The diverse benefits offered by vehicle cameras have led to the
robust growth of the global vehicle cameras market as per
Transparency Market Research (TMR). In its latest report, titled
“Vehicle Cameras Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2014 - 2020,” TMR has pegged the global
vehicle cameras market to exhibit a CAGR of 11.3% between 2014 and
2020.
According to the report, the market stood at US$595.3 mn in 2013 and
is expected to reach US$1,259.2 mn by 2020. Favorable policies and
encouragement by insurance companies towards the installation of
vehicle cameras have been primarily boosting the global vehicle
cameras market. The most prominent names in the automobile industry
are collaborating to design and develop advanced vehicle cameras with
superior features like night vision. Such developments are likely to
influence sales of vehicle cameras positively in the forthcoming
years.
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The report studies the prospects for the vehicle cameras market
globally, based on which it also presents refined projections for the
market’s growth. It assesses the global vehicle cameras market
based on end-use segments, price, and geography.
In terms of price, the report has classified the market into
high-end, mid-range, and affordable segments. Of these, the demand
for mid-range vehicle cameras, priced above US$200, has been
increasing at a rapid pace. Holding a share of 41%, this segment
dominated the market in 2013. The availability of advanced features
in mid-range vehicle cameras at an affordable price has been crucial
in boosting demand from the segment. Despite being the cheapest in
the lot, a lack of adequate features has resulted in low demand for
affordable vehicle cameras.
By end-use application, the global vehicle cameras market has been
segmented into transport vehicles, government and defense vehicles,
private vehicles, and others such as fire rescue, sports, and
healthcare. In 2013, cameras for private vehicles accounted for the
dominant share of 35.2% in the market. The segment is expected to
continue leading the market through the forecast period due to the
rising demand for private vehicles in the U.S. and Australia.
Regionally, Europe accounted for the largest share of 44% in the
global vehicle cameras market in 2013. While the market has witnessed
considerable growth in the region, especially in Russia and the U.K.,
the Asia Pacific market is expected to report the fastest CAGR of 12%
during the forecast period. The growth witnessed in this region will
be contributed by the increasing demand for vehicle cameras across
Australia, South Korea, Taiwan, and China. The report presents a
granular analysis of the various factors influencing the market’s
growth across the regional segments.
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To study the prevailing competitive landscape, some of the most
prominent enterprises operating in the market have been profiled in
the report. These include Garmin International, Inc., Pittasoft Co.,
Ltd., Transcend Information, Inc., Hyundai MnSOFT, Qrontech Co., Ltd.
(Lukas), and others.
About Us :
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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