The global dashboard camera market is anticipated to value USD 7.5 billion until 2027. It is also expected to register a CAGR of 12.9% over the forecasted years, 2020 to 2027. Rising awareness for ensuring vehicle and passenger safety is expected to drive the demand for dashcams in the upcoming years.
The basic technology segment dominated the global market in 2019 due to its features like low-cost price and easy installation as compared to the other types. While, the segment of advanced dash cams is anticipated to gain momentum in the upcoming years due to the rising trend towards the adoption of technologically integrated dashcams with features like GPS support, Wi-Fi connectivity, and parking motion detection.
In 2019, the in-store distribution channel segment held the highest share across the global market on account of rising preference of consumers to physically test and verify the product before making the purchasing decision. On the other hand, the online segment is anticipated to gain traction over the forecasted period, 2020 to 2027 due to features like hassle-free replacement policy, doorstep delivery, and availability of a wide range of options on a single platform for comparison.
Europe accounted for a dominant share in 2019 across the global dashboard cameras market due to the need for protection of cars from tricksters prevailing among the motorists residing across this region. The Asia Pacific is expected to register the fastest growth with 15.0% CAGR from 2020 to 2027 owing to offers and discounts being provided by the insurance companies operating across countries like India and China.
The market for dashboard camera includes key players such as Garmin Ltd.; Falcon Zero LLC, Panasonic Corporation; ABEO Technology; and Pittasoft Co. Ltd. They are constantly engaged in developing products that may include additional features like video recording for gaining a competitive advantage.
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Further key findings from the report suggest:
• The video quality segment of full HD & 4K is anticipated to register significant CAGR of around 16.0% over the forecasted period, 2020 to 2027.
• The in-store distribution channel segment dominated the global dashcams market in 2019.
• Europe accounted for a dominant share across the global dashboard camera market in 2019.
• The key players in this market are Garmin Ltd.; Falcon Zero LLC, Panasonic Corporation; ABEO Technology; and Pittasoft Co. Ltd.
Million Insights has segmented the global dashboard camera market on the basis of technology, product, video quality, application, distribution channel, and region:
Dashboard Camera Technology Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
Dashboard Camera Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
• Rear View
Dashboard Camera Video Quality Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
• SD & HD
• Full HD & 4K
Dashboard Camera Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
• Commercial Vehicle
• Personal Vehicle
Dashboard Camera Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
Dashboard Camera Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa