Global Dashboard Camera Market To Be Dominated By Europe During The Forecast Period

The global dashboard camera market size was worth around USD 4.5 billion in 2022 and is predicted to grow to around USD 17.01 billion by 2030 with a compound annual growth rate (CAGR) of roughly 20.98% between 2023 and 2030.

The dashboard camera industry deals with the economic aspects of designing, production, and distribution of dashboard cameras also known as dash cams. They are compact and portable devices that are mounted on a vehicle's dashboard or windshield and used to record footage of the road ahead while driving or stationary. Some dash cams provide only a single few which typically consist of the road ahead of the vehicle; however, in recent times, manufacturers have introduced products with a wider video capturing range. Some advanced dashcams are equipped with additional features such as built-in GPS, Wi-Fi connectivity, motion sensors, parking mode, and collision detection. It is an evolving market as newer products are being introduced for commercial purposes. However, government regulations play a crucial role in shaping industry growth in economic locations.

This review is based on a report by Zion Market Research, titled "Dashboard Camera Market By Vehicle Type (Commercial Vehicles, Passenger Vehicles, And Others), By Channel Type (Dual-Channel, Single-Channel, And Others), By Technology Type (Smart, Advanced, Basic, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030"- Report at https://www.zionmarketresearch.com/report/dashboard-camera-market

The global dashboard camera market is projected to grow due to the increasing number of vehicles on the road including passenger cars, commercial vehicles, and public or private road transport automobiles. A recently published report claimed that the average volume of traffic on national highways in China in 2021 recorded nearly 14,993 vehicles every day. The number is an increase of 4.2% from last year. Such trends are observed globally. This has resulted in increased demand for measures promoting road safety and dashcams are effective in achieving the vision. Furthermore, changing legislations in several economies are mandating the use of dash cams. For instance, Russia has been a pioneer in the application of dashboard cameras to fight road rage. The mandates apply to all commercial vehicles in the country.

In recent times, the technology used for dash cam has undergone tremendous development. Modern-age devices have better video quality, wider viewing angles, night-time vision, and other benefits. Many devices are equipped with artificial intelligence (AI) algorithms that make the device more appealing. The increasing influence of viral video concepts and social media remains undeniable as there is multiple footage on video-sharing platforms showcasing close calls or unusual events.

However, the global dashboard camera industry is also plagued with several growth limitations. The primary being the lack of standardized regulations since laws related to the use of dashboard cameras may vary depending on the nation. Moreover, dash cams may showcase limited functionality in case of severe accidents in which the camera itself is damaged. Installation and maintenance costs may act as a growth barrier.

The growing investment toward integration with advanced driver-assistance systems (ADAS) may provide growth opportunities while reliability and durability could challenge market expansion.

The global dashboard camera market is segmented based on vehicle type, channel type, technology type, and region.

Based on vehicle type, the global market divisions are commercial vehicles, passenger vehicles, and others.

Based on channel type, the global market is divided into dual-channel, single-channel, and others. The dashboard camera industry growth was led by the single-channel segment in 2022. They are the most basic types of dashboard cameras and consist of a single camera unit. They are primarily used to capture the front view and are more suitable for personal use. Dual-channel dash cams consist of two camera units. They are also known as dual lenses or front and rear dash cams. One camera records the front view while the other is mounted on the rear windshield and records the view behind the vehicle. Dual-channel cameras provide additional coverage and are highly popular among commercial vehicle owners or individuals who want comprehensive video coverage for insurance purposes and other reasons. Most commercially available dash cams start at a quality grade of 720p and may go up to 1080p or more.

Based on technology type, the global industry segments are smart, advanced, basic, and others. The segmental growth was dominated by basic technology as they offer essential features and basic functionality. The price is lower as compared to others and hence is more cost-effective for everyday use. They are designed to capture video footage of the road ahead. Such dashcams have a simpler user interface with limited additional features and standard video quality. Advanced cams offer upgraded capabilities such as enhanced video quality, higher-resolution sensors, and improved low-light performance. Some models may also offer Bluetooth and Wi-Fi connectivity. Smart cams are the most advanced versions and offer features such as live-view, video playback, and video sharing. A basic dash cam may cost between USD 60 to USD 150.

Europe is projected to lead the global dashboard camera market with the highest CAGR during the forecast period due to increased initiatives undertaken by regional governments to improve road safety. Additionally, growing consumer awareness about the measures that can be adopted to ensure that personal interests are safeguarded in case of road rage or accidents has acted as a crucial revenue contributor. Mandates laid down by European heads have caused the majority of commercial fleet owners to install dash cams in vehicles.

North America may register high growth due to the presence of key players and manufacturers of dashboard cameras along with consistent research and development to ensure product innovation and market lead. The Asia-Pacific region is expected to grow at a steady rate due to growing product awareness and a high rate of vehicular traffic. Moreover, product innovation undertaken by automobile manufacturers could drive regional market expansion.

Recent Developments:

• In May 2023, automobile manufacturer Hyundai announced its intention to launch a brand new model in the existing range of compact sport utility vehicles (SUV). The model will be called EXTER and is expected to be equipped with advanced features such as a sunroof and dash cam with dual cameras along with a 2.31-inch digital display
• In June 2023, THINKWARE, a leading dash cam manufacturer, launched the U3000 dash cam which offers increased compatibility. The product will be available in the North American market
• In May 2023, Nextbase launched Nextbase iQ which is a next-generation in-car driver assistance and security system. It is expected to be available in the spring of 2023

Dashboard Camera Market: Competitive Analysis

The global dashboard camera market is led by players like:

• Garmin
• Nextbase
• Thinkware
• BlackVue
• VIOFO
• Rexing
• Vantrue
• Anker Roav
• Transcend
• AUKEY
• Crosstour
• Yi Technology
• APEMAN
• Papago
• Cobra Electronics
• FalconZero
• Pyle
• Azdome
• Old Shark
• Blueskysea
• WheelWitness
• Street Guardian
• Spy Tec.

The global dashboard camera market is segmented as follows:

By Vehicle Type

• Commercial Vehicles
• Passenger Vehicles
• Others

By Channel Type

• Dual-Channel
• Single-Channel
• Others

By Technology Type

• Smart
• Advanced
• Basic
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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