Market Research Future Insights
Under vehicle surveillance market is expected to reach approximately USD 10 billion by the end of 2023 with 13% CAGR during forecast period..
Under-vehicle surveillance refers to the use of cameras, scanners, or other sensors to monitor and inspect the underside of vehicles for security purposes. This can include detecting the presence of explosives, drugs, or other illegal or dangerous materials that may be hidden on the underside of a vehicle. Under-vehicle surveillance systems are commonly used at border crossings, military bases, and other high-security locations.
Key Players
Some of the key market players are Delphi Automotive PLC, Robert Bosch GmbH, Continental AG, DENSO Corporation, Honeywell Security Group, COMM-PORT Technologies, Law Enforcement Associates, SecuScan and Hangzhou Hikvision Digital Technology Co. Ltd.
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The cameras capture images of the undercarriage of the vehicle for manual or automated visual inspection by security personnel or systems. The growing need for appropriate security measures is a principal driver affecting positive growth for the global under vehicle surveillance market.
The demand for security technologies, including under-vehicle surveillance systems, may have increased as a result of the pandemic, as people have become more concerned about safety and security in the face of increased uncertainty and potential threats.
The technology, however, is complex and systems regulations carry high costs thus hindering market growth. Moreover, the development and advent of autonomous vehicles are expected to slow the growth of the market down. However, a highly competitive landscape drives the market with various reputable market leaders, local & international brands, and new entrants. Research and development of innovative solutions are expected to offer new avenues for growth.
Market Segmentation
The Global Under Vehicle Surveillance market has been segmented into type, and end user.
Based on the type, the market has been segmented into Fixed, Portable.
Based on the end user, the market has been segmented into Military & Defense, and Commercial.
Regional Analysis
North America has had the largest market share in terms of high-end technology solutions and vehicle safety, amongst other reasons. This is largely due to the increasing number of R&D labs and growing awareness in countries such as the U.S. and Canada.
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