The Global Dashboard Camera Market Size Stood At USD 3.53 Billion In 2021. The Market Is Projected To Grow From USD 4.21 Billion In 2022 To USD 16.8 Billion By 2030, Exhibiting A CAGR Of 21.8% During The Forecast Period.

Dashboard Camera Market Overview:

The global COVID-19 pandemic has been unprecedented and shocking. Demand for dashboard cameras has been higher than expected in all areas compared to levels before the pandemic. Based on our research, the global market grew by 12.8% between 2019 and 2020.

A dashboard camera, also called a dashcam, is an onboard camera that is attached to the front windscreen and sometimes the back windows of a vehicle and records the view continuously. In case of an accident, a dashcam is very helpful. The camera is in a good spot to see the whole road ahead, so there is proof that there was an accident in front of the driver or that he or she was involved. For example, police in the United Kingdom now accept dashcam footage as proof. So, they can be used to stop future accidents by reporting drivers who are careless or dangerous.

Lower insurance rates are one way that a dashcam can save money for car owners. Some insurance companies will even give you a discount if your car has a dashboard camera. Some insurance companies, like Aviva, AXA, and Swiftcover, will give customers a free dashcam if they can show that they have already put one in their car. Aviva also uses the same technology for its car camera, which gives the customer a score after every trip. When drivers drive safely and responsibly, their score goes up, and their premiums go down.

Market Dynamics:

Latest Trends:

Recent developments in self-driving technology will have an effect on the global market. Top companies like Tesla, Volvo, Today's dashboard cameras aren