Dashboard Camera Market Demand To Reach 121.4 Million Units By 2028

 Dashboard Camera Industry Overview

The global dashboard camera market demand is anticipated to reach 121.4 million units by 2028, registering a CAGR of 14.4% in terms of volume, from 2021 to 2028, according to a new report by Grand View Research, Inc. The number of road traffic accidents and theft incidents is continuously increasing across the globe, thereby resulting in the popularity of dashboard cameras. Dashcam footage provides an appropriate understanding regarding the accountability of a crash when the car is involved in an accident or a high-stress event. This can also lower the insurance costs and speed up the insurance claims.

 

Dashboard cameras are increasingly gaining prominence in commercial fleets after their usage in police vehicles was popularized. Leading companies in the marketplace are considering numerous benefits offered by dashboard cameras and promoting their installation. These cameras can help control the rising insurance costs by offering valuable information in case of hit-and-run cases, accidents, traffic violations, and insurance frauds. With easily installable features and improved technology, it is now possible for commercial fleet companies to safeguard their vehicles.

 

Dashboard Camera Market Segmentation

Grand View Research has segmented the global dashboard camera market based on technology, product, video quality, application, distribution channel, and region:

Based on the Technology Insights, the market is segmented into Basic, Advanced, and Smart.

• The dashboard camera market is segmented into basic, advanced, and smart. The basic dashboard camera segment witnessed the highest demand in 2020, accounting for over 69.0% of the market share. Easy installation and low cost of these devices are anticipated to boost the growth of this segment. The demand for basic dashboard cameras is expected to reach over 81.0 million units by 2028.
• The smart dashboard camera segment is expected to register the highest CAGR of almost 16.0%, in terms of revenue, from 2021 to 2028. The increasing demand for advanced driver assistance functionalities, including blind-spot detection, lane departure warning systems, and collision avoidance systems, is expected to create significant opportunities for segment growth over the forecast period.

 

Based on the Product Insights, the market is segmented into 1-Channel, 2-Channel, and Rear View.

• The 1-channel segment dominated the market in 2020 and accounted for a revenue share of over 73.0%. It is expected to continue to dominate the market over the forecast period. The 1-channel dashboard cameras, commonly known as single channel, are mounted on the vehicle’s dashboard or windshield to display and record the road ahead of the vehicle. This product type only records the view in front of the dashcam.
• The rear-view segment is expected to register the highest CAGR of almost 17.0%, in terms of volume, from 2021 to 2028. The demand for these dashboard cameras is anticipated to reach more than 20.0 million units by 2028. These dashcams enable maneuvering of the vehicle during low speed, primarily during parking or slow curb side driving. Leading vendors in the marketplace are introducing advanced rear-view dashcams featuring a real-time reverse view with parking assist lines.

 

Based on the Video Quality Insights, the market is segmented into SD & HD, and Full HD & 4K.

• The SD and HD segment dominated the market in 2020 and accounted for a revenue share of over 61.0%. The segment is poised to continue leading the market over the forecast period. These cameras record low-resolution videos, enabling the device to record long-duration videos in limited memory capacity. The market demand for SD & HD dashboard cameras is estimated to reach over 83.0 million units by 2028.
• The full HD and 4K segment is anticipated to register the highest CAGR of more than to 15.5%, in terms of volume, over the forecast period. Full HD & 4K dashboard cameras feature the capability of recording video footage at a substantially high quality, which could be regarded as admissible evidence by police, legal authorities, and insurance companies.

 

Based on the Application Insights, the market is segmented into Commercial Vehicle, and Personal Vehicle.

• The personal vehicle segment accounted for the largest revenue share of more than 65.0% in 2020 and is expected to register the highest CAGR from 2021 to 2028. There is a significant demand for dashboard cameras in personal vehicles owing to the growing awareness of the benefits of dashcams and the presence of standard laws and regulations regarding road safety across the globe.
• The commercial vehicle segment is anticipated to register a considerable CAGR of more than 12.0%, in terms of revenue, from 2021 to 2028. The demand for dashboard cameras across commercial vehicles is anticipated to increase as recordings from these devices are critical in monitoring driver behavior, reducing accidents, and reducing fake accident claims.

 

Based on the Distribution Channel Insights, the market is segmented into Online, and In-store.

• The in-store segment accounted for the largest revenue share of more than 62.0% in 2020 and is expected to continue to dominate the market over the forecast period. A retail store provides customers with a demonstration of the device, enabling them to try and test before making the purchase.
• The online segment is expected to register the highest CAGR of 14.0%, in terms of revenue, from 2021 to 2028. The factors driving the purchase of dashboard cameras via online platforms include discounted prices and comparison options for dashcams with similar features.

 

Dashboard Camera Regional Outlook

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

 

Key Companies Profile & Market Share Insights

A majority of established dashboard camera vendors are based in the Asia Pacific region and very few of them are based in North America and Europe. The market in the Asia Pacific region is saturated, whereas North America offers a high scope for expansion if proper awareness is created through organized marketing campaigns. The presence of local suppliers across the globe is affecting the profitability of the prominent market players, which is expected to increase the competitive rivalry among the market players.

Some of the prominent players operating in the global dashboard camera market include:

• ABEO Technology
• Garmin Ltd.
• Pittasoft Co. Ltd.
• Falcon Zero LLC
• Panasonic Corporation
• Cobra Electronics Co
• DOD TechDJI

 

Order a free sample PDF of the Dashboard Camera Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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