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Dashboard Camera Market Size, Share, 2020-2027 | Industry Report

Dashboard Camera Market Analysis Report By Technology, By Product, By Video Quality, By Application, By Distribution Channel, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17617454  |  Published: September 2020  |  No of Pages: 140
Format: Electronic (PDF)  |  Industry: Automotive and Parts  |  Publisher: Grand View Research

Industry Insights

The global dashboard camera market size was accounted for USD 2.8 billion in 2019. It is projected to witness a CAGR of 12.9% over the forecasted years, 2020 to 2027. The increasing need to ensure vehicle safety and security coupled with the initiatives being undertaken by governing authorities for the promotion of these products is expected to propel the market growth.

Rising inclination towards the adoption of these devices for seeking legal protection against accidents and mishaps is gaining traction. Moreover, footage of road accidents and crashes can be captured with these devices, thereby creating significant awareness among the millennial population about safety and security while driving.

Europe dashboard camera market

These cameras are gaining wide popularity due to their ability to control over on-road security and permit the recording of collisions and accidents of vehicles. The footages obtained with these cameras are widely being used for claiming insurances and proving liability. Thus, majority of the insurance companies are promoting usage of such cameras that can help them to identify right and false claims.

Many law enforcement agencies have started adopting car DVRs and dashcams. Thus, there has been a significant rise in their installations across passenger and commercial vehicles. Owing to this shifting trend, several disputes regarding claims have been resolved, which is projected to drive market growth across the globe in the upcoming years.

Technology Insights

The basic technology segment accounted for the largest share across the global market in 2019. It is also anticipated to continue its dominance and register a CAGR of around 15.0% in the upcoming years. This can be associated with its features like low-cost price and easy installation as compared to the other types.

In 2019, the segment of the advanced dash cams was valued at around 10 million in terms of units. It is also expected to register a CAGR of around 15.0% over the forecasted period, 2020 to 2027. This can be attributed to the integration of technologies like GPS support, Wi-Fi connectivity, and parking motion detection systems in these dashcams.

Product Insights

In 2019, the 1-Channel dashboard cameras segment generated a revenue of USD 2.0 Billion across the global market. It is also anticipated to register the highest revenue from 2020 to 2027. This growth can be attributed to the reduction in the selling prices of these cameras since the last few years coupled with the surging need to record the front road of the vehicle.

The 2-channel segment is also expected to gain traction in the upcoming years. This can be associated with the rising popularity among taxi operators and trucking companies due to their feature of upgrading another secondary unit for capturing the footage of the vehicle’s interior.

Video Quality Insights

The SD & HD video quality segment accounted for the largest share across the global market in 2019. It is also expected to continue its dominance over the forecasted period. This can be attributed to their feature of recording low-resolution and longer-loop videos in limited memory sizes.

The segment of full HD & 4K dashcams is anticipated to witness significant growth with more than 16.0% CAGR in the upcoming years. It is also expected to gain a share of around 30.0% across the global market by 2027. This can be associated with their feature of recording videos at a higher resolution that can act as permissible evidence by legal authorities, police, and insurance companies.

Application Insights

The global dashboard camera market can be segmented into personal vehicles and commercial vehicles based on the application type. The segment of personal vehicles is anticipated to register the fastest growth from 2020 to 2027. Rising demand for personal vehicles prevailing among the millennial population coupled with the imposition of stringent rules and regulations by governing bodies for ensuring road safety are expected to contribute majorly towards the market growth.

These dashcams are being integrated into vehicles with several driver-assisting functionalities. Further, the initiative undertaken by transport authorities of several countries over the adoption of in-vehicle cameras across commercial and private vehicles is also projected to propel the market demand for such cameras.

Distribution Channel Insights

The global market for dashboard cameras can be classified as in-store and online based on the distribution channel. In 2019, the in-store distribution channel segment dominated the global market. This can be attributed to the prevailing preference among consumers to physically verify and test the product before making the buying decision. Moreover, sample product demonstration provided by the retail stores is also estimated to propel the market growth for this segment.

China dashboard camera market

The online segment is projected to gain momentum in the upcoming years. This can be attributed to the surging number of offers and discounts offered by e-commerce retailers. Moreover, a hassle-free replacement policy, doorstep delivery, and availability of a wide range of options on a single platform for comparison are expected to trigger up the market growth for this segment from 2020 to 2027.

Regional Insights

In 2019, Europe held the largest share across the global market. This can be attributed to the rising adoption of dashcams among several Russian motorists for safeguarding their vehicles. Also, the need for protecting cars from tricksters who intentionally break windscreens to claim false money from insurance companies is projected to trigger up the market growth.

Asia Pacific is anticipated to register the highest CAGR of 15.0% over the forecasted period, 2020 t0 2027. This growth can be associated with the rising popularity of such cameras among motorists coupled with offers and discounts provided on such devices by the insurance companies residing across countries like India and China.

COVID-19 Impact Insights

The global dashboard cameras market has been impacted negatively on account of the ongoing COVID-19 crisis. As the majority of the players operating in this market are located across China, their supply chain has been hindered due to restrictions over international cargo movement. Further, the decline in sales of automobiles on account of economic instability is projected to obstruct market growth. However, rapid technological advances being undertaken by the key players are projected to drive the market growth over the post-pandemic period.

Dashboard Camera Market Share Insights

The key players operating across the global market are Panasonic Corporation; ABEO Technology; Pittasoft Co. Ltd.; Garmin Ltd.; Falcon Zero LLC, DOD Tech, and Cobra Electronics Co. These players are constantly focusing to incubate their dash cams with additional features like video recording to gain a competitive advantage over players.

Key players operating in this market are also engaged in expanding storage capacities of their devices so that they can store a large amount of video data. For example, the adoption of SDXC format (Secure Digital Extended Capacity) can increase the storage capacity of the devices up to 2 Terabytes. Further, the adoption of WDR (Wide Dynamic Range) capability to improve the quality of the videos so that the license plates can be visible even in dark light is expected to propel the market growth for dashcams in the upcoming years.

Report Scope

Attribute

Details

Base year for estimation

2019

Actual estimates/Historical data

2016 - 2018

Forecast period

2020 - 2027

Market representation

Volume in Thousands Units, Revenue in USD Million, and CAGR from 2020 to 2027

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Country scope

U.S., Canada, Germany, Italy, U.K., France, Spain, China, India, Malaysia, Taiwan, Singapore, Brazil, and Mexico

Report coverage

Revenue forecasts, company market share, competitive landscape, growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2016 to 2027 in each of the sub segments. For the purpose of this study, Million Insights has segmented the global dashboard camera market on the basis of technology, product, video quality, application, distribution channel, and region:

• Technology Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • Basic
    • Advanced
    • Smart

• Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • 1-Channel
    • 2-Channel
    • Rear View

• Video Quality Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • SD & HD
    • Full HD & 4K

• Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • Commercial Vehicle
    • Personal Vehicle

• Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • Online
    • In-store

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
         Canada
    • Europe
        • Germany
        • Italy
        • The U.K.
        • France
        • Spain
    • Asia Pacific
        • China
        • India
        • Malaysia
        • Taiwan
        • Singapore
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa

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