Vehicle Surveillance Market Size, Share, Industry Trends and Forecast to 2030

1. Market Size & CAGR of Vehicle Surveillance Market in 2021

The global vehicle surveillance market had a market size of USD 10.5 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 8.3% from 2021 to 2026. The market is projected to reach USD 18.6 billion by 2026, indicating significant growth and opportunities in the sector.

2. COVID-19 Impact on the Vehicle Surveillance Market

The COVID-19 pandemic has had a mixed impact on the vehicle surveillance market. While the initial onset of the pandemic led to a temporary slowdown in the market due to disruptions in supply chains and decreased demand, the market quickly rebounded as the need for enhanced security and surveillance systems grew amidst the pandemic.

3. Vehicle Surveillance Dynamics

The vehicle surveillance market is driven by factors such as increasing concerns about vehicle safety and security, rising instances of vehicle theft and vandalism, and the implementation of stringent regulations related to surveillance and security in vehicles. Technological advancements in surveillance systems, such as the integration of AI and IoT, are also contributing to the growth of the market.

4. Segments and Related Analysis

The vehicle surveillance market can be segmented based on the type of surveillance system, vehicle type, and end-user. The key segments include CCTV surveillance systems, dash cameras, and GPS tracking systems. Passenger vehicles, commercial vehicles, and public transport vehicles are among the prominent vehicle types in the market. End-users of vehicle surveillance systems include individual vehicle owners, fleet operators, and government agencies.

5. By Region Analysis

The vehicle surveillance market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe account for a significant share of the market due to the high adoption of advanced surveillance technologies in vehicles. The Asia Pacific region is witnessing rapid growth in the market due to increasing vehicle sales and a focus on enhancing vehicle safety.

6. Key Market Players and Competitive Landscape

Key players in the vehicle surveillance market include Bosch Security Systems, Honeywell International Inc., FLIR Systems Inc., Hangzhou Hikvision Digital Technology Co., Ltd., and Denso Corporation. These companies are focusing on product innovation, partnerships, and acquisitions to strengthen their market position and expand their product portfolio.

7. Recent Happenings in the Vehicle Surveillance Market

In recent developments, Bosch Security Systems introduced a new range of vehicle surveillance cameras with advanced features such as night vision and motion detection. FLIR Systems Inc. announced a partnership with a leading automaker to integrate thermal imaging technology into vehicles for enhanced surveillance capabilities. These developments highlight the growing importance of vehicle surveillance in ensuring vehicle safety and security.