The global dashboard camera market size is expected to reach USD 7.50 billion by 2028 according to a new study by Polaris Market Research. The report “Dashboard Camera Market Share, Size, Trends, Industry Analysis Report, By Technology (Basic, Advanced, Smart); By Product (1-Channel, 2-Channel, Rear View); By Video Quality; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The prominent factors favoring the growth include the increasing awareness among individuals concerning the advantages of dashboard cameras, including. The continuous attentiveness provided by DVR systems is an integral factor accelerating the market growth during the forecast period. Furthermore, the increasing emergence of safety regulations by the regulatory bodies and transport authorities globally, surging administrative focus on offering road safety and fraud safety to passengers, is extensively used for collecting evidence in occurrences of road accidents, which, in turn, raises the product demand.
Based on technology, it is the dominating segment in the global market, owing to its easy installation and low cost of these devices, whereas smart dashboard camera is projected to grow with the fastest CAGR, owing to the increasing demand for advanced driver assistance systems.
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With a considerable surge in the number of road traffic accidents over the past decade, the product can help avoid insurance, fraud, and road accidents by implementing the strict rules. For instance, as per the International Journal of Environmental Research and Public Health, roughly 244,937 road traffic accidents were registered in China in 2018, which caused 258,532 injuries, 63,194 fatalities, and direct economic loss worth USD 200 million.
Major Participants such as TourMate, Amcrest Technologies, Pittasoft Co. Ltd, Cobra Electronics Corporation, LTD., WatchGuard Video, Finedigital Inc., ITronics Group, LukasDashcam, Panasonic Corporation, ABEO Company Co., LTD, Shenzhen Zhixinsheng Electronics, Steelmate Co., Ltd., and DigiLife Technologies Co., Ltd. are some of the key players operating in the global market.
These industry players are making diverse marketing strategies in order to expand their business operations globally. In line with this, India-based Safe Cams unveiled its recent range – ‘Y Series Dash Cams’ in April 2021. Similarly, in January 2021, Canada-based Teletrac Navman released an AI-integrated dashboard camera that combines both AI and Edge computing capabilities to capture and analyze data in real-time. The products were established to assist individual car drivers and private car owners in preventing the possibility of road accidents or mishaps on the road.
Polaris Market Research has segmented the dashboard camera market report on the basis of technology, product, video quality, application, and region:
Dashboard Camera, Technology Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2028)
Dashboard Camera, Product Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2028)
- Rear View
Dashboard Camera, Video Quality Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2028)
- Standard Definition & High Definition (SD & HD)
- Full HD & 4K
Dashboard Camera, Application Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2028)
- Commercial Vehicle
- Personal Vehicle
Dashboard Camera, Regional Outlook (Volume, Thousand Units; Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa