The size of the global market for Dashboard Camera is expected to reach USD 8.59 Billion by 2028, expanding at a compound annual growth rate (CAGR) of 13.44%.
The global demand for dash cams is foretell to experience a significant growth with the rising awareness related to gains of using car digital video recorders to the global customers, which is contributed to displaying footage of crashes and road accidents by such devices in news. Various insurance organizations encourage vehicle owners to install these cameras so that they can claim insurance and legal protection in case road mishaps and accidents. Along with that, decreasing price of dash cams is a boosting factor for global dashboard camera market growth.
“Dashboard cameras have a huge consumer base in number of countries across various regions like Asia-Pacific, Europe & CIS and North American, owing to growing consumer preference towards installing dashboard cameras in order to monitor and track vehicles on real time basis. Road accident and road rage incidents across the globe have increased at a significant rate over the past few years, which positively influenced global dashboard market during 2011-2015. Moreover, changing insurance policies, number of initiatives by various governments and rising technological advancements, coupled with growing penetration of Chinese players are further anticipated to propel demand for dashboard cameras during 2016-2021.”, stated by experts at a renowned research institute.
American economy revival after recession positively impacted the growth of dashboard camera and automobile industry market in the country. The demand of global dashboard camera industry is anticipated to hike in the next couple of years. Additionally, stringent government rules and regulations for incorporating dash cams in vehicles due to growing number of accidents in the U.S. is expected to propel the market growth. Vehicles with GVWR of 10,000 lb. (4,536 kg) are mandated to have rear-view cameras which covers SUVs, buses, passenger cars and light trucks.
Dashboard Camera’s popularity increased particularly in Asia-Pacific among private and commercial vehicle owners. To be specific, the major demand for dash cams comes from countries like South Korea, Australia, China, Japan, and Others, in which China holds the major global dashboard camera market share. In South-Asian countries like Indonesia, Singapore and Malaysia, there is remarkable rise due to fraud protection and providing road safety to passengers and motorists.
The dashboard camera have conceivable configuration which comes in single to multiple lenses that offers both front as well as rear recording simultaneously. The segment with rapid growth is single channel dashboard cameras as the demand for dashboard cameras in motorists is at its peak owing to procurement of evidences for criminal and civil lawsuits, usefulness in filling insurance claims along with other safety concerns.
The global dashboard camera market is mainly handled by Aiptek Inc., Abeo Company Co. Ltd, Qrontech Co. Ltd, Dod Tec, Bulls-I Vehicle Drive Recorders, Delphi Automotive Systems Pvt Ltd, Harman International Industries, Inc., Garmin International Inc., Lg Corporation, Hewlett-Packard, Papago Inc., Panasonic Corporation, Pittasoft Co. Ltd, Steelmate, amongst others. Voxx International declared new 360fly single lens 360-degree action camera. The camera incorporates a system which offers full mobility without a processor which will led its application in automotive industry for better-processed images.
Dashboard Camera Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 8.59 Billion|
|Growth Rate||CAGR of 13.44% during 2021-2028|
|Segment Covered||By Technology, End User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Garmin, Ltd.; DigiLife Technologies Co., Ltd (HP, Inc.); Cobra Electronics Corporation, Pittasoft Co., Ltd; Panasonic Corporation|
Key segments of ‘Global Dashboard Camera Market’
Based on video quality, the market has been segmented into,
- SD & HD
- Full HD & 4K
Based on product, the market has been segmented into,
Based on region, the market has been segmented into,
- North America