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The automotive dashboard camera market size is forecast to increase by USD 9.87 billion, at a CAGR of 34.28% between 2023 and 2028. The market is witnessing significant growth due to the increasing adoption of multi-channel cameras and the popularity of connected technologies. Wi-Fi-enabled models with mobile applications and GPS are gaining traction, allowing drivers to easily access and share footage of their journeys. Advanced features such as driver assistance systems and 1-Channel products are also driving market growth. However, the inconsistent quality of automotive dashboard cameras remains a challenge for the industry. Product Insights reveal that these devices are increasingly being used as a source of news videotapes, particularly in the event of crashes or accidents. Overall, the market is expected to continue its growth trajectory, driven by technological advancements and evolving consumer preferences.
The market is witnessing significant growth due to the rising number of vehicle thefts, fraudulent insurance claims, and the need for medical compensation. These devices, also known as car DVRs, are becoming increasingly popular among car owners as they provide recorded footage of car accidents and road mishaps, serving as valuable evidence for insurance companies. Vehicles equipped with dashboard cameras help reduce insurance costs and provide peace of mind to owners. Dashboard cameras are also gaining traction in the fleet management sector, enabling real-time monitoring, location tracking, and blind spot detection. Regulation from the land transportation office is driving the adoption of these devices in the automotive sector.
Furthermore, car manufacturers are also integrating dashboard cameras into their vehicles to enhance safety and security features. Overall, the market is poised for growth, offering numerous benefits to car owners and fleet managers alike.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The passenger cars segment is estimated to witness significant growth during the forecast period. The escalating number of road mishaps, particularly those involving passenger cars, has led to a growing demand for safety features in vehicles. Distractions from mobile devices, fatigue, and reckless driving are among the leading causes of these incidents. Consequently, there is a rising need for indisputable evidence to establish accountability and mitigate false accusations. Automotive dashboard cameras have emerged as a popular solution to address this issue. Their installation in passenger cars is increasingly preferred due to the heightened focus of insurance firms on preventing insurance fraud. In Europe and APAC, several insurance companies offer discounts on premiums for vehicles equipped with professionally installed dashboard cameras.
Moreover, commercial fleet operators and individual vehicle owners alike recognize the value of having recorded footage as a means of protecting themselves and their assets. Vehicle manufacturers and the Land Transportation Office are also recognizing the importance of this technology and are offering it as a franchise or OEM (Original Equipment Manufacturer) option.
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The passenger cars segment was valued at USD 995.50 million in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Automotive dashboard cameras have witnessed significant growth in popularity among commercial fleet operators and individual vehicle owners in European countries, particularly in Russia, Germany, and the UK. The high prevalence of road accidents and disputes between parties involved have led to a high penetration of dashboard cameras in Russia. Other contributing factors include the country's challenging road conditions due to harsh winters, weak road safety and law enforcement, and a high rate of road fatalities. These issues have encouraged vehicle users in Russia to prioritize safety accessories, resulting in a rise in dashboard camera adoption. In addition, vehicle manufacturers and the Land Transportation Office have started offering dashboard cameras as a franchise or OEM (Original Equipment Manufacturer) option.
Furthermore, the recorded footage from these devices can serve as crucial evidence in case of potential collisions or road mishaps, making dashboard cameras an essential safety feature for both commercial and personal use.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing adoption of multi-channel dashboard cameras is the key driver of the market. Dashboard cameras, also known as Car DVRs, have gained significant popularity in the automotive industry due to their ability to record driving behavior and potential road traffic incidents. Single-channel forward-facing dashboard cameras are commonly used to capture collisions, driver distractions, and vehicle break-ins. Advanced multi-channel dash cams offer additional features such as high-resolution recording (2K or 4K), wide-angle lenses for blind spot coverage, collision warnings, parking mode, and built-in GPS for insurance claims. The increasing concern for vehicular safety, insurance fraud, and the need for comprehensive video evidence in case of accidents or disputes are major factors driving the adoption of these devices.
Furthermore, multi-channel dash cams with advanced driver assistance systems (ADAS) like collision avoidance and blind spot detection are increasingly being adopted by automotive companies to enhance vehicle safety and reduce insurance claims due to fraudulent activities.
