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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 automotive dashboard camera industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The rising number of road accidents and the subsequent need for visual evidence to validate insurance claims and prevent fraudulent activities are driving the demand for automotive dashboard cameras In the passenger car market. Insurance companies, particularly in Europe and Asia Pacific, offer discounts on insurance premiums for vehicles equipped with professionally installed dashboard cameras. These devices provide crucial evidence in case of potential collisions, road mishaps, or incidents, ensuring transparency and accountability. Additionally, dashboard cameras offer advanced features such as blind spot detection, collision avoidance systems, and real-time monitoring for commercial fleet operators and individual vehicle owners. These features enhance safety, improve efficiency, reduce fuel costs, and increase productivity.
Dashboard cameras are also integrated with smart technology, including Wi-Fi-enabled models and mobile applications, to provide GPS location tracking and driver behavior monitoring. The automotive sector's increasing focus on safety and regulation further emphasizes the importance of dashboard cameras as a valuable investment for both commercial and individual vehicle owners.
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The Passenger cars segment was valued at USD 995.50 billion in 2018 and showed a gradual increase 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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Dashboard cameras, also known as car DVRs, are increasingly being adopted by vehicles owners and commercial fleet operators in Europe, particularly in countries like Russia, Germany, and the UK. The primary reason for this trend is the high incidence of road accidents and disputes over insurance claims, which has led to a significant number of false accusations. In Russia, where road safety and law enforcement are weak, dashboard cameras have become essential safety accessories due to the harsh road conditions and high rate of vehicle thefts and fatalities. As a result, dashboard cameras are being used to provide evidence in case of accidents, potential collisions, and road mishaps.
Advanced features such as blind spot detection, collision avoidance systems, and real-time monitoring are also driving the demand for these devices. Dashboard cameras offer benefits such as efficiency improvement, fuel costs reduction, productivity increase, and insurance costs reduction through discounts for evidence provision. The automotive sector, including vehicle manufacturers and the Land Transportation Office, is also regulating the use of dashboard cameras to ensure safety and reduce fraudulent insurance claims. The market for dashboard cameras is expected to grow significantly due to the increasing demand for driver behavior tracking, location tracking, and advanced features such as Wi-Fi-enabled models and mobile applications with GPS.
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.
Increasing popularity of connected technologies in dashboard cameras is the upcoming market trend.
What challenges does the Automotive Dashboard Camera Industry face during its growth?
Inconsistent quality of automotive dashboard cameras is a key challenge affecting the industry growth.
Exclusive Customer Landscape
The automotive dashboard camera 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 automotive dashboard camera market 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, automotive dashboard camera market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
70mai Co. Ltd. - The market encompasses a range of recording devices designed for in-vehicle surveillance. These devices, including the Dash Cam Omni, Dash Cam 4K A800S, and Dash Cam Lite 2, capture footage of a vehicle's interior and exterior, providing valuable evidence in case of accidents or theft. With advanced features such as high-definition recording, loop recording, and motion detection, these devices offer enhanced safety and security for drivers. The market for automotive dashboard cameras continues to grow as consumers seek innovative solutions to protect their vehicles and ensure peace of mind on the road.
The industry 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 industry 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 encompasses a range of technologies designed to enhance vehicle safety and security. These devices, also known as dash cams, capture footage of a vehicle's journey, providing valuable evidence In the event of potential collisions or road mishaps. The market for these products has experienced significant growth in recent years due to various factors. One key driver of the market is the increasing concern for vehicular safety. With the number of motor vehicle crashes and resulting fatalities on the rise, there is a growing demand for technologies that can help prevent accidents or provide evidence In the event of one.
Dashboard cameras offer a solution by recording footage of the road ahead, providing valuable evidence in case of an accident or insurance claim. Another factor contributing to the growth of the market is the potential for cost savings for both commercial fleet operators and individual vehicle owners. By using dash cams for real-time monitoring, fleet managers can improve efficiency, reduce fuel costs, and increase productivity. Additionally, some insurance companies offer discounts for vehicles equipped with dash cams, as the recorded footage can help prove fault In the event of an accident and reduce fraudulent insurance claims. The automotive sector has also seen a shift towards the integration of smart technology in vehicles.
Dashboard cameras are no exception, with wi-fi-enabled models and mobile applications becoming increasingly popular. These advanced features allow for easy access to footage and real-time monitoring, making dash cams more convenient and useful for consumers. The market can be segmented into several categories based on features and applications. The basic features segment includes 1-channel products, which record footage from a single camera angle. The advanced features segment includes multi-channel cameras, which offer multiple recording angles, and cameras with driver assistance features such as blind spot detection and collision avoidance systems. The market for automotive dashboard cameras is not limited to developed regions.
Developing regions are also seeing significant growth In the market, as the demand for safer and more secure vehicles increases. The market is expected to continue growing In the coming years, as more and more consumers and commercial users recognize the benefits of these technologies. In conclusion, the market is a growing industry that offers a range of benefits for both individual vehicle owners and commercial fleet operators. From enhancing vehicular safety to reducing insurance costs and improving productivity, dash cams provide valuable solutions for the automotive sector. With the integration of smart technology and the increasing demand for safer and more secure vehicles, the market for automotive dashboard cameras is poised for continued growth.
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Market Scope |
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Report Coverage |
Details |
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Page number |
170 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 34.28% |
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Market growth 2024-2028 |
USD 9869.1 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
25.64 |
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Key countries |
US, Russia, UK, China, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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