingly monitored and prevented by governments, law enforcement agencies, and organizations via advanced surveillance technologies.
Vehicle surveillance systems have been significantly improved by continuous advancements in surveillance technologies. Cameras with high resolutions, advanced video analytics, real-time monitoring, and cloud-based storage have improved vehicle surveillance. Increasingly, businesses and governments are seeking to enhance security by leveraging these technological advancements.
Transport infrastructure expansion has led to an increase in surveillance systems needed to ensure safety and security, such as road networks, airports, seaports, and railways. Modern transportation systems require vehicle surveillance in order to monitor traffic, detect accidents, manage parking lots, and prevent unauthorized access.
Vehicle surveillance systems are increasingly being adopted by industries such as retail, banking, hospitality, and logistics to ensure the safety of their employees, customers, and assets.
As a result of these systems, thefts are prevented, deliveries are monitored, fraud is prevented, and a safe working environment is created. As the commercial sector becomes more aware of the benefits of vehicle surveillance, the market has grown.
Public safety and security are being enhanced by governments around the world through stringent regulations and mandates. Public transportation, school buses, and emergency response vehicles must usually install surveillance systems in accordance with these regulations. Vehicle surveillance systems have become increasingly popular due to compliance with these regulations.
Investing in advanced surveillance systems, like in-vehicle video surveillance and automotive cybersecurity systems, can be expensive for some manufacturers. Vehicle surveillance systems can be hindered by the lack of standardization in the automotive industry, which can create compatibility issues between systems and vehicles.
Vehicle surveillance technologies are becoming more widely used, but they have raised concerns over privacy and data protection. Regional differences in regulations, consumer preferences, and technological infrastructure could limit the growth of the vehicle surveillance systems market.
The integration and implementation of vehicle surveillance systems become more complex as vehicles become more connected and technologically advanced, which could be a constraint for some manufacturers and consumers.
Stringent Government Policies and Traffic Rules to Expand the Market
Considering the growing automotive manufacturing industry in the country, vehicle surveillance will continue to be a major market. According to forecasts, the market is expected to reach USD 19.698 billion by 2033.
Security measures, crime prevention, and investigation are being improved through vehicle surveillance investments made by governments, law enforcement agencies, and private organizations. In addition to monitoring and recording activities around vehicles, surveillance systems can be used to identify suspects, gather evidence, or monitor high-risk areas.
Due to a growing number of vehicle policies and thefts in the United States, the vehicle surveillance market is expected to grow. Insurance claims and liabilities can also be reduced with vehicle surveillance systems. In addition to providing evidence for insurance claims and reducing fraudulent activities, surveillance cameras are also useful for fleet operators and individual vehicle owners to record incidents, accidents, and thefts.
United States is expected to hold a market share of 78% growing at a CAGR of 7% during the forecast period. Many commercial vehicles are monitored by surveillance systems to ensure driver safety, track routes, monitor routes, and prevent theft or unauthorized use, particularly by transporting and logistics businesses. With video surveillance solutions, fleet managers can monitor vehicles in real-time, track them remotely, and access live feeds from anywhere.
An information-gathering market survey was published by the Department of Transportation (DOT) and the Federal Aviation Administration (FAA) to seek industry feedback. It is being explored whether the government would like to upgrade its Teledyne FLIR Lightweight Vehicle Surveillance Systems (LVSS) on its southern border operating systems (OS). The DOT intends to upgrade to Windows 11 the operating system that runs this system which utilizes comprehensive internal system control software and a Windows 10 operating system.
Growing Demand for Traffic Control Monitoring Systems to Propel Growth in the Market.
With the growing adoption of digitization and the demand for CCTV surveillance, vehicle surveillance is expected to increase. The market share of vehicle surveillance is forecast to grow by 24.6% over the next few years.
Demand for vehicle surveillance will increase as China and India develop vehicle manufacturing plants in the market. China is expected to grow at a CAGR of 9.2% from 2023 to 2033. Traffic, parking areas, and public spaces are monitored with closed-circuit television cameras in the Asia Pacific region. Traffic management, crime prevention, and investigation can all be performed using video footage from these cameras.
