The Global Dashboard Camera Market Size was valued at USD3.83 Billion in 2021 and is expected to reach at a CAGR of 12.5% from 2022 to 2030. The global dashboard camera market share is estimated to cross USD 8.61 Billion by 2030. A dashboard camera is basically an onboard camera which is fixed on the front windscreen of the vehicles and sometimes at rear windows to record the view. This camera is used to prevent to face from accidents. The dashcam can easily be places to check the whole road ahead.
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MARKET OPPORTUNITIES: Favorable Initiatives About the Implementation of Dashboard Cameras
Faster insurance claims processing, increased protection against escalating car thefts, and increased awareness of vehicle safety are all factors contributing to industry growth. Dashboard cameras are used for both private and professional purposes, as well as by the police. An important aspect driving product demand is an increase in false vehicle accident claims for insurance and medical benefits. Additionally, it has been noted that insurance firms promote the installation of dashboard cameras in cars as a way to swiftly and accurately resolve insurance claims.
DRIVING FACTORS: Increasing Number of Road Accidents and Thefts to Drive the Market Growth
It is believed that two key initiatives they have done to improve their competitiveness in the market are the implementation of automated workflow in their manufacturing facilities and a decrease in the cost of R&D operations. Customers frequently use dashboard cameras for their regular trips in personal vehicles. However, the market growth has been significantly accelerated by the product's use in commercial vehicles for monitoring and safety purposes. As scalable deployment necessitates technology with higher resolution and more features, it has also accelerated the technological advancement of dashboard cameras. Currently, dashboard camera footage is allowed as evidence in insurance and liability cases.
In order to combat false insurance claims, insurance companies are encouraging the use of dashboard cameras by offering discounts on insurance premiums. Furthermore, since most dash cams are inexpensive and simple to install, personal vehicle users are leading the business. High-definition dash cam recording has become common since digital services have been implemented and widely standardised. However, standard definition dash cams are also an option, and because they are less expensive to produce and market, they dominate the dash cam market. The entry-level of the market has decreased and become more uniform globally as a result of technical advancements.
Implementation of Stringent Government Regulations and Increasing Insurance Frauds to Drive the Dashboard Camera Market Growth
Multiple-channel dash cams are popular right now because they offer front- and rear-view recording as well as in-cabin recording for some models. This allows for detailed and real-time monitoring. Additionally, the sector is growing in emerging nations like Brazil and India. Manufacturers perceive an opportunity as a result of the dramatic rise in vehicle traffic in emerging countries, as well as the corresponding accidents and frauds. The market for 2-channel dashboard cameras is anticipated to rise in response to the growing need for anti-theft measures. Thus, the demand for greater resolution dash cams is increasing as people and commercial fleet owners switch from their low-resolution DVRs to full HD or higher-resolution cameras.
Global Dashboard Camera Market Report Coverage
|Market Size in 2021:||USD 3.83 Billion|
|Forecast Period 2021-2030 CAGR:||12.5%|
|2030 Value Projection:||USD 8.61 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||170|
|Tables, Charts & Figures:||113|
|Segments covered:||COVID-19 Impact Analysis Report, By Technology, By Channel Type, By Distribution Channel, By Video Quality, By Region|
|Companies Covered:||Garmin, Ltd.; DigiLife Technologies Co., Ltd (HP, Inc.); Cobra Electronics Corporation, Pittasoft Co., Ltd; Panasonic Corporation|
|Growth Drivers:||MARKET OPPORTUNITIES: Favorable Initiatives About the Implementation of Dashboard Cameras.|
|Pitfalls & Challenges:||RESTRAINING FACTORS: Cybersecurity Concerns and Regulations May Restrain the Market Growth|
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RESTRAINING FACTORS: Cybersecurity Concerns and Regulations May Restrain the Market Growth
The emergency of connected cars as well as advanced driver assistance systems has improved the overall driving experience. Not only this but it has also made the driving system more secure. However, there are some cybersecurity threats which are prevailing in the market. Cybersecurity experts keep on critizing the dashboard cameras on its privacy concerns. They have commented on its security vulnerabilities which can lead to cyber-attacks or user data breaches.
Apart from this, the another factor which hinder the market growth is the strict laws which are imposed against dashboard cameras in different nations. The usage of these cameras can be banned by taking into consideration on different violation of privacy in various European nations like Switzerland, Belgium, and Austria. The violators are charge with heavy fines which can affect the market growth.
COVID 19 IMPACT: Increased Sales of Dashboard Cameras Market Growth Amid COVID-19
Nearly every industry was briefly impacted by or shut down during the COVID-19 pandemic. Nationwide lockdowns were imposed in a number of nations, severely limiting people's ability to leave their houses. Because individuals had to stay inside, the demand for dashboard cams was drastically reduced. With permission to only run core retail chains, the majority of automobile accessory outlet stores had been put on indefinite hold. The supply chain for the industry was adversely affected as a result. To counter the decline in sales, the manufacturers have started putting various tactics into practise.
GLOBAL DASHBOARD CAMERA MARKET: SEGMENTAL ANALYSIS
The global dashboard camera market is segmented into technology, channel type, application, distribution channel, video quality, and region.
Global Dashboard Camera Market, By Technology
Based on channel type, the global dashboard camera market is segmented into basic, advanced, and smart. Over 60% of all revenue in 2021 came from the basic technology segment, which is expected to continue to dominate the market during the projected period. Dash cameras, which have minimal features and technology, are now widely available owing to manufacturers, who have greatly cut the entry-level. These dash cams are reasonably priced and easy to install. Basic features are sufficient for the majority of clients. simple technology Because they are simple to use and produce at minimal cost, dash cams are more common in underdeveloped countries.
