The global dashboard camera market is projected to reach USD 8.89 billion by 2031, at a CAGR of 8.6%, from USD 4.23 billion in 2022. The dashboard camera market is expected to continue to grow in the coming years due to the increasing safety awareness, and easy insurance claims.
Dashboard camera, which first appeared in the early 2000s, were mostly used by police enforcement. Consumers desiring increased safety and security on the roads began to widely adopt it as a result of production costs falling and technological breakthroughs occurring over time. These cameras, also referred to as dashcams, were originally intended to capture video of auto accidents. However, they have now developed into multipurpose gadgets. Contemporary dashcams are equipped with wide-angle lenses, GPS tracking, night vision, and parking mode, among other cutting-edge capabilities. They also capture high-definition videos. Their attractiveness has been further increased by the incorporation of AI-powered features like collision detection and lane deviation warnings. Demand has soared in the market as a result of the increased focus on traffic safety, insurance benefits, and the requirement for trustworthy proof in court cases. Dashcams are used by business fleets in addition to individual drivers to watch over driver behavior and guarantee smooth operations. The dashboard camera market is growing since there is a wide selection of solutions available to suit different purposes and price points. In order to satisfy changing customer demands, manufacturers consistently innovate and integrate cutting-edge technology, cementing the dashcam’s position as an essential car accessory.
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In Jan 2023, Amazon.com Inc. introduced the Ring Car Cam at the CES consumer electronics show, nearly two years after its initial announcement. This addition marks Ring’s foray into the realm of dashboard cameras, expanding beyond its renowned doorbell cameras. The Ring Car Cam, designed to enhance video security for users while they are away from home, boasts dual-facing high-definition, wide-angle cameras equipped with night vision. These features aim to safeguard against break-ins and capture driving events.
In March 2023, Geotab and Lytx, both prominent players in IoT and connected transportation, have revealed the launch of the Surfsight™ integrated camera solution in the Geotab Marketplace. This marks the inaugural offering in Europe through the recently introduced Geotab Order Now program.
In May 2023, Nextbase has announced the upcoming launch of the Nextbase iQ, the next iteration of in-car security and driver assistance, scheduled for release in spring 2023. Additionally, in line with the previous disclosure of Vodafone providing connectivity in the UK, Nextbase has established a partnership with T-Mobile to deliver connectivity services for the product in North America.
In May 2022, Sensata Technologies has revealed that its recent acquisition, SmartWitness, is introducing groundbreaking modular flexibility to video telematics through the newly launched KP2 dashcam. This compact road-facing camera features a snap-on option for a driver-facing camera, allowing commercial fleets to effortlessly integrate driver-facing video at any point without the need for wiring modifications, additional installation expenses, or any operational downtime.
Segment Analysis and Market Dynamics
Based on application type, the global dashboard camera market is divided into personal vehicles, commercial vehicles, and law enforcement vehicles. The personal vehicles category dominates the market with the largest revenue share. Dashcams for personal vehicles cater to individual consumers seeking added safety, security, and documentation of their journeys. These cameras focus on user-friendly interfaces, compact designs, and features like parking mode, motion detection, and high-resolution video capture. They serve as evidence in accidents, protection against fraudulent claims, and offer peace of mind to drivers concerned about theft or vandalism. Integration with smartphone apps for easy footage access and sharing enhances their appeal.
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The key factor continues to be technological development, with ongoing gains in sensor capabilities, camera quality, and the incorporation of AI-driven features. These developments broaden the market appeal by introducing features like cloud connectivity, parking monitoring, and driver-assist technologies in addition to improving video quality. Market dynamics are greatly impacted by insurance incentives and regulatory changes. Dashcams laws that require them in some areas for insurance reasons or legal compliance are driving the market’s expansion. Furthermore, insurance companies that offer reductions on premiums for cars with dashcams encourage consumer adoption, which shapes market patterns. A major contributing factor is the emphasis on road safety and consumer awareness. Customer demand is driven by growing awareness of traffic accidents and the necessity of reporting incidents using proof. Dashcams’ usefulness and appeal are further increased by their easy interaction with smartphone apps for sharing and accessing footage. Manufacturer rivalry drives down prices and promotes innovation by energizing the market. Product uniqueness through distinctive features, stylish appearance, and pricing becomes essential to grabbing consumer attention as multiple companies compete for market share. In overall, a dynamic environment of growth and evolution is fostered by the dashboard camera market, which is driven by a combination of technology innovation, legislative changes, consumer awareness, and competitive strategies.
Regional Analysis
The dashboard camera market in Asia Pacific is expected to lead globally. Dash cam demand is fueled by the region’s large automotive industry as well as growing worries about security and safety on the roads. Dashboard cameras are becoming more common in countries like South Korea, Japan, China, and India, where there are thriving vehicle markets and consumers who value safety features above all else. Furthermore, the Asia Pacific area is experiencing a boom in technological innovation. It acts as a center for the fabrication of electronics, enabling the creation of dashcams that are both affordable and of excellent quality. Modern features like GPS tracking, AI-powered functions, and connection choices fit in nicely with the tech-savvy customers who are common in these areas. Furthermore, the usage of dashcams is required or encouraged in several Asia Pacific countries through regulatory measures and insurance incentives. These policies, which are intended to improve traffic safety, act as stimulants to the market, which accelerates the use of these gadgets. Furthermore, there is a sizable consumer base for dashboard cams due to the sheer size of the Asia Pacific market and rising disposable incomes in many nations. The competitive environment between domestic and foreign firms encourages innovation, which propels the market’s upward trajectory. All things considered, the Asia Pacific region is set to lead the worldwide dashboard camera market because to a combination of technological superiority, legislative backing, and a growing consumer base.
The report “Dashboard Camera Market Size, Share & Trends Analysis Report by Technology Type (Basic, Advanced, and Smart Dashcams), by Product Type (Single-channel, Dual-channel, and Rear-view dashcams), by Application Type (Personal vehicles, Commercial vehicles, and Law enforcement vehicles), and by Region (North America, Europe, APAC, MEA, and CSA), and Segment Forecasts, 2023 – 2031” is available now to Econ Market Research customers and can also be purchased directly from: https://www.econmarketresearch.com/
Further key findings from the report suggest:
- The global dashboard camera market is predicted to register a compound annual growth rate (CAGR) of 8.6% over the projected period of 2023-2031.
- Asia Pacific will be the leading region of the global dashboard camera market during the forecast period of 2023-2031.
- The major key players in the global dashboard camera market are: Pittasoft Co. Ltd., Garmin Ltd, Falcon Zero LLC, Cobra Electronics Co, Safe Cams, THINKWARE, Harman, Amcrest Technologies LLC, HP Development Company LP, DOD Tech, DJI, Panasonic Corporation, DOD Tech, Waykens Unc., Papago Inc., LG Innotek, Koninklijke Philips N.V, and Honeywell International Inc.
Read More Information about Dashboard Camera Market: https://www.econmarketresearch.com/industry-report/dashboard-camera-market/
Econ Market Research has segmented the global dashboard camera market based on technology type, product type, application type, and region:
Dashboard Camera Market by Technology Type (Revenue, USD Billion, 2023-2031)
- Basic
- Advanced
- Smart Dashcams
Dashboard Camera Market by Product Type (Revenue, USD Billion, 2023-2031)
- Single-channel
- Dual-channel
- Rear-view dashcams
Dashboard Camera Market by Application Type (Revenue, USD Billion, 2023-2031)
- Personal vehicles
- Commercial vehicles
- Law enforcement vehicles
Dashboard Camera Market Regional Analysis (Revenue, USD Billion, 2023-2031)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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