Pune, India., Feb. 07, 2023 (GLOBE NEWSWIRE) -- The global dashboard camera market size was valued at USD 3.53 billion in 2021. The market could surge from USD 4.21 billion in 2022 to USD 16.8 billion by 2029 at 21.8% CAGR during the forecast period. Fortune Business Insights™ has deep-dived these inputs in its latest research report, titled, “Dashboard Camera Market, 2022-2029.”
According to the study, dash cam has become sought-after to prevent accidents on roads. Prominently, the emergence of vehicle telematics and artificial intelligence has encouraged the adoption of dashboard camera. Some factors, such as high definition video recordings, live streaming of video footage and identity blurring, will encourage end-users to adopt the advanced technology.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 21.8% |
| 2029 Value Projection | USD 16.8 billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 4.21 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 242 |
Key Takeaways:
- Implementation of Stringent Government Regulations and Increasing Insurance Frauds to Drive the Dashboard Camera Market Growth
- Passenger Cars Segment to Hold the Largest Market Share Due to Rising Adoption Insurance Frauds Concern
- Due to Easy Availability, Single Channel Segment to Hold the Largest Market Share
- Adoption of Artificial Intelligence to Set a Positive Trend in the Market
Drivers & Restraints-
Rise in Insurance Frauds & Rigorous Government Regulations to Trigger Investments
A notable rise in the number of road fatalities could prompt major players to prioritize production of dashboard cameras. The WHO claims that 1.3 million road accidents occur yearly globally. With governments legislating the installation of rearview cameras in automobiles to boost safety, the dashboard camera market share could gain considerable traction over the next few years. Prominently, the National Highway Traffic Safety Administration (NHTSA) reportedly adopted a new law needing backup cameras in all vehicles that weigh less than 10,000 pounds such as trucks and buses. However, potential cybersecurity issues and other security vulnerabilities could impede the industry growth.
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Competitive Landscape
Stakeholders Invest in Organic and Inorganic Strategies to Boost Portfolios
Prominent players could inject funds into mergers & acquisitions, product rollouts, technological advancements, and R&D activities. Besides, significant companies could invest in innovations and product offerings in the ensuing period.
Segments-
Basic Technology to Remain Dominant Due to Affordability
With respect to technology type, the market is segregated into smart, advanced, and basic. Stakeholder expect the basic technology segment to account for the largest share of the global market due to affordability.
Single Channel to Grow with Rising Demand for Cost-effective Product
In terms of channel type, the market is segregated into dual-channel and single-channel. The single-channel segment will witness an exponential growth in the wake of the demand for cost-effective product and technology.
Passenger Cars to Exhibit Notable Growth with Rising Demand to Boost Safety
On the basis of vehicle type, the market is classified into passenger cars and commercial vehicles. The passenger cars segment could grow due to an increased demand to augment safety.
By Technology Type
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By Channel Type
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By Vehicle Type
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Regional Insights-
Europe to Witness Investment Galore with Rising Cases of Insurance Fraud
Industry participants anticipate Europe to account for a considerable share of the global market during the assessment period. The trend is mainly attributed to the rising prominence of dashcams across the U.K., Germany, and Russia. For instance, escalating insurance fraud and rise in accidents have encouraged end-users to seek dashcams.
The North America dashboard camera market growth will witness an appreciable gain due to robust government policies. To illustrate, the U.S. lawmakers are striving to make dashcam compulsory in the country. Moreover, growing demand for the technology from rideshare drivers has augured well for the regional growth.
Asia Pacific could provide promising growth opportunities in the wake of the rising footprint of ADAS, ABS, and vehicle telematics. Bullish government policies could expedite the penetration of dashboard cameras. To illustrate, in 2019, the Director-general Siti Zaharah Ishak of the Malaysian Institute of Road Safety Research (MIROS) appreciated an increased adoption of dashcams in vehicles and requested other drivers to embrace the technology.
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A list of prominent Dashboard Camera manufacturers operating in the global market:
- Koninklijke Philips N.V. (Netherlands)
- Valeo SA (France)
- Aptiv (Ireland)
- Honeywell International Inc. (U.S.)
- Panasonic Corporation (Japan)
- LG Innotek (South Korea)
- Xiaomi (China)
- Garmin Ltd. (U.S.)
- DOD Tec (Canada)
- Waylens, Inc. (U.S.)
- ABEO Company Co., Ltd (Taiwan)
- Pittasoft Co. Ltd. (South Korea)
- PAPAGO Inc. (U.S.)
- Steelmate Automotive (U.K.)
- Qihoo 360 Technology Co. Ltd. (China)
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Table Of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Porter’s Five Forces Analysis
- PEST Analysis
- Technological Developments
- Impact of COVID-19
- Sales Channel Analysis
- Onboard camera Supplier List
- COVID Impact
- Customization
- Global Dashboard Camera Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Technology Type
- Basic
- Advanced
- Smart
- Market Analysis, Insights and Forecast – By Channel Type
- Single Channel
- Dual Channel
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Dashboard Camera Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Technology Type
- Basic
- Advanced
- Smart
- Market Analysis – By Channel Type
- Single Channel
- Dual Channel
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Mexico
- Europe Dashboard Camera Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Technology Type
- Basic
- Advanced
- Smart
- Market Analysis – By Channel Type
- Single Channel
- Dual Channel
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- UK
- Germany
- France
- Rest Of Europe
- Asia Pacific Dashboard Camera Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Technology Type
- Basic
- Advanced
- Smart
- Market Analysis – By Channel Type
- Single Channel
- Dual Channel
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Market Analysis, Insights and Forecast – By Country
- China
- Japan
- India
- South Korea
- Rest Of APAC
- Rest of the World Dashboard Camera Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis – By Technology Type
- Basic
- Advanced
- Smart
- Market Analysis – By Channel Type
- Single Channel
- Dual Channel
- Market Analysis, Insights and Forecast – By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis (2019)
- Competition Dashboard
- Comparative Analysis – Major Players
- Company Profiles (Overview, Products & services, SWOT analysis, Recent developments, strategies, financials (based on availability))
- Koninklijke Philips N.V.
- Valeo SA
- Aptiv
- Honeywell International Inc.
- Panasonic Corporation
- Garmin Ltd.
- DOD Tech
- Waylens, Inc.
- ABEO Company Co., Ltd
- Pittasoft Co. Ltd.
- LG Innotek
- PAPAGO Inc.
- Steelmate Automotive
- Qihoo 360 Technology Co. Ltd
- Xiaomi
Continued...
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