The dashboard camera market size is projected to reach US$ 11,002.21 million by 2031 from US$ 2,833.69 million in 2023. The market is expected to register a CAGR of 18.5% during 2023–2031. The increasing demand for the autonomous cars driving the trend in the market.
The rising frequency of automobile thefts and road accidents globally has driven up product demand over the last few years. Dashboard cams can also help avoid insurance fraud, such as deliberately causing vehicle damage to avail false insurance claims. Regulatory reforms supporting the installation of dashcams in cars for security and safety measures in numerous countries, including the US, the UK, and Russia, have also helped generate revenue. For example, dashcams are legal to own and use in the US, as their installation does not impede or break any laws. Several prominent automotive accessories providers integrate the Advanced Driver Assistance System (ADAS) system with the dashcam. For example, Harman International offers the HARMAN smart/auto VISION, a connected automotive ADAS dashcam that incorporates on-board cameras, including the front and driver-facing views. Dashboard camera enables remote vehicle surveillance features that support voice control, contextual alerts, driver distraction and drowsiness warnings, lane departure and collision warnings, and pedestrian detection.
Many dashboard cameras or dashcams face forward and point outward from behind the windshield for the video to match the driver's view. Several dashboard cameras record driver action by facing backward and aiming at the vehicle's inside. Dashcams for fleets are frequently linked to fleet management software, giving organizations real-time access to recordings of driver conduct incidents, such as risky or distracted driving. Dashboard cameras benefits businesses by reducing accidents, increasing the chances of fewer insurance premiums, boosting driver retention, reducing fuel cost and impact on the environment, decreasing ownership costs through lower repair fees and maintenance, and providing incident protection. The dashboard camera market ecosystem comprises the following stakeholders – hardware/component providers, dashboard camera manufacturers, system integrators and end users. Major players occupy significant places in the various nodes of the dashboard camera market ecosystem. The hardware/component providers supply the electrical components that are rated for required temperatures, accelerometers, motion sensors, camera sensor, strong adhesive, processor, and GPS among others. OEMs in the global dashboard camera market carry out various processes such as designing, assembling, and transformation of raw materials into finished products. System integrators bring the component subsystems together ensuring that they operate efficiently.
Rising number of road accidents, car thefts, and insurance fraud have increased the demand for the global dashboard camera market. Moreover, favourable government and insurance company policies to offer discounts to cars equipped with dashboard cameras is anticipated to present significant opportunities for the companies planning to enter this market. The count of road accidents has been increasing since the past decade with the rising number of vehicles on city and highway roads. According to a report by the World Health Organization (WHO), every year, ~1.3 million people lose their lives due to traffic accidents. Non-fatal injuries impact ~20‒50 million people annually, resulting in disability and consequent loss of income. Individuals, families, and national economies incur significant economic losses due to road traffic injuries
High-tech dashboard cameras available in the market use computer vision and artificial intelligence to evaluate video records, giving them a better understanding of driver activities, such as cell phone use, eating, and weariness while driving. In August 2021, KeepTruckin, a market leader in fleet management technology, launched a new AI Dashcam powered by a sophisticated AI processor and intelligent computer vision algorithms for instant detection of unsafe driving with unrivaled accuracy and alert drivers in real-time. An advanced safety platform supports dashcams, leading to transformation in fleet management and enhanced driver safety. Similarly, the Nextbase 522GW high-tech dashboard camera integrates an intelligent parking mode for automatic recording if any bumps or movements are detected on the vehicle. The device also includes a 3-inch HD IPS display with Alexa-integrated playback, easy sharing, and menu selection.
Key segments that contributed to the derivation of the dashboard camera market analysis are technology, product type, video quality, application, and geography.
The geographic scope of the Dashboard Camera market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific has largest share in the dashboard camera market owing to increased sale of EVs in this region. Rise in consumer demand for expensive features in automobiles is encouraging manufacturers to invest in high-end technological solutions. The car industry was the first economic victim of COVID-19 in China with the shutdown of major automotive production sites and manufacturing plants. The automotive market in Asia Pacific region continued to rebound strongly in 2021. Industry experts expect the automakers' margins to improve in FY22. The market rebound is encouraging the growth of dashboard camera solutions. In most countries, subsidies are a critical tool for maintaining the EV policy due to higher vehicle costs. The Japanese government arranged for US $77.1 million of EV subsidies in January 2021 to boost BEV sales. A number of new venture firms are emerging in the electric vehicle market in China, Japan and South Korea which is estimated to provide lucrative growth opportunities for the dashboard camera market.
The regional trends and factors influencing the Dashboard Camera Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Dashboard Camera Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2,833.69 Million |
| Market Size by 2031 | US$ 11,002.21 Million |
| Global CAGR (2023 - 2031) | 18.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Dashboard Camera Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Dashboard Camera Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The dashboard camera market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Dashboard Camera Market are listed below:
The “Dashboard Camera Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific is expected to dominate the dashboard camera market in 2023.
Rising sale of the electric vehicles around the globe drives the market growth.
The increasing uptake of super charging cables and connectors driving the trend in the market.
ABEO Technology; Garmin Ltd; Pittasoft Co. Ltd; Falcon Electronics LLC; Panasonic Corporation; Cobra Electronics Co; Safe Cams; Thinkware; Harman International; and LG Innotek among others, are some of the leading players in the dashboard camera market.
The dashboard camera market size is projected to reach US$ 11,002.21 million by 2031 from US$ 2,833.69 million in 2023.
The market is expected to register a CAGR of 18.5% during 2023–2031.