The increasing popularity of connected technologies in dashboard cameras is the upcoming trend in the market. The market is experiencing significant growth due to the increasing prioritization of vehicular safety and the potential for insurance claims in the event of car accidents, vehicle thefts, and fraudulent insurance claims. These devices, also known as Car DVRs, are increasingly being integrated with advanced safety features such as blind spot detection and collision avoidance systems. Automotive companies, including Harman International, are offering connected dashboard cameras that provide real-time data transmission and remote surveillance. Harman's SmartAuto technology, for instance, connects the dashboard camera to a vehicle through an onboard diagnostics (OBD)-II dongle, enabling features such as voice control, contextual alerts, and remote access.
Further, these advanced features enhance the overall driving experience while providing valuable data for medical compensation claims and insurance companies. The widespread acceptance of connected technologies in the automotive industry is fueling the adoption of automotive dashboard cameras, making them an essential component of modern vehicles.
The inconsistent quality of automotive dashboard cameras is a key challenge affecting the market growth. Automotive dashboard cameras, also known as Car DVRs, have gained significant popularity in recent years due to their role in enhancing vehicular safety and providing evidence in various scenarios. These devices come in various types, including single-channel, dual-channel, dual-channel IR, and 3-channel dashboard cameras. Single-channel cameras have one forward-facing camera, while multi-channel models capture video from multiple directions. The increasing instances of vehicular accidents, insurance claims, vehicle thefts, and fraudulent insurance claims have led to the widespread adoption of these devices. Insurance companies often require video evidence to determine fault and process claims more efficiently. Additionally, multi-channel dashboard cameras are increasingly being used to capture blind spots and aid collision avoidance systems.
However, automotive companies are also integrating these features into their vehicles to improve safety and reduce liability. Multi-channel dashboard cameras are particularly valuable in recording and preserving evidence in case of accidents or vandalism. The recorded footage can serve as crucial proof in insurance claims for compensation, especially in cases of medical compensation or disputed liability. Overall, the use of automotive dashboard cameras is expected to continue growing as more consumers prioritize safety and protection for their vehicles.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
70mai Co. Ltd. - The company offers automotive dashboard cameras such as Dash Cam Omni, Dash Cam 4K A800S, and Dash Cam Lite 2.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing number of car accidents, vehicle thefts, and fraudulent insurance claims. These devices, also known as car DVRs or dash cams, provide recorded footage as evidence in case of potential collisions, road mishaps, and insurance claims. Vehicles equipped with dashboard cameras offer benefits to both individual vehicle owners and commercial fleet operators. The automotive sector, including vehicle manufacturers and automotive companies, are integrating dashboard cameras as standard features in new cars. Regulatory bodies such as the Land Transportation Office and OEMs are also encouraging the use of these devices for enhanced vehicular safety.
Furthermore, the market can be segmented into the smart technology segment, which includes Wi-Fi-enabled models with mobile applications, GPS, and advanced features like driver assistance systems. The basic features segment, which includes 1-channel and 2-channel products, cater to the needs of various consumers, from motorists to commercial users, including trucking companies and taxi operators. Dashboard cameras offer benefits such as real-time monitoring, location tracking, driver behavior tracking, efficiency improvement, fuel costs reduction, productivity increase, insurance costs reduction, and discounts. The market is expected to grow further due to the increasing demand for evidence provision and the development of new technologies in the automotive sector.
Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 34.28% |
Market Growth 2024-2028 |
USD 9.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
25.64 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 38% |
Key countries |
US, Russia, UK, China, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
70mai Co. Ltd., ABEO Technology Co. Ltd., Anker Technology UK Ltd., Apeman International Co. Ltd., AUKEY Online, Cedar Electronics Corp., DOD Tech, Garmin Ltd., Harman International Industries Inc., HP Inc., JVCKENWOOD Corp., MiTAC Holdings Corp., Nexar Ltd., Nextbase, Panasonic Holdings Corp., PAPAGO Inc., Pittasoft Co. Ltd., Thinkware Corp., VANTRUE, and VIOFO Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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