Global Dashboard Camera Market, By Channel Type
On the basis of channel type, the global dashboard camera market has been segmented into single and dual. Among these, the single channel type is anticipated to be the largest growing segment owing its cost effectiveness than dual channel, and maintenance and operational costs. Sales in this segment are very strong in developing nations. During the anticipated years, the rear-view product segment is anticipated to increase at the fastest rate. In 2021, the category had a significant industrial revenue. The single channel is expected to expand significantly as consumers start to favour dash cams that can also record the rear view.
Global Dashboard Camera Market, By Application
Based on application, the global dashboard camera market is bifurcated into personal vehicles and commercial vehicles. The personal vehicle application segment dominating the global market, accounting for more than 65.00% of total revenue. Since dashboard cameras are frequently simple to set up and operate, customers don't need to spend much time learning about the features before buying the product in-person or online. Dash cams makers have discovered a rich development opportunity as personal vehicles have become more widespread and more reasonably priced. Customers prefer dash cams for their private automobiles because dash cams provide video evidence for insurance claims in the majority of nations where having insurance is required.
Global Dashboard Camera Market, By Distribution Channel
The global dashboard camera market is segmented into online and in-store distribution channels. Among these, in-store segment holds the largest market share with the biggest revenue share of more than 60.00%. Due to the convenience of shopping provided by these stores, where customers can test products in-person and look for manufacturing flaws before purchasing, it is anticipated that the category will continue to hold the lion's share of the market throughout the projected period. Dash cams have traditionally been distributed through an in-store distribution channel.
Global Dashboard Camera Market, By Video Quality
By video quality, the global dashboard camera market has been segmented into HD and SD. Among these, SD quality segment is dominating the market with 60% market share. Throughout the projected period, the segment is expected to dominate the market. Because the high-definition in this section is not full HD, less storage space is needed. One of a dash cam's most crucial features is video quality because it can be crucial when it comes time to review the film. Customers that use dash cams in their cars choose SD video quality gadgets since they are less expensive and can record common events for insurance purposes, like number plates during collisions.
REGION STATISTICS: Global Dashboard Camera Market
On the basis of region, the global dashboard camera market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa and South America.
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Europe is dominating the market owing to the rising trend of dashboard cameras for insurance proof purposes as well as increasing demand of the consumer. Due of a high accident rate and hazardous driving conditions, dash cameras are widely used in vehicles in developing European nations like Russia. Dash cameras are prohibited from interfering with driving or being used as a means of disclosing private information about vehicles under the rules that apply to them in the majority of European countries. Additionally, it has been noted that European consumers adopted dash cameras more quickly than residents of other continents.
Recent Developments In The Global Dashboard Camera Market
- June 2021: Garmin has made an announcement about the launch of four new dashboard cameras having cloud connected storage.
- May 2020: Xiaomi has launched the Mi Smart Dashcam 2K which can record videos at the resolution of up to 1600p through the OV OS05A10 of the camera’s back illuminated image sensor.
List of Key Market Players
- DigiLife Technologies Co.
- Garmin Ltd.
- Cobra Electronics Corp.
- Panasonic Corp.
- Pittasoft Co., Ltd.
Segmentation Analysis of Dashboard Camera Market
By Channel Type
- Personal Vehicles
- Commercial Vehicles
By Distribution Channel
By Video Quality
By Region :
- North America, by Country
- North America, by Technology
- North America, by Channel Type
- North America, by Application
- North, America, by Distribution Channel
- North America, by Video Quality
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Technology
- Europe, by Channel Type
- Europe, by Application
- Europe, by Distribution Channel
- Europe, by Video Quality
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Technology
- Asia Pacific, by Channel Type
- Asia Pacific, by Application
- Asia Pacific, by Distribution Channel
- Asia Pacific, by Video Quality
Middle East & Africa
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Technology
- Middle East & Africa, by Channel Type
- Middle East & Africa, by Application
- Middle East & Africa, by Distribution Channel
- Middle East & Africa, by Video Quality
- South America, by Country
- Rest of South America
- South America, by Technology
- South America, by Channel Type
- South America, by Application
- South America, by Distribution Channel
- South America, by Video Quality
Frequently Asked Questions (FAQ)
What is the market size of the global Dashboard Camera market?As per Spherical Insights, the size of the Dashboard Camera Learning market was valued at USD 3.83 Billion in 2021 to USD 8.61 Billion by 2030.
What is the market growth rate of the global Dashboard Camera market?The global Dashboard Camera Learning market is growing at a CAGR of 12.5% during the forecast period 2022-2030.
Which region dominates the global Dashboard Camera market?Asia Pacific emerged as the largest market for Dashboard Camera Learning.
What is the significant driving factor for the Dashboard Camera market?An increase in the Number of Road Accidents and Thefts will influence the market's growth.
Which factor is limiting the growth of the Dashboard Camera market?Reliability and Privacy Issues could hamper the market growth.
What is an opportunity for the Dashboard Camera market?Favorable Insurance Policies will provide considerable opportunities to the market.
Who are the key players in the global Dashboard Camera market?Key players in the Dashboard Camera Learning market are ABEO Company Co.ltd, Amcrest Technologies, CNSLink Co.Ltd., Cobra Electronics Corporation, DOD Tec, Finedigital Inc., Garmin Ltd., DigiLife Technologies Co.Ltd. (Affirmed by HP Inc.), Lukas Dash Cam, Panasonic Corporation, Pittasoft Co.Ltd., Shenzhen Zhixinsheng Electronic Co.Ltd., Steelmate Co.Ltd., TourMate, WatchGuard Video (MOTOROLA SOLUTIONS), Waylens Inc., Nexar Inc.
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