Dashboard Camera Market Outlook 2024: Global Opportunity and Demand Analysis, Market Forecast, 2016-2024

Global Dashboard Camera Market 

Market Overview

Nowadays consumers are inclining towards the installation of dashboard cameras with the purpose of tracking and monitoring vehicles and incidents on real time basis. Increasing number of road rages incidents and accidents across the globe are bolstering underlying demand for dashboard cameras. Over 1.3 million people die every year in road accidents and on an average 3,287 deaths per day. Moreover, technology companies are encouraging the commercial vehicle drivers to install dashboard cameras to build maps for self-driving cars and to track pedestrian activities on the roads. For instance, Lvl5 Inc. is working on software which identifies objects such as traffic lights and stop signs for self driving cars. Thus the company is crowd sourcing maps for self-driving cars from dashcam videos. In 2017, LvI5 have mapped over 500,000 miles of U.S. roads with the help of their iPhone app, Payver used by 2,000 drivers. Further, Kerb Technologies is tracking the prevalence of pedestrians by video footage to detect more granular qualities about pedestrian traffic. Kerb Technologies are paying car drivers USD 3 per hour to install a GoPro on their dashboard to record the entire road activity and pedestrian traffic on footpaths. These initiatives can be proven as new opportunities for autonomous vehicles which eventually boost the demand for dashboard cameras.

Moreover, government is also promoting the adoption of dashboard cameras. For instance, in 2009, as per Russian Interior Ministry, every citizen should install in-car dash cams. Increase in funding provided by Federal government boosted the adoption rates of dashboard cameras by US Police Department by 86% in past five years.

Market Segmentation

Global Dashboard Camera Market is segmented on the following basis:

Based on Product Type

• Basic/Elite Dashboard Camera
• Advance Dashboard Camera

Based on Technology

• Single Channel Dash Cam
• Multi-Channel Single Dash Cam

Based on Geography

• North America (U.S. & Canada) {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}
•  Latin America (Brazil, Mexico, Argentina & Rest of Latin America) {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}
•  Rest of World {Market Size (USD Billion), Growth Analysis (%) and Product Sales ( In Units)}

Market Size and Forecast (2016-2024)

Global dashboard camera market is expected to reach from USD 1.94 billion in 2016 to USD 5.2 billion in 2024, growing at a CAGR of 13.0% during the forecast period. Increasing number of automobile sales and growing awareness about the benefits and need to monitor and track automobiles with the help of dashboard cameras are anticipated to bolster the growth of global dashboard cameras market.

Rising number road violence and outrage incidents are positively embracing the adoption of dash cams in Russia. In 2015, over 1.1 million populations in Russia own one or more dash cams. Increasing popularity of dashboard cameras accelerated the sales of dash cams in other countries. In 2016, U.S. witnessed 210% increase in the sales of dashboard cameras whereas nearly 918 units of dashboard cameras were sold in the UK. However, due to privacy protection act, the adoption rates of dashboard cameras are low in the UK and only 5% of drivers have installed dashcam.

Market Drivers and Challenges

Increasing number of car thefts incidents, road accidents and changing insurance policies are likely to trigger the demand for the installation of dashboard camera systems. In the U.S. over 20% of insurance claims are fraudulent which accounts for USD 7.7 billion which is paid to fraudsters every year. Thus insurance companies are providing discounts to drivers who install dashboard cameras. These changes in insurance policies are promoting the use of dashcams in the US which eventually supports the growth of dashboard camera market.

Although, dashboard cameras are gaining immense they are also raising negative concerns about privacy. implementation of the Privacy Act mainly in European countries such as Switzerland, Austria, Luxembourg, Portugal, and Belgium where capturing or posting footage or still images from public place on social-media sites is considered a violation of privacy and may result in a fine or imprisonment. Stringent government regulations may hinder the growth of dashboard cameras in the near future.

Key Market Players

• Cobra Electronics Corporation
  • Synopsis
  • Business Strategy
  • Product Portfolio
  • SWOT Analysis

• PHILIPS
• HP
• Blackvue
• Qihoo 360 Technology Co. Ltd.
• Vosonic Technology Corporation
• Xiaomi
• Huawei
• PAPAGO
• Lukashd
• Thinkware
• Pittasoft Co. Ltd.
• Garmin
• Novatek
• Mobius
• Amcrest Technologies LLC
• CNSLink Co. Ltd
• Honeywell
• Eken Group Ltd
• ABEO Technology Co., Ltd.
• Panasonic Corporation
• Fine Digital, Inc.
• Falcon Zero
• ITronics Group
• Shenzhen Zhixinsheng Electronic Co., Ltd.
• WatchGuard Video
• Damark International Inc.

Scope Background

Market Synopsis

Market Segmentation

The Global Dashboard Camera Market is segmented as follows:

• By Product Type (Market Size, Demand Analysis and Growth Analysis)
• By Technology (Market Size, Demand Analysis and Growth Analysis)

By Region

• North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}

• Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
• Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific (China, India, Singapore, Japan, Hong-Kong, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World  {Market Size, Growth Analysis and Opportunity Analysis}

Market Dynamics: Growth Drivers, Restraints and Opportunities

• Risk Factors
• Regional Variations
• Recent Trends and Developments

Key Market Players

• Synopsis
• Business Strategy
• Product Portfolio
• SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks