Vehicle
cameras are video recording devices fixed in vehicles for real-time
recording from the windshield. These cameras are usually installed on
the dashboard or fixed on the windshield using a vacuum cup or
adhesive tapes. Vehicle cameras are equipped with memory cards and a
display screen. The power required for the camera is supplied from
the vehicle battery or a dedicated built-in battery in the camera.
Vehicle cameras connected with the vehicle batteries, start recording
when the vehicle ignition is switched on. Some of the vehicle cameras
are equipped with different superior features such as integrated
global positioning system (GPS), G-sensor, loop recording and others.
Additionally, vehicle cameras are available with high-quality night
recording which enable video recording during low light.
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Vehicle
cameras offer various advantages for private as well as commercial
transportation vehicle owners. Video footage recorded from these
cameras can be used as evidence in different cases such as insurance
claims, fake accidents and other fraud cases. Most users of the
vehicle camera utilize these cameras to record their trips, stunts
and other outdoor events. Another significant factor boosting the
demand for vehicle cameras is the availability of numerous camera
model options. Most of the vehicle cameras available in the market
provide high-quality video recording with a solution of 1080p.
Furthermore, the vehicle cameras market is expected to be
significantly supported by factors such as encouragement for
installation of vehicle cameras from governments’ regulations and
plans for automotive safety. This is expected to boost the demand for
vehicle cameras in the mid-term of the forecast period. Some of the
insurance companies also offer discounts on vehicle insurance for the
vehicles equipped with vehicle cameras. However, the demand for
vehicle cameras is hampered by restrictions on the installation of
vehicle cameras and video shooting in public places. This largely
pertains to European countries such as Germany, Sweden, Austria and
Switzerland.
The
market for vehicle cameras is segmented on the basis of price,
end-use applications and geographic regions. Based on the price,
vehicle cameras market is further divided into affordable, mid-range
and high-end vehicle cameras. Among these, mid-range vehicle cameras
segment led the global vehicle cameras market with highest revenue
share in 2013. This was mainly due to the high return on investment
provided by these cameras. Mid-range vehicle cameras provide numerous
features as compared to the affordable cameras and are cheaper than
the high-end cameras. This makes mid-range vehicle cameras preferable
over high-end and affordable vehicle cameras. Affordable cameras are
cheaper as compared to the mid-range and high-end cameras. However,
due to their having fewer features, affordable vehicle cameras are
experiencing low demand.
In
2013, Europe held the largest market share and accounted for 44% of
the global vehicle cameras market. This growth was attributed to the
high adoption of these cameras in Russia and the U.K. The vehicle
cameras market is expected to witness the fastest growth in Asia
Pacific during the forecast period. This is due to rapidly growing
demand for these cameras in countries such as Australia, South Korea,
China and Taiwan. Japan is among the earliest adopters of the vehicle
cameras in the Asia Pacific vehicle cameras market.
The
major companies in the global vehicle cameras include Qrontech Co.
Ltd. (Lukas), DCS Systems Ltd. (RoadHawk UK), AIPTEK International,
Inc., GoPro, Inc., Garmin International, Inc., Transcend Information,
Inc., Pittasoft Co. Ltd., Hyundai MnSOFT and S.Will Industrial Ltd.
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