Global Under Vehicle Surveillance Market

Under Vehicle Surveillance Market Size, Share, Growth Analysis, By Technology(Hardware, Software and Services), By Vehicle(Passenger Vehicle and Commercial Vehicle), By Type(Fixed/Static Under-Vehicle Surveillance System and Portable/Mobile Under-Vehicle Surveillance System), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45F2140 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 85 | Figures: 69

Under Vehicle Surveillance Market News

  • In July 2023, ZF debuted its highly anticipated ZF ProAI supercomputer at the German IAA 2022. The system offers the most recent defense against cyberattacks by giving cars of any automation degree access to specialized processing power. It is outfitted with control units with sensors, software, and actuators made for software-defined vehicles.
  • In June 2023, Car Connectivity Consortium (CCC) Digital Key version 3.0 compliant system-on-chip solution for safe car accessibility has been launched by STMicroelectronics to speed up the introduction of digital car keys that allow customers to access keyless vehicles via smartphones.
  • In April 2023, The development of the wireless digital key system in collaboration with Giesecke+Devrient GmbH was announced by Alps Alpine Co., Ltd. The system that was created in partnership with Giesecke+Devrient complies with global CCC requirements.
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Under Vehicle Surveillance Market size was valued at USD 10 billion in 2023, USD 11.30 billion in 2024 and is projected to grow USD 26.58 billion by 2031, growing at a CAGR of 13% in the forecast period (2024-2031).

Major players like Magna International, Continental AG, Robert Bosch GmbH, Advantech Co., Ltd, IEI Integration Group, Innotech Solutions Pte Ltd, Shyam Networks, and W.W. Grainger, Inc. have a considerable impact on the under vehicle surveillance system market landscape. These organisations contribute a wide range of technologies and specialised knowledge that is essential to the development and application of vehicle surveillance systems around the world. 'Law Enforcement Associates (US)', 'Continental AG (Germany)', 'Iveda Solutions, Inc. (US)', 'Delphi Automotive PLC (UK)', 'Pedvak Technologies Pvt. Ltd.(India)', 'Honeywell Security Group (US)', 'Robert Bosch GmbH (Germany)', 'DENSO Corporation (Japan)', 'COMM-PORT Technologies (US)', 'SecuScan (Germany)', 'Hangzhou Hikvision Digital Technology Co. Ltd. (China)', 'International Road Dynamics Inc. (Canada)', 'Magna International (Canada)'

These technologies, which are largely driven by the growing need for GPS tracking and real-time surveillance, are crucial for improving vehicle security as well as for streamlining fleet management procedures. While GPS tracking provides precise vehicle position tracking, real-time surveillance guarantees prompt incident reaction, which lowers theft rates and boosts operational effectiveness.

Making Security Innovation for Strategic Differentiation: The market for Under Vehicle Surveillance (UVS) is a dynamic and quickly developing area that is essential to improving security protocols in a variety of sectors. Market share positioning tactics become increasingly important for organizations operating in this field as technology advances. UVS suppliers use differentiation through technical innovation as one of their primary strategies. Businesses that make R&D investments to build innovative under-vehicle monitoring systems stand to benefit from a competitive advantage.

The reasons for this domination include the highly developed infrastructure of technology, the high level of consumer awareness regarding car safety, and the strict regulations that encourage the use of vehicle surveillance systems in the US and Canada. Leading industry players and creative startups are present in the area, which strengthens North America's position as the industry leader. The need for car surveillance systems is driven by the introduction of advanced driver assistance systems (ADAS) technology and a strong emphasis on safety standards in Europe, which follows. Robust government programmes geared towards improving road safety and curbing vehicle theft are advantageous for the European market and foster market expansion.

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Global Under Vehicle Surveillance Market

Report ID: SQMIG45F2140

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