Market Research Report
Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||945273|
|Published||Content info||105 Pages
Delivery time: 2-3 business days
|Vetronics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: June 18, 2020||Content info: 105 Pages||
The global vetronics market grew at a CAGR of around 5% during 2014-2019. Vetronics, or vehicle electronics, refers to the collection of various electronic subsystems within an automobile. It is primarily used by military units to integrate systems, such as communication, command, navigation, surveillance and vehicle health management. It consists of various automotive electronic technologies, such as autonomous driving, sensors and secure communications systems. These systems are integrated with battle tanks, and light-protected, armored and infantry fighting vehicles. They are also equipped with sophisticated technologies, such as HD video calling, advanced threat detection sensors, high bandwidth networking and portable power systems.
Significant growth in the automotive industry is one of the key factors driving the growth of the market. Furthermore, the increasing focus of military and defense services on enhancing their situational awareness is also providing a boost to the market growth. Owing to the rising concerns regarding geopolitical unrest and cross-border security, along with increasing instances of border breaching, there is widespread adoption of vetronics for improving inter- and intra-vehicle communications, surveillance and navigation. Additionally, various technological advancements, including the emergence of wireless communications technology and increasing modernization of military vehicles, are also creating a positive impact on the market. For instance, unmanned vehicles (UMV) and drones are used for surveillance purposes, along with various commercial applications, such as capturing images and videos of sporting events and cityscapes. Other factors, including the availability of cost-effective components and increasing government investments in the defense sector, are projected to drive the market further. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2020-2025.