IMARC Group, a leading market research company, has released a report titled “Dashboard Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global dashboard camera market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.57% during 2023-2028.
Dashboard cameras, commonly known as dashcams, are cameras mounted on the front windscreen or rear windows of a vehicle. They are typically installed on the dashboard or windscreen of passenger cars and commercial vehicles such as trucks and trailers. They are used to capture footage of the vehicle’s interior and surroundings, making them valuable tools for recording collisions, road accidents, and other incidents. Some commonly available dashcams include front-facing, rear-facing, interior, triple-lens, and miniature models. They are often equipped with features such as date and time stamps, built-in GPS systems, and night recording capabilities. They are positioned strategically to provide a clear view of the road ahead. They are powered by the vehicle’s electrical system and offer manual and automated controls. The automated system activates when the car’s ignition is turned on. They provide cost-effective benefits for car users with lower insurance premiums. In addition, they offer numerous advantages, including mitigating road rage incidents, reporting instances of reckless driving and harassment, and monitoring the behavior of young or inexperienced drivers. As a result, dashboard cameras are gaining immense traction across the globe.
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Dashboard Camera Market Trends and Drivers:
The global dashboard camera market is primarily driven by the increasing consumer awareness about vehicular safety and rapid growth in the automotive industry. Moreover, the surging adoption of dashboard cameras and Advanced Driver Assistance Systems (ADAS) by two-wheeler and four-wheeler drivers to enhance on-road safety and document incidents such as collisions, thefts, and vandalism as they provide alerts to drivers by analyzing the distance and speed of the vehicle ahead is positively influencing the market growth. Apart from this, the rising number of fraudulent insurance claims and medical compensation using fake car accidents has accelerated the product adoption rate. Additionally, the increasing product utilization in commercial vehicles for monitoring and safety purposes has catalyzed market growth. Besides this, the escalating demand for multiple-channel dashcams for detailed and live monitoring is another major growth-inducing factor. Furthermore, numerous technological advancements such as seamless wireless connectivity, lane departure warning, blind-spot detection, and collision avoidance systems are contributing to the market growth. Along with this, various insurance providers are encouraging the use of dashboard cameras and utilizing recorded footage to expedite claims processing and reduce premiums, which in turn is propelling the market growth. In addition, the rising cases of road accidents and collisions from the rear end of vehicles have augmented product demand. Other factors, including the implementation of favorable government policies, inflating consumer disposable incomes, and the growing demand for quicker insurance claims and protection against rising vehicle thefts, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Technology:
- Basic
- Advanced
- Smart
Breakup by Product:
- 1-Channel
- 2-Channel
- Rear View
Breakup by Video Quality:
- SD and HD
- Full HD and 4K
Breakup by Application:
- Commercial Vehicle
- Personal Vehicle
Breakup by Distribution Channel:
- Online Stores
- In-store
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- ABEO Technology CO. Ltd
- Aiptek International GmbH
- Amcrest Technologies Llc
- CNSLink Ltd.
- Cobra Electronics Corporation (Cedar Electronics Corporation)
- DigiLife Technologies Co. Ltd. (KYE Systems Corp.)
- DOD Technologies Inc
- Garmin Ltd.
- LG Electronics Inc.
- Panasonic Corporation
- Pittasoft Co. Ltd.
- Steelmate Co. Ltd.
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