Published on : Sep 07, 2016
The global vehicle cameras market is growing significantly across the globe. At present, the primary focus of key manufacturers is on heavy vehicles. Thanks to the improved technology and infrastructure, manufacturers are able to direct their focus from small commercial vehicles to heavy vehicles to increase the sale of their vehicle cameras. Considering the growing demand, governments of many nations are focusing on increasing their contribution towards the production of technically advanced vehicle cameras.
Why is the demand for vehicle cameras increasing?
- Vehicle cameras offer many advantages to owners of commercial and private transport vehicles. Primarily, vehicle cameras are fitted on the dashboard or near the inside mirror and are used as evidence in numerous cases such as fake accidents, robbery, fraud cases, insurance claims, and even theft.
- The number of vehicle thefts and burglary has increased over the past few years. This has boosted transport departments to mandate the installment of vehicle cameras.
- Many enthusiast tourists use vehicle cameras to record their trips, outdoor events, and even stunts.
- The availability of various camera options is another reason why their demand is consistently increasing across many regions.
- Insurance companies refer to the footage recorded in the vehicle cameras to approve the insurance claims.
What would concern the global vehicle cameras market?
Currently, the global vehicle cameras market is one of the most promising markets in the global technology and media industry. However, the market for vehicle cameras is expected to be affected by the growing restrictions on installing cameras in vehicles and shooting videos in public places. Advancements in the technology have also increased the costs of sophisticated devices, which is another factor predicted to hamper the growth of the global market for vehicle cameras.
Looking at the growing demand for cameras for small commercial and private transport vehicles, manufacturers are now targeting the heavy commercial vehicles. Private vehicles, government vehicles, defense vehicles, and transport vehicles are being targeted by key manufacturers. The demand for mid-range vehicles is expected to increase in the coming years.