NEW YORK, United States, June 23, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Dashboard Camera Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. According to the latest research study, the global dashboard camera market size was valued at USD 4.5 billion in 2022 and it is expected to surpass around USD 17.01 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 20.98% during the forecast period 2023 to 2030.
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Dashboard Camera Market Report Overview:
The dashboard camera industry deals with the economic aspects of designing, production, and distribution of dashboard cameras also known as dash cams. They are compact and portable devices that are mounted on a vehicle's dashboard or windshield and used to record footage of the road ahead while driving or stationary. Some dash cams provide only a single few which typically consist of the road ahead of the vehicle; however, in recent times, manufacturers have introduced products with a wider video capturing range.
Some advanced dashcams are equipped with additional features such as built-in GPS, Wi-Fi connectivity, motion sensors, parking mode, and collision detection. It is an evolving market as newer products are being introduced for commercial purposes. However, government regulations play a crucial role in shaping industry growth in economic locations.
Global Dashboard Camera Market Dynamics: Growth Drivers, Restraints, Opportunities & Challenges
The global dashboard camera market is projected to grow due to the increasing number of vehicles on the road including passenger cars, commercial vehicles, and public or private road transport automobiles. A recently published report claimed that the average volume of traffic on national highways in China in 2021 recorded nearly 14,993 vehicles every day. The number is an increase of 4.2% from last year. Such trends are observed globally. This has resulted in increased demand for measures promoting road safety and dashcams are effective in achieving the vision. Furthermore, changing legislations in several economies are mandating the use of dash cams. For instance, Russia has been a pioneer in the application of dashboard cameras to fight road rage. The mandates apply to all commercial vehicles in the country.
In recent times, the technology used for dash cam has undergone tremendous development. Modern-age devices have better video quality, wider viewing angles, night-time vision, and other benefits. Many devices are equipped with artificial intelligence (AI) algorithms that make the device more appealing. The increasing influence of viral video concepts and social media remains undeniable as there is multiple footage on video-sharing platforms showcasing close calls or unusual events.
However, the global dashboard camera industry is also plagued with several growth limitations. The primary being the lack of standardized regulations since laws related to the use of dashboard cameras may vary depending on the nation. Moreover, dash cams may showcase limited functionality in case of severe accidents in which the camera itself is damaged. Installation and maintenance costs may act as a growth barrier.
The growing investment toward integration with advanced driver-assistance systems (ADAS) may provide growth opportunities while reliability and durability could challenge market expansion.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 4.5 Billion |
| Projected Market Size in 2030 | USD 17.01 Billion |
| CAGR Growth Rate | 20.98% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | Garmin, Nextbase, Thinkware, BlackVue, VIOFO, Rexing, Vantrue, Anker Roav, Transcend, AUKEY, Crosstour, Yi Technology, APEMAN, Papago, Cobra Electronics, FalconZero, Pyle, Azdome, Old Shark, Blueskysea, WheelWitness, Street Guardian, and Spy Tec. |
| Key Segment | By Vehicle Type, By Channel Type, By Technology Type, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Dashboard Camera Market: Segmentation Analysis
The global dashboard camera market is segmented based on vehicle type, channel type, technology type, and region.
Based on vehicle type, the global market divisions are commercial vehicles, passenger vehicles, and others. Based on channel type, the global market is divided into dual-channel, single-channel, and others. The dashboard camera industry growth was led by the single-channel segment in 2022. They are the most basic types of dashboard cameras and consist of a single camera unit. They are primarily used to capture the front view and are more suitable for personal use. Dual-channel dash cams consist of two camera units. They are also known as dual lenses or front and rear dash cams.
One camera records the front view while the other is mounted on the rear windshield and records the view behind the vehicle. Dual-channel cameras provide additional coverage and are highly popular among commercial vehicle owners or individuals who want comprehensive video coverage for insurance purposes and other reasons. Most commercially available dash cams start at a quality grade of 720p and may go up to 1080p or more.
Based on technology type, the global industry segments are smart, advanced, basic, and others. The segmental growth was dominated by basic technology as they offer essential features and basic functionality. The price is lower as compared to others and hence is more cost-effective for everyday use. They are designed to capture video footage of the road ahead. Such dashcams have a simpler user interface with limited additional features and standard video quality.
Advanced cams offer upgraded capabilities such as enhanced video quality, higher-resolution sensors, and improved low-light performance. Some models may also offer Bluetooth and Wi-Fi connectivity. Smart cams are the most advanced versions and offer features such as live-view, video playback, and video sharing. A basic dash cam may cost between USD 60 to USD 150.
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Regional Analysis:
Europe is projected to lead the global dashboard camera market with the highest CAGR during the forecast period due to increased initiatives undertaken by regional governments to improve road safety. Additionally, growing consumer awareness about the measures that can be adopted to ensure that personal interests are safeguarded in case of road rage or accidents has acted as a crucial revenue contributor. Mandates laid down by European heads have caused the majority of commercial fleet owners to install dash cams in vehicles.
North America may register high growth due to the presence of key players and manufacturers of dashboard cameras along with consistent research and development to ensure product innovation and market lead. The Asia-Pacific region is expected to grow at a steady rate due to growing product awareness and a high rate of vehicular traffic. Moreover, product innovation undertaken by automobile manufacturers could drive regional market expansion.
Competitive Landscape
Some of the main competitors dominating the global Dashboard Camera market include -
- Garmin
- Nextbase
- Thinkware
- BlackVue
- VIOFO
- Rexing
- Vantrue
- Anker Roav
- Transcend
- AUKEY
- Crosstour
- Yi Technology
- APEMAN
- Papago
- Cobra Electronics
- FalconZero
- Pyle
- Azdome
- Old Shark
- Blueskysea
- WheelWitness
- Street Guardian
- Spy Tec.
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Dashboard Camera market is likely to expand at a CAGR of around 20.98% during the forecast period (2023-2030).
- In terms of revenue, the Dashboard Camera market size was valued at around US$ 4.5 billion in 2022 and is projected to reach US$ 17.01 billion by 2030.
- The dashboard camera market is projected to grow at a significant rate due to the growing awareness of personal safety.
- Based on vehicle type segmentation, passenger vehicles was predicted to show maximum market share in the year 2022.
- Based on technology type segmentation, basic was the leading type in 2022.
- On the basis of region, Europe was the leading revenue generator in 2022.
Key questions answered in this report:
- What is the market size and growth rate forecast for Dashboard Camera industry?
- What are the main driving factors propelling the Dashboard Camera Market forward?
- What are the leading companies in the Dashboard Camera Industry?
- What segments does the Dashboard Camera Market cover?
- How can I receive a free copy of the Dashboard Camera Market sample report and company profiles?
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The global dashboard camera market is segmented as follows:
By Vehicle Type
- Commercial Vehicles
- Passenger Vehicles
- Others
By Channel Type
- Dual-Channel
- Single-Channel
- Others
By Technology Type
- Smart
- Advanced
- Basic
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In May 2023, automobile manufacturer Hyundai announced its intention to launch a brand-new model in the existing range of compact sport utility vehicles (SUV). The model will be called EXTER and is expected to be equipped with advanced features such as a sunroof and dash camera with dual cameras along with a 2.31-inch digital display
- In June 2023, THINKWARE, a leading dash cam manufacturer, launched the U3000 dash cam which offers increased compatibility. The product will be available in the North American market
- In May 2023, Nextbase launched Nextbase iQ which is a next-generation in-car driver assistance and security system. It is expected to be available in the spring of 2023
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/dashboard-camera-market
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