USD 3.38 billion
Report ID: SQSG25A2001 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 63 | Figures: 75
Global Dash Board Camera Market size was valued at USD 3.38 billion in 2021 and is poised to grow from USD 3.7 billion in 2022 to USD 7.6 billion by 2030, growing at a CAGR of 9.5% in the forecast period (2023-2030).
Digital video recorders (DVRs) or dashboard cameras (dash cameras or in-car cameras) are specialized portable onboard cameras that are connected to the interior of a vehicle's windscreen. Single-channel and dual-channel dash cameras are the two types of dashboard cameras. There are a variety of dashboard cameras available in the market, with features ranging from simple video records to cameras with date and time, G-forces, inbuilt GPS, and night recording.
The demand for dash cameras has grown dramatically over the years as a result of factors such as a rise in the frequency of traffic accidents and car thefts. These cameras can also help to avoid insurance fraud (including deliberately causing accidents to make false insurance claims). Furthermore, legislative reforms mandating the usage of dash cams in cars, as well as advantageous policies by car insurance companies offering discounts to vehicles equipped with dashboard cameras, are propelling the growth of this market.
US Dash Board Camera Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.38 billion
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The Global Bash Board Camera Market is segmented on the basis of Technology, Product, and Region. Based on Technology, the Dash Board Camera Market is segmented into Basic, Advanced, and Smart. Based on Product, the market is segmented into Single-Channel, Dual-Channel, and Rear-View. Based on Region, the global dash board camera market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Dash Board Camera Market Analysis by Technology
The basic dashboard camera segment was the most prevalent in 2021, accounting for more than 60% of the market. This segment's growth is expected to be aided by the ease of installation and low cost of these devices. By 2028, basic dashboard cams are estimated to sell more than 81.0 million units. From 2022 to 2028, the smart dashboard camera market is predicted to grow at the fastest rate, with a CAGR of over 16%. Over the projection period, the increasing demand for advanced driver assistance capabilities such as blind-spot detection, lane departure warning systems, and collision avoidance systems is likely to generate a substantial potential for segment growth. Some of the market's most prominent players are working on the development and commercialization of feature-rich dashboard cameras. The ability to combine these dashcams with various supplementary technologies such as vehicle data monitoring and telematics is the primary feature given by these dashcams.
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Europe had the largest Dash Board Camera Market share of more than 30% in 2021. Despite the fact that the region accounts for a major portion of worldwide demand for dashcams, many governments in the region have outright banned them. Due to high rates of accidents, major police corruption, unsafe road conditions, low cost, and the simple availability of technology, most people in nations like Russia install dashboard cameras in their personal automobiles. In nations such as Austria, Luxembourg, and Portugal, however, the use of recording devices or dashboard cameras is strictly prohibited, and violators may face severe penalties.
Asia Pacific is predicted to develop at the fastest rate in terms of volume, with a CAGR of more than 17% from 2022 to 2028. The region's demand for dashboard cameras is expected to rise over the forecast period as a result of favorable government efforts, consumer-centric marketing techniques, and growth in the number of on-road cars. Dashboard cameras are gradually being recognized as beneficial by many government entities and individual drivers. Dashboard cameras are expected to grow in popularity in the region over the forecast period because they provide invaluable evidence that can protect the user financially and legally.
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The dashboard camera market is consolidated and highly competitive, with the existence of numerous small and major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve Dash Board Camera Market share and profitability. Some of the major players in the Dash Board Camera Market are Panasonic Corporation, Garmin Ltd, Harman International Industries Inc., and HP Development Company LP, among others.
Dash Board Camera Market Top Player’s Company Profiles
Dash Board Camera Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the dashcams market is classified into two categories based on distribution channels: online and in-store. The in-store sector accounted for more than 62% of total revenue in 2021 and is likely to continue its dominance during the forecast period. A retail store provides customers a demonstration of the equipment, allowing them to sample and test it before making a purchase. Furthermore, clients can own the item right away, as opposed to the online ordering option, which normally takes a few days to arrive.
|Market size value in 2021||USD 3.38 billion|
|Market size value in 2030||USD 3.7 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Dash Board Camera Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Dash Board Camera Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG25A2001