Dashboard Camera Market

Dashboard Camera Market Size:

The global dashboard camera market size reached US$ 3.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.2 Billion by 2032, exhibiting a growth rate (CAGR) of 11.9% during 2024-2032. The market is experiencing steady growth driven by the increasing focus on evidence collection to reduce accidents, rising concerns about road safety, and technological advancements, such as ultra-high-definition 4K resolution to provide clear and detailed footage.

Dashboard Camera Market Analysis:

• Market Growth and Size: The market is witnessing strong growth on account of the insurance premium reductions, along with favorable government initiatives.
• Technological Advancements: Integration of features like global positioning system (GPS) tracking, motion detection, and improved night vision. These innovations enhance the functionality and appeal of dashboard cameras.
• Industry Applications: Dashboard cameras find applications in personal and commercial fleets.
• Geographical Trends: Europe leads the market, driven by the rising focus on road safety and traffic regulations in the region. However, North America is emerging as a fast-growing market due to the increasing need to reduce accidents and insurance fraud.
• Competitive Landscape: Manufacturers are working to reduce the production costs of dashboard cameras.
• Challenges and Opportunities: While the market faces challenges, such as constant recording and data storage, it also encounters opportunities on account of the integration of advanced driver-assistance systems (ADAS).
• Future Outlook: The future of the dashboard camera market looks promising, with advancements in camera technology. In addition, the rising focus on reducing accidents is projected to bolster the market growth.
   

Dashboard Camera Market Trends:

Rising concerns about road safety

The escalating demand for dashboard cameras on account of rising concerns about road safety is supporting the growth of the market. In line with this, the increasing adoption of vehicles among the masses across the globe is impelling the market growth. Moreover, individuals and organizations are increasingly preferring dashboard cameras as a proactive safety measure. These devices act as impartial witnesses, recording real-time events on the road, including accidents, reckless driving, and other incidents. Apart from this, dashboard cameras provide valuable evidence in the event of accidents, helping authorities and insurance companies determine faults accurately. This not only accelerates insurance claims but also discourages fraudulent claims. Furthermore, the presence of a dashboard camera can influence driver behavior positively, as individuals are more likely to drive responsibly when they know they are being recorded. In addition, the growing focus on road safety is offering a positive market outlook. Besides this, the rising need for dashboard cameras as a safety-enhancing tool is supporting the market growth.

Technological advancements

Innovations in the functionality and capabilities of dashboard cameras are propelling the growth of the market. In addition, modern dashboard cameras can capture video in ultra-high-definition 4K resolution, providing clear and detailed footage. This level of detail is crucial for recording important information, such as license plates and road signs. Besides this, artificial intelligence (AI)-powered dashboard cameras can analyze the road environment in real-time and offer features like lane departure warnings, collision detection, and adaptive cruise control. This integration enhances driver safety and assists with accident prevention. Moreover, the global positioning system (GPS) in dashboard cameras enables accurate location tracking and route mapping. This feature is valuable for documenting the exact location of incidents. Furthermore, dashboard cameras with cloud connectivity allow users to store footage remotely, access recordings from anywhere, and receive real-time alerts and notifications. This benefits in enhancing security and convenience. Additionally, advanced dashboard cameras are equipped with enhanced low-light and night vision capabilities, ensuring high-quality recordings in various lighting conditions.

Increasing focus on evidence collection

The rising employment of dashboard cameras for evidence collection is strengthening the growth of the market. In line with this, in the event of accidents or disputes on the road, these devices provide proven visual evidence that can be used in legal proceedings and insurance claims. The recorded footage captures the sequence of events, vehicle positions, and the behavior of all parties involved. This aspect is particularly valuable for drivers, as these devices record their behavior during an incident. This can be crucial when dealing with insurance companies, law enforcement, or other parties involved in a dispute. Furthermore, the evidentiary value of dashboard camera footage is increasingly recognized by legal authorities. Apart from this, the prospect of having concrete evidence at hand can also act as a deterrent to reckless driving and road rage incidents, contributing to improved road safety. As a result, people are increasingly preferring dashboard cameras as reliable evidence, which is bolstering the market growth.

