According to Syndicate Market Research, the global dash cam market size in terms of revenue was valued at around USD 3.45 billion in 2023 and is expected to reach a value of USD 7.86 billion by 2030, growing at a CAGR of roughly 9.58% from 2024 to 2030. The global dash cam market is projected to grow at a significant growth rate due to a number of driving factors.
Dash Cam Market: Overview
Dashboard cameras, also known as dashcams, car DVRs, event data recorders (EDRs), and driving recorders, are portable onboard cameras mounted in a car's windscreen. A small video camera on the dashboard or windscreen of passenger cars and commercial vehicles like lorries and trailers is called a "dashboard camera." Government measures and public awareness of in-car safety should fuel market growth. Dashboard cameras' popularity and profitability in Russia, France, and Canada are expected to drive market expansion in the future years. The rise in auto thefts and traffic accidents worldwide has fuelled product demand in recent years. Dashboard cams assist prevent insurance fraud, intentional accidents, and bogus claims. Revenue has also increased due to dashcam regulations in the US, Philippines, and Russia. Favorable insurance company policies that discount vehicles with these cameras should help boost the sector.
Key Highlights
Dash Cam Market Dynamics: Growth Drivers
The growing number of dashboard cameras can be attributed to the continual increase in global theft and traffic accident incidents. In the event of a collision or high-stress situation involving a vehicle, dashcam footage provides accurate information regarding the culpable party. The ability of a dashboard camera to identify negligent drivers and offenders in parking lot collisions is an additional noteworthy advantage. These benefits stimulate an increase in demand, thereby enhancing revenue generation.
This may result in reduced insurance premiums and accelerated insurance claim processing. As the number of auto burglaries has increased significantly in recent years, the market for dashboard cameras has expanded at a rapid rate. Due to the proliferation of such devices, a number of governmental bodies have implemented mandatory dash cam installations, thereby stimulating the growth of the industry. It is expected that an increase in vehicle larceny will stimulate a surge in demand for dashboard cameras in the coming years.
Global Dash Cam Market 2024 Size by Region
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Restraints
After airbag malfunction issues, automakers started using digital recorders. This advanced airbag technology and protected the corporation. Due to car computerization, advanced electronics, and data sharing between cars and connected devices, dashboard camera data may have unforeseen benefits. Most dashboard camera systems contain built-in GPS or a GPS module port. Telecommunications carriers save location data in their databases using these GPS units. Personal security may be compromised if user-sensitive location data is stolen.
Some rules allow government agencies to obtain user data without consent. Dashboard cam prohibitions in some European nations may hurt market growth. Dashboard cameras discreetly record people without their consent, which some nations say violates their privacy.
Opportunities
In order to improve security, motorist tracking, and productivity, industrial transport fleets are increasingly adopting dashboard cam technology. This is being done as a strategy to boost driver safety. This sector offers a significant window of opportunity for business growth.
Challenges
The absence of defined legislation regarding the usage of dash cams and the security of user data might lead to misunderstanding and hinder the spread of the market. The burden of overcoming these regulatory hurdles is squarely on the shoulders of the manufacturers.
Dash Cam Market: Segmentation Analysis
The global dash cam market is divided by technology, product, resolution, and application.
By technology, the market is divided into basic, advanced, and smart. In terms of revenue, the smart dashboard camera market is projected to expand at the maximum CAGR from 2023 to 2030, exceeding 17.2%. The growth of this market will be propelled by factors such as uncomplicated installation, high-quality lenses, and an extensive array of control options, including smartphone integration. The market is anticipated to experience substantial growth during the forecast period as a result of the increasing need for sophisticated driver assistance features such as collision avoidance systems, lane departure warning systems, and blind-spot recognition. Leading firms in the industry are engaged in the development and promotion of dashboard cameras that are loaded with features. One notable attribute of these dashcams is their ability to be integrated with a variety of supplementary technologies, such as telematics and vehicle data monitoring.
By Resolution, the market is divided into HD, full HD, 4k and above. Volume-wise, the full HD and 4K segment is anticipated to generate the maximum CAGR throughout the period of forecast. This is because their capability to record movies at a higher resolution is admissible in tribunals, law enforcement, and insurance companies as evidence. The ability to capture video at an exceptionally high resolution renders Full HD and 4K dashboard cameras well-suited for utilization as admissible evidence in courtrooms, by law enforcement agencies, and by insurance companies. There has been a substantial rise in the adoption of low-resolution DVRs alongside full HD and higher resolution cameras by drivers, including commercial fleet operators and individual drivers.
Recent Developments
Report Attributes | Report Details |
---|---|
Report Name | Blockchain Technology |
Market Size in 2023 | USD 3.45 billion |
Market Forecast in 2030 | USD 7.86 billion |
Growth Rate | CAGR of 9.58% |
Number of Pages | 130 |
Key Companies Covered | ABEO Technology, Cobra Electronics Co, DOD TechDJI, Falcon Zero LLC, Garmin Ltd., Panasonic Corporation, Pittasoft Co. Ltd., and others. |
Segments Covered | By Technology, By Product, By Resolution, and By Application |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Dash Cam Market: Regional Analysis
In 2023, Europe held the largest market share on a global scale. This may be attributable to the increasing prevalence of dashcams among Russian motorists as a safety measure. Furthermore, it is expected that the need to protect automobiles from con artists who intentionally shatter windshields in order to deceive insurance companies for financial benefit will stimulate market growth.
Most people in countries such as Russia install dashboard cameras in their personal vehicles due to the high accident rates, pervasive police corruption, hazardous driving conditions, and affordable and readily available technology.
Dash Cam Market: Competitive Landscape
Some of the major players in the global dashboard camera market include:
The global dash cam market is segmented as follows:
By Technology
By Product
By Resolution
By Application
By Region
Frequently Asked Questions:
What are the key factors driving global dash cam market growth?
The global dashboard camera market is expected to be driven by rising auto sales, automotive industry growth, favourable insurance policies, an increase in thefts and traffic accidents, the incorporation of many safety components into vehicles, and practical dashboard camera installation mandates.
What will be the CAGR of global dash cam market?
The global dash cam market is growing at a CAGR of around 9.58% during the forecast period (2024-2030).
What will be the value of the dash cam market during 2024- 2030?
According to Syndicate Market Research, the global dash cam market size was estimated at approximately $ 3.45 billion in 2023 and is expected to generate revenue of around $ 7.86 billion by 2030.
Which region will drive global dash cam market revenue?
Europe region will dominate the global dash cam market.
Who are the key players operating in the global dash cam market growth?
Some major players covered in the global dash cam market are; ABEO Technology, Cobra Electronics Co, DOD TechDJI, Falcon Zero LLC, Garmin Ltd., Panasonic Corporation, Pittasoft Co. Ltd., and others.
These players adopted different strategies so as to hold major market share in this market. Some of the major players in Dash Cam industry includes.
Based on the Dash Cam market analysis, North America is predicted to held the highest share in the Dash Cam market during the forecast period.
The statistical data of the top market players of Dash Cam industry can be obtained from the company profile section specified in the report. This section incorporates analysis of top player’s operating in the Dash Cam industry as well as their last five-year revenue, segmental revenue, product offerings, key strategies adopted, and geographical revenue produced.
The study offers a decisive view on the Dash Cam by segmenting the market based on Product Type, Application, and region.
The report gives a nitty-gritty assessment of the market by featuring data on various viewpoints that incorporate drivers, restraints, opportunities, and threats. This data can assist stakeholders in making suitable decisions before investing.
The sample for Dash Cam market report can be received on-demand from the website as and when required.Direct call services or 24*7 chat support are provided to procure the sample report.
List of Figures
List of Tables
1.1 Research Methodology
The process of market research at Syndicate Market Research is an iterative in nature and usually follows following path. Information from secondary is used to build data models, further the results obtained from data models are validated from primary participants. Then cycle repeats where, according to inputs from primary participants, additional secondary research is done and new information is again incorporated into data model. The process continues till desired level of information is not generated.
To calculate the market size, the report considers the revenue generated from the sales of the market providers. The revenue generated from the sales of market is calculated through primary and secondary research. The key players operating in the market across the globe are identified through secondary research and a corresponding detailed analysis of the top vendors in the market is done. The market size calculation also includes clinical trial phase segmentation determined using secondary sources and verified through primary sources.
1.2 Secondary Research
The secondary research sources that are typically referred to include, but are not limited to:
The sources for secondary research includes but is not limited to: Factiva, Hoovers and Statista
1.3 Primary Research
We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following functions:
The participants who typically take part in such a process include, but are not limited to:
1.4 Models
Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data types to produce estimates:
Data is then cross checked by the expert panel.
1.4.1 Company Share Analysis Model
Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:
1.4.2 Revenue Based Modeling
Revenue based models can be built in two ways - Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach where as it acts as starting point for top-down approach.
1.5 Research Limitations
Inflation is not a part of pricing in this report. Prices of the products and its derivatives vary in each region and hence similar revenue ratio does not follow for each individual region. The same price for each type has been taken into account while estimating and forecasting market revenue on a global basis. Regional average price has been considered while breaking down this market by end user in each region.
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