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Dashboard Camera Market Set To Reach USD 7.52 Billion By 2030 As Revealed In New Report

Dashboard Camera Market

Dashboard Camera Market

Dashboard Camera Market Size & Segmentation By Technology, By Product, By Video Quality, By Application, By Distribution Channel, and By Region (2023-2030)

Dashboard Camera Market Enhancing Road Safety: The Role of Dashboard Cameras in Accident Prevention and Evidence Collection Will Reach at $7.52 billion by 2030.”
— Sr. Researcher Roshan Rathod
AUSTIN, TEXAS, UNITED STATES, February 23, 2024 /EINPresswire.com/ -- The dashboard camera market is experiencing significant growth, driven by advancements in technology and the increasing demand for safety features in vehicles. Market players are continually innovating to offer more sophisticated dash cams with enhanced functionalities.

Market Size  -

The SNS Insider report indicates that the Dashboard Camera Market was valued at USD 3.69 billion in 2022, and it is projected to achieve a market size of USD 7.52 billion by 2030, with a compound annual growth rate (CAGR) of 9.3% expected over the forecast period from 2023 to 2030.

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Prominent Players -

• Garmin Ltd
• Cobra Electronics
• Pittasoft CO.
• Panasonic Corp

Market Report Scope –

Increased awareness of vehicle safety, faster insurance claims, and protection against rising vehicle thefts have contributed to the growth of the industry. A crucial factor driving product demand is a rise in the number of fraudulent insurance claims and medical compensation by means of fake car accidents. Insurance companies promote the use of vehicles for dealing with insurance claims more effectively and quickly. Innovative car DVRs with advanced safety features such as lane departure warning systems, blind spot detection and collision avoidance systems are being developed by some of the leading automotive dashboard camera manufacturers. These systems are being used by car companies, fleet operators and individual vehicle owners in order to increase the safety of vehicles. Market players are making sophisticated dashboard cameras which include a forward collision warning system.

Market Growth Factors –

A dashboard camera or a car digital video recorder is an instrument mounted on the vehicle's dashboard, which can be used to record audio and video. Careful and accurate recording of every detail on the road is a key function of dash cams. The front view through the vehicle's windscreen and sometimes rear or other windows shall be continuously recorded by this onboard camera. The vehicle's main windshield and occasionally the rear windscreen are equipped with dashboard cameras. Sophisticated dashcams, which are equipped with forward collision warning systems, are being produced by market players. These systems are capable of warning drivers in the event of a possible collision, which offers more protection from accidents. Due to the growth of the auto industry, the market has become extremely dynamic. Recorded footage from dash cams is being extensively used in the event of accidents and road mishaps as evidence against claims for 'cash for crash' frauds.

Segmentation Analysis –

The major revenue share of the market in 2022 was accounted for by basic technologies based on technology. The manufacturers who offer dash cams, which have the essential features and technology, are significantly lowering their entry levels. These cameras are cheap and can be installed in a few minutes. The basic features are well received by the majority of customers. In developing regions, the simple process and relatively cheap production costs have led to more widespread use of standard technology dashcams.

In 2022, the personal vehicle application segment dominated the global market and accounted for a dominant share of revenue. A number of factors, such as a rise in road accidents, increased safety concerns and the availability of low- or high-quality cameras, can be attributed to this increase in automotive dashboard cameras. The growing number of road accidents is one of the main reasons for growth in passenger vehicle use on the market.

By Technology

• Basic
• Advanced
• Smart

By Product

• 1-Channel
• 2-Channel
• Rear View

By Video Quality

• SD & HD
• Full HD & 4k

By Application

• Commercial Vehicle
• Personal Vehicle

By Distribution Channel

• Online
• In-Store

Key Regional Development –

In 2022, Europe accounted for the highest revenue share. Increasing awareness about the benefits associated with a camera, also known as dash cams, is an important factor for market growth. The growing concern for road safety is this factor that contributes to the growth of the market. There is a growing need for measures to improve road safety, given the continued increase of traffic in EU countries. During the forecast period from 2023 to 2030, Asia Pacific is expected to account for the highest compound annual growth rate of approximately 12.2%. They have become more accessible to a broader consumer base thanks to the increased affordability of dash cams. The costs of manufacturing these devices have been reduced as technology progresses, which makes them available to a wider range of consumers in the area. In this area, the popularity of dashboard cameras in India has also given a boost to Internet distribution channels.

Key Takeaway’s–

Due to an increase in car thefts, the market for dashboard cameras has grown significantly. This has led to a growing number of governments requiring the installation of dashboard cams in motor vehicles, leading to increased growth within the sector. The growth in automobile theft is expected to increase the demand for incorporating dashboard cameras in cars over the coming years. The cameras are used to monitor potential car thefts in the parking mode of operation.

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Recent Developments -

In October 2023, Qubo, a smart device brand owned by Hero Electronix, introduced new dashcam products called Dashcam Pro X and Dashcam Pro 3K, with advanced features such as GPS tracking, loop recording, time-lapse, and front and rear cameras to track vehicles in real-time.

Firsttech llc launched the Drone XC Mobile Dashcam on September 23, 2023. In order for users to see what's happening inside and around their vehicles in real time, it seamlessly integrates with compatible remote starts and security systems.

Garmin Ltd., which is connected to the LTE network and allows drivers to see their vehicle's exterior in real time, launched its Dash Cam Live product in January 2023.

Table of Content:

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Dashboard Camera Market Segmentation, By Technology
8.1 Basic
8.2 Advanced
8.3 Smart

9. Dashboard Camera Market Segmentation, By Product
9.1 1-Channel
9.2 2-Channel
9.3 Rear View

10. Dashboard Camera Market Segmentation, By Video Quality
10.1 SD & HD
10.2 Full HD & 4K

11. Dashboard Camera Market Segmentation, By Application
11.1 Commercial Vehicle
11.2 Passenger Vehicle

12. Dashboard Camera Market Segmentation, By Distribution Channel
12.1 Online
12.2 In-Store

13. Regional Analysis

Continued…!

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