Portland, OR -- (SBWIRE) -- 09/11/2017 -- The global Vehicle Camera Market is expected to reach $7,567 million by 2022 according to a report published by Allied Market Research. The market is anticipated to exhibit a compound annual growth rate of around 15%. The vehicle camera market has found a large audience in the recent years. Cameras attached to automobiles can capture the interior as well as exterior images. They can also be used to gather legal evidence in the case of theft and damage.

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The report is a compilation of data acquired from intensive primary and secondary research carried out by core industry experts and analysts using analyst tools and models. It includes the factors that boost or limit the growth of the market and the wide range of opportunities available for future investors. The information regarding the top impacting factors, winning strategies, and the most lucrative investment pockets in the global vehicle camera market are a part of the report.

Porter's Five Forces Analysis highlights the impact on the global market caused by the buyers, suppliers, new entrants, substitutes, and the intensity of competitive rivalry in the market. The rivalry amongst the competitors is high due to the absence of major players and the low cost of switching involved. The wide range of products available increases the threat of substitutes. New entrants pose moderate threats due to low switching costs and high capital investments. The number of buyers is less as compared to the number of suppliers in the global vehicle camera market. Some manufacturers in the automobile industry produce in-house vehicle cameras, thus plummeting the negotiating powers of the suppliers. The bargaining power of the buyers is high due to an increase in the availability of substitutes and also the concentrated buyers in the market.

The global vehicle camera market is growing owing to the increasing need for safety of vehicles and passengers on roads and parking areas. In the case of accidents, vehicle cameras ease the insurance claiming process by providing legal evidence in the form of images. The uses of vehicle cameras range from the entertainment industry to ambulances, fire rescue vehicles, sports vehicles and others. The advancement in technology will open up a wide array of opportunities for potential investors in the market. The increasing need for privacy and the stringent government regulations imposed hinders the growth of the global vehicle camera market.
The global vehicle camera market is segmented based on price, end-users, and the geography. The vehicle cameras are classified into affordable, mid-range, and high-range cameras based on their cost. These cameras are mainly used in the private sector, commercial sector, and the government and defense sector. Geographically, the presence of the market in North America, Europe, Asia-Pacific, and LAMEA are studied and presented in the report.

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The leading players in the market include Qrontech Co. Ltd., DCS Systems Ltd., Aiptek International, Gopro Inc., Garmin International Inc., Transcend Information, Inc., Pittasoft Co. Ltd., Hyundai MnSOFT, Will Industrial Ltd., and Papago Inc. The report has profiled the key players, the business segments they operate in, and the developments that have taken place in their sector.

Key points to be considered:

- The report provides an in-depth analysis of the estimated revenues generated by the vehicle cameras in different business verticals as well as major geographies.

- The private end-user segment which dominated the market in 2015, will be superseded by the commercial sector in the forecast period.

- The Asia-Pacific vehicle camera market is expected to grow at the highest CAGR during 2014–2022.

- The report provides qualitative and quantitative trends which are useful to the relevant stakeholders of the global vehicle camera market.