A dashboard camera, often known as a car DVR or driving recorder, is an automotive camera that continuously records the view through the front windscreen and occasionally the back or other windows of a vehicle. These are small video cameras mounted in the dashboard or on the windscreen of a vehicle. Demand for the same will recover in the medium term, with a good growth prospect in the long run. The interior and front of the automobile are recorded by a front and interior dashcam. A dashcam with three lenses simultaneously records the front, interior, and back of the car. Small dashcams with screens are known as miniature dashcams. Dashboard cameras are found in both commercial and personal automobiles, and they come with simple, advanced, and smart technology.
Key Drivers for Dashboard Camera Market
Rising public awareness of the benefits of dashboard cameras, such as continuous vigilance provided by DVR systems, is expected to drive market expansion. Another factor driving the market growth is the introduction of safety standards by governments and transportation authorities around the world. As it is utilized to gather evidence in occurrences of traffic accidents, demand for dashboard cameras is likely to expand. Over the projected period, the market is expected to rise due to the rising demand for dashboard cameras with high-end capabilities such as GPS tracking, G-sensors, and Wi-Fi connectivity.
Recent Trends in Dashboard Camera Market
- A significant rise in the number of recorded accidental fatalities over the last decade has increased the popularity of driving assistance systems. As these systems have evolved as a viable product in the automotive market, demand for greater support systems that objectively judge imminent threats and guide drivers is increasing to a larger extent.
- Multi-lens dashboard cameras are a lucrative market for dashboard camera manufacturers to invest in. Dual-channel dashboard cameras are becoming increasingly popular over single-channel dashboard cameras. Private and commercial car owners are becoming more interested in these cameras. Dual-channel dashcam systems have two cameras with high-resolution feeds for recording front and back video.
- The industry is growing due to the launch of innovative technological applications by enterprises. The new dashcam comes with improvements including better power management for hard-wired installs and a new color design, all while preserving the finest night capture in the industry.
- North America is predicted to have significant growth, owing to a number of companies and startups in the United States beginning to make major investments in order to expand their footprint and help the region’s adoption rate. On the other hand, existing companies are developing new items to diversify their product line and acquire market share.
Competitive Analysis for Dashboard Camera Market
The dashboard camera market is quite competitive, with a number of prominent vendors. Due to the existence of many small and major firms operating in both domestic and international markets, the market looks to be fairly concentrated. Strategic collaboration initiatives are being used by the market’s key players to expand their market share and profitability. Manufacturers are also considering mergers and acquisitions to mitigate the supply chain’s negative effects in the near future.
Deep-dive Insights on Dashboard Camera Market by Polaris Market Research: https://www.polarismarketresearch.com/industry-analysis/dashboard-camera-market/request-for-sample