Dashboard Camera Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on technology, product, video quality, application, and distribution channel.

Breakup by Technology:

• Basic
• Advanced
• Smart
   

Basic accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the technology. This includes basic, advanced, and smart. According to the report, basic represented the largest segment.

Basic dashboard cameras offer essential recording functionality and capture standard video footage in high definition (HD) or full high definition (FHD) resolutions. They are budget-friendly and slack advanced features like wireless fidelity (Wi-Fi) connectivity or advanced driver-assistance systems (ADAS) integration. These cameras are suitable for individuals who prioritize simple video recording without additional functionalities.

Advanced dashboard cameras offer enhanced features, such as integrated global positioning system (GPS) for location tracking, motion detection, parking mode for surveillance, and better low-light performance. They have built-in Wi-Fi, allowing users to connect to a smartphone app for real-time viewing and footage transfer.

Smart dashboard cameras incorporate artificial intelligence (AI) and ADAS features, such as lane departure warnings, collision detection, and adaptive cruise control. Smart dashboard cameras can provide real-time alerts to the driver, enhancing safety and driving assistance. They also offer cloud connectivity for remote access to recorded footage and more extensive functionality.

Breakup by Product:

• 1-Channel
• 2-Channel
• Rear View
   

1-channel holds the largest market share

A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes 1-channel, 2-channel, and rear view. According to the report, 1-channel accounted for the largest market share.

1-channel dashboard cameras, also known as single-channel or front-facing cameras, capture video footage from the front of the vehicle. These cameras are designed to record the road ahead and provide evidence in case of accidents or incidents involving the front of the vehicle. They are popular among vehicle owners who want basic recording functionality.

2-channel dashboard cameras, also known as dual-channel or front-and-rear cameras, consist of two camera units. These cameras simultaneously record video footage from both the front and rear of the vehicle. 2-channel cameras offer a more comprehensive view of the surroundings, including the road ahead and activity behind the vehicle. They are commonly used in personal vehicles and are also favored by commercial fleet operators to monitor drivers and enhance safety.

Rear view dashboard cameras focus on capturing video footage of the area behind the vehicle. These cameras are particularly useful for assisting with parking, reversing, and monitoring activity in the rear of the vehicle. They can be installed as standalone devices or as part of a 2-channel system to provide rear-facing coverage. Rear view cameras are popular among drivers looking to improve their parking and reversing abilities.

Breakup by Video Quality:

• SD and HD
• Full HD and 4K
   

SD and HD represent the leading market segment

The report has provided a detailed breakup and analysis of the market based on the video quality. This includes SD and HD and full HD and 4K. According to the report, SD and HD represented the largest segment.

Standard definition (SD) and high definition (HD) offer various advantages to users. SD dashboard cameras capture video footage at a lower resolution as compared to HD, Full HD, and 4K cameras. The video quality is generally lower in terms of clarity and detail. These cameras are budget-friendly and suitable for users who prioritize cost-efficiency over high-resolution recording. Besides this, HD dashboard cameras capture video in 720p resolution, providing a significant improvement in video quality as compared to SD cameras. The footage is clearer and more detailed, making it easier to identify objects and read license plates.

Full HD and 4K provide numerous benefits to the users. Full HD dashboard cameras record video in 1080p resolution, offering higher clarity and detail as compared to HD cameras. The footage is sharp and provides clear visuals, which can be crucial for capturing important details in accidents or incidents. 4K dashboard cameras are at the top of the line, capturing video in ultra-high-definition resolution (3840 x 2160 pixels). These cameras offer the highest level of video clarity and detail, making them ideal for capturing fine details, license plates, and road signs.

Breakup by Application:

• Commercial Vehicle
• Personal Vehicle
   

Personal vehicle exhibits a clear dominance in the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes commercial vehicle and personal vehicle. According to the report, personal vehicle represented the largest segment.

Personal vehicle dashboard cameras are used in individual cars, sports utility vehicles (SUVs), and other non-commercial vehicles. They serve a variety of purposes, including recording road trips, capturing evidence of accidents, and enhancing overall safety. Personal vehicle dashboard cameras are available in a range of configurations, ranging from basic front-facing units to 2-channel systems that offer front and rear coverage.

Commercial vehicle dashboard cameras are designed for use in vehicles used for business purposes. This category includes trucks, vans, delivery vehicles, taxis, buses, and other types of commercial transport. These cameras are often used by organizations to monitor driver behavior, enhance fleet management, improve security, and reduce accidents. These cameras can lower insurance costs, improve efficiency, and protect both drivers and assets.

Breakup by Distribution Channel:

• Online Stores
• In-store
   

In-store represents the biggest market share

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online stores and in-store. According to the report, in-store represented the largest segment.

In-store is a traditional brick-and-mortar retail channel, where individuals can purchase these cameras from physical stores. In-store sales offer the advantage of immediate product availability and the ability to physically inspect and compare different models before making a purchase decision.

Online stores offer dashboard cameras through e-commerce platforms, where people can browse, select, and purchase dashboard cameras from various online retailers and marketplaces. This channel offers a wide range of options and often provides detailed product descriptions, reviews, and ratings of clients to assist buyers in making informed choices. Online sales provide the convenience of shopping from home.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Europe leads the market, accounting for the largest dashboard camera market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Europe accounted for the largest market share due to the rising focus on road safety and traffic regulations. In addition, stringent road safety standards in the region are bolstering the market growth.

North America stands as another key region in the market, driven by the increasing adoption of dashboard cameras for recording incidents, monitoring driver behavior, and enhancing overall road safety. Additionally, the rising focus on reducing accidents and insurance fraud is impelling the market growth.

Asia Pacific maintains a strong presence in the market, with the growing number of ridesharing and delivery services. Apart from this, the increasing adoption of dashboard cameras due to their cost-effectiveness is supporting the market growth.

Latin America exhibits growing potential in the dashboard camera market on account of the rising focus on road safety among the masses. In addition, favorable government initiatives are contributing to the growth of the market in the region.

The Middle East and Africa region shows a developing market for dashboard camera, primarily driven by the increasing utilization of dashboard cameras among logistics companies. Furthermore, the rising awareness among individuals about dashboard cameras as a safety tool is propelling the market growth.

Leading Key Players in the Dashboard Camera Industry:

Key players are developing dashboard cameras with advanced features and capabilities. They are improving video quality, adding GPS tracking, enhancing night vision, and integrating artificial intelligence (AI) for features like advanced driver-assistance systems (ADAS). In addition, many manufacturers are working to reduce the production costs of dashboard cameras, making them more affordable for a broader consumer base. They are also diversifying their product offerings, providing individuals with a wide range of options. Furthermore, companies are staying updated with regional regulations related to privacy and data protection. They ensure their products comply with laws to avoid legal issues and build trust among people.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• ABEO Technology CO. Ltd
• Aiptek International GmbH
• Amcrest Technologies Llc
• CNSLink Ltd.
• Cobra Electronics Corporation (Cedar Electronics Corporation)
• DigiLife Technologies Co. Ltd. (KYE Systems Corp.)
• DOD Technologies Inc
• Garmin Ltd.
• LG Electronics Inc.
• Panasonic Corporation
• Pittasoft Co. Ltd.
• Steelmate Co. Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• August 10, 2022: Garmin Ltd. announced the Garmin DriveCam™ 76 and RVcam 795 all-in-one navigators with a built-in, high-definition dash cam1. Both models feature a sharp 7-inch display, 1080p HD video recording and a wide 140-degree field of view to capture a broad picture of the road ahead.    
• November, 2021: Cobra Electronics Corporation (Cedar Electronics Corporation) unveiled the newest addition to its existing Cobra SC Series lineup, the Cobra SC 400 and SC 400D smart dash cameras. The new dash cams empower drivers to be more aware of what is happening on their drive and are equipped with Ultra HD 4K video resolution.

Dashboard Camera Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the dashboard camera market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global dashboard camera market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the dashboard camera industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.