Vehicle license plates are automatically captured and read using ANPR systems. By utilizing this technology, car thieves can be identified, wanted criminals can be tracked, toll collections can be managed, and traffic laws can be enforced. A number of countries across the Asia Pacific region have already implemented the use of ANPR systems.
Traffic flow in major cities is monitored and optimized with advanced traffic management systems. Traffic congestion, accidents, and road conditions are monitored using sensors, cameras, and data analytics. Using this data, traffic management can be improved and congestion can be reduced.
Technologies incorporated into ITS enhance safety, efficiency, and sustainability in transportation. A smart parking system includes real-time traffic monitoring, automated tolling, adaptive traffic signal control, and smart parking sensors. ITS is being actively implemented in many Asian countries in order to increase the efficiency of their transportation networks.
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Commercial Vehicle Segment is Expected to Account for the Majority of Revenue Share in the Global Vehicle Surveillance Market in 2023.
Commercial vehicles are predicted to grow at an 8.1% CAGR through 2033. Vehicle, driver, and cargo safety are becoming increasingly important to commercial fleet operators. Having an onboard surveillance system is helpful in preventing accidents, preventing theft, and providing evidence in case of an incident.
The installation of surveillance systems on commercial vehicles is required in many countries and regions. As a result of these regulations, road safety will be improved, driver behavior will be monitored, and evidence will be gathered in case of an accident or legal dispute. As a result of these requirements, vehicle surveillance systems have become increasingly popular.
Commercial vehicle operators who install surveillance systems may receive discounts or incentives from insurance companies. By reducing risks, lowering insurance premiums, and providing evidence for insurance claims, these systems can be beneficial to businesses. Fleet operators have therefore been driving the demand for vehicle surveillance systems.
Expanding Military and Defense Sectors in Various Regions To Grow Demand for Vehicle Surveillance Market
Military and defense are predicted to drive the vehicle surveillance market. According to market analysts, the market will grow at an annual CAGR of 8% from 2023 to 2033.
With enhanced situational awareness, vehicles provide real-time information on their surroundings, helping military personnel understand the battlefield more effectively. Making informed decisions and maintaining situational awareness requires information like friendly and hostile forces' locations, terrain analysis, and potential threats.
Vehicle surveillance enables the detection of potential threats, such as improvised explosive devices (IEDs), ambushes, and enemy movements, which allow military personnel and assets to be protected. With their ability to monitor the surrounding environment, these systems can provide early warnings and allow for timely response, reducing the risk of casualties and property damage.
Armed with surveillance systems that capture and analyze data related to enemy activities like movements, logistics, and communications, military vehicles can gather valuable intelligence. Using this information aids in the analysis of intelligence, aiding in the planning of missions, identifying targets, and enhancing the effectiveness of operations as a whole.
As a business, vehicle surveillance is dependent on the startup industry for creating opportunities. The stabilization of the market is a primary component of the expansion of this market as part of its expansion. The market share of vehicle surveillance is dominated by a few start-up companies.
Technology, products, and solutions are the only ways to maintain a leading position in the market. Global market consolidation can be attributed to the fact that a few key players control most of the market. A high level of market participation has been observed in the market because of the excellent scope of demand.
Some of the leading companies operating in the market are:
Market Developments:
Attribute | Details |
---|---|
Forecast Period | 2023 to 2033 |
Historical Data Available for | 2018 to 2022 |
Market Analysis | USD billion for value and Kilo Tons for Volume |
Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
Kay Segments Covered | Vehicle Type, End-User Industry, Region |
Key Companies Profiles | Magna International Inc.; Continental AG; Robert Bosch GmbH; Advantech Co., Ltd; IEI Integration Corp.; Innotec Solutions Pte Ltd.; Shyam Networks; W.W. Grainger, Inc.; Lanner Electronics Incorporated; EyeRide |
Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Customization & Pricing | Available Upon Request |
In 2023, North America is anticipated to hold 25% of the global market share.
Asia Pacific vehicle surveillance market is expected to be worth USD 124.6 billion by 2033.
In the market for vehicle surveillance, India is expected to experience exponential growth.
The demand for fleet management and rising crime rates are driving the sales of vehicle surveillance.
Rising interest in cloud-based platforms and artificial intelligence.
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