According to the latest report by IMARC Group, titled "Dashboard Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global dashboard camera market reached a value of US$ 3.1 Billion in 2021. A dashboard camera, or dashcam, is a camera fixed on the vehicle's front windscreen and sometimes rear windows. These cameras are generally installed on the dashboard or vehicle's windscreen of passenger automobiles and commercial vehicles, such as trucks and trailers. These cameras are conveniently placed to observe the road ahead and use the vehicle's electrical system to operate. They feature manual and automated controls, with the automatic system starting as soon as the car's ignition is turned on. They exhibit cost-effective benefits for car users with lower insurance premiums.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Dashboard Camera Market Trends:
The global market is primarily driven by the increasing awareness regarding vehicular safety. In line with this, quicker insurance claims and protection against rising vehicle thefts are positively influencing the market. Furthermore, a growing number of fraudulent insurance claims and medical compensation using fake car accidents is catalyzing the uptake of dashboard cameras across the globe. Apart from this, increased product adoption in commercial vehicles for monitoring and safety purposes is significantly contributing to the market growth. Moreover, the escalating demand for multiple-channel dashcams for detailed and live monitoring is creating a positive outlook for the market. Besides this, numerous market players are constantly offering extra features at lower prices, thereby driving the demand for advanced and smart technology dashcams. Additionally, the increasing cases of road accidents and collisions from the rear end of vehicles are providing a boost to the product demand. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.6 Billion by 2027, exhibiting a CAGR of 13.62% during 2022-2027.
- On the basis of the technology, the market has been segmented into basic, advanced, and smart.
- Based on the product, the market has been categorized into 1-channel, 2-channel, and rear view.
- On the basis of the video quality, the market has been classified into SD and HD, and full HD and 4K.
- On the basis of the application, the market has been segmented into commercial and personal vehicle.
- On the basis of the distribution channel, the market has been classified into online stores and in-store.
- On the basis of the region, the market has been divided into 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.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players 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. and Steelmate Co. Ltd.
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