New York, United States, June 28, 2022 (GLOBE NEWSWIRE) -- Dashboard cameras, sometimes known as 'dashcams' or 'dash cams,' are likely to increase demand for installation in passenger and commercial cars due to increased vehicle sales. Dashboard cameras are becoming increasingly prevalent among drivers all around the world. This technology is making its way onto the dashboards of many commercial and personal vehicles, allowing the driver to take control of the vehicle's security and recording incidents like crashes, theft, and vandalism. Dashboard camera footage is now recognized as evidence proving responsibility and insurance claims. To combat fake insurance claims, insurance firms are encouraging the use of dashboard cameras by offering discounts on rates.
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Increasing Incidences of Road Accidents and Car Thefts to Drive the Global Dashboard Camera Market
As the number of road traffic accidents and theft instances continues to rise worldwide, dashboard cameras are becoming increasingly popular. When a car is engaged in an accident or a high-stress event, dashcam footage offers a proper understanding of collision liability. This can also aid in decreasing insurance costs and expediting claims. Another significant benefit of a dashboard camera is identifying and apprehending those responsible for parking accidents and thefts. As a result of these advantages, demand has increased, resulting in higher revenue generation.
Due to the rising incidence of automobile thefts, the dashboard camera market has grown fast in recent years. As a result of the expanding number, several governments have mandated the installation of dash cams in automobiles, driving the industry's growth. Over the coming years, the demand for dashboard cameras is likely to rise due to the spike in the number of auto theft cases.
Favorable Initiatives about the Implementation of Dashboard Cameras to Create New Opportunities for Dashboard Cameras
Some countries have made dashboard cameras permissible to offer optimum protection and safety for drivers and passengers. Senator JV Ejercito of the Philippines introduced legislation mandating dashboard camera systems in all government-owned police cars, PUVs, and school buses. The concept encompasses government-owned patrol vehicles, personal utility vehicles (PUVs) that provide application-based transportation, and other similar vehicles that provide public transportation. Senate Bill No. 1457, often known as the Dash Cam Law, was introduced on May 16th, 2017. The law aims to reduce traffic violations and accidents on the road. The measure is also supposed to safeguard drivers from law enforcement officials abusing their authority and engaging in extortion.
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Regional Analysis of the Global Dashboard Camera Market:
Europe dominates the global dashboard camera market. The demand for dashboard cameras in Europe is projected to grow at a CAGR of 10.7% by 2030. Some insurance companies in the UK offer customers a 15% discount on monthly premiums for using dashboard cameras in their vehicles. This has significantly increased the popularity of dashcams in the country.
The market for dashboard cameras in Asia-Pacific is expected to grow at the highest CAGR of 15.7% due to the increasing popularity and adoption among motorists, accounting for USD 4,145 million by 2030. Insurance companies in some countries have started providing premium discounts to motorists with dashboard cameras in their vehicles. Dashboard cameras are expected to gain high acceptance in this region over the forecast period as they act as invaluable evidence, which can safeguard the user legally and financially.
North America is the third-largest region. The adoption of dashcams is expected to soar in the North American region over the forecast period. In January 2017, New York (NY) State proposed a Senate Bill (S438), under which the non-commercial vehicle owners will get around a 5% discount on premium for using a dashcam. Dashboard cameras are legal in most states across the region, mainly the US. Several truck and cab drivers in the region have started using dashboard cameras over the last couple of years because of the protection these cameras offer to their livelihood.
Key Highlights
- The global dashboard camera market was worth USD 3,615 million in 2021. It is estimated to reach a value of USD 10,860 million by 2030, growing at a CAGR of 13% during the forecast period (2022–2030).
- By technology, the global dashboard camera market is divided into Basic, Advanced, and Smart. The Basic dashboard camera is the highest revenue-generating segment and is expected to grow at a CAGR of 12.5% during the forecast period. Reduced costs and easy installation of such devices are anticipated to drive the adoption of basic dashboard cameras.
- By product, the global dashboard camera market is divided into 1-Channel, 2-Channel, and Rear View. The 1-Channel dashboard cameras dominate the market. It is estimated to reach an expected USD 7,575 million by 2030 at a CAGR of 12.5%.
- By video quality, the global dashboard camera market is divided into SD & HD and Full HD & 4K. The SD & HD segment dominates the market, and it is estimated to reach an expected to grow at a CAGR of 12.4% during the forecast period. SD cameras typically record low-resolution videos, allowing them to record longer loops of videos in restricted memory sizes.
- By application, the global dashboard camera market is divided into Commercial Vehicles and Personal Vehicles. Personal Vehicles account for the largest market share. It is estimated to grow at a CAGR of 13% during the forecast period. Demand for dashboard cameras in personal vehicles is rising with common laws and regulations on road safety in many economies worldwide, coupled with increasing awareness of the benefits of dashcams.
- By distribution channel, the global dashboard camera market is divided into Online and In-Store. The In-Store segment dominates the market. It is estimated to grow at a CAGR of 12.4% during the forecast period. Retail stores offer sample demonstrations of a device, which enables a customer to try and test it before deciding to buy. Customers can own a device instantaneously by purchasing it in retail stores. Retail stores also offer a sample demonstration of a device, which enables a customer to try and test it before deciding to buy.
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Competitive Landscape
The key players are
- ABEO Company Co. Ltd.
- Garmin Ltd.
- Amcrest Technologies
- Pittasoft Co. Ltd.
- Panasonic Corporation
- Falcon Zero
- Cobra Electronics Co
- DOD Tec.
Global Dashboard Camera Market: Segmentation
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
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Dashboard Camera Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Technology Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Basic
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Advanced
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Smart
5.4.1 Market Size & Forecast (Value & Volume)
6 Product Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 1-Channel
6.2.1 Market Size & Forecast (Value & Volume)
6.3 2-Channel
6.3.1 Market Size & Forecast (Value & Volume)
6.4 Rear View
6.4.1 Market Size & Forecast (Value & Volume)
7 Video Quality Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 SD & HD
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Full HD & 4K
7.3.1 Market Size & Forecast (Value & Volume)
8 Applications Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 Commercial Vehicle
8.2.1 Market Size & Forecast (Value & Volume)
8.3 Personal Vehicle
8.3.1 Market Size & Forecast (Value & Volume)
9 Distribution Channel Overview
9.1 Introduction
9.1.1 Market Size & Forecast (Value & Volume)
9.2 Online
9.2.1 Market Size & Forecast (Value & Volume)
9.3 In-Store
9.3.1 Market Size & Forecast (Value & Volume)
10 Regional Overview
10.1 Introduction
10.1.1 Market Size & Forecast (Value & Volume)
10.2 North America
10.2.1 Economic Overview
10.2.2 Market Scenario
10.2.3 U.S.
10.2.4 Canada
10.2.5 Mexico
10.3 Central and South America and the Caribbean
10.3.1 Economic Overview
10.3.2 Market Scenario
10.3.3 Brazil
10.3.4 Argentina
10.3.5 Colombia
10.3.6 Rest of Central and South America and the Caribbean
10.4 Europe
10.4.1 Economic Overview
10.4.2 Market Scenario
10.4.3 Germany
10.4.4 France
10.4.5 The U.K.
10.4.6 Italy
10.4.7 The Rest Of Europe
10.5 Asia-Pacific (APAC)
10.5.1 Economic Overview
10.5.2 Market Scenario
10.5.3 China
10.5.4 Japan
10.5.5 India
10.5.6 Australia
10.5.7 South Korea
10.5.8 Rest Of APAC
10.6 Middle East
10.6.1 Economic Overview
10.6.2 Market Scenario
10.6.3 South Arabia
10.6.4 The UAE
10.6.5 Qatar
10.6.6 Oman
10.6.7 Turkey
10.6.8 The Rest Of Middle East
10.7 Africa
10.7.1 Economic Overview
10.7.2 Market Scenario
10.7.3 Nigeria
10.7.4 South Africa
10.7.5 The Rest Of Africa
11 Competitive Landscape — Manufacturers & Suppliers
11.1 Competition Dashboard
11.2 Industry Structure
11.3 ABEO Company Co. Ltd
11.3.1 Business Overview
11.3.2 Financial Performance
11.3.3 Recent Developments
11.3.4 Portfolio
11.4 Garmin Ltd.
11.5 Amcrest Technologies
11.6 Pittasoft Co. Ltd
11.7 Panasonic Corporation
11.8 Falcon Zero
11.9 Cobra Electronics Co
11.10 DOD Tec.
12 Conclusion & Recommendation
13 Acronyms & Abbreviations
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Market News
- In April 2022, Cobra Electronics, a leading designer and producer of award-winning automotive, mobile, and consumer electronics, revealed its new line of power solutions, which includes four new products ideal for backup or on-demand use: the Jump Starter 800A and 1000A to start the dead vehicle and boat batteries without any outside aid, the Battery Charger 2A to charge and handle vehicle batteries through the off-season or when not in use for an extended period, and the Jump Starter 1000A to start the dead vehicle and boat batteries without The devices, which are aimed for everyday commuters, family travelers, outdoor and marine enthusiasts, and mobile professionals, provide safe, dependable electricity on the road, outdoors, on the water, or in the off-season – whenever and wherever it is needed.
News Media
Increasing Geriatric Population is One of the Major Factors Driving the Smart Home Products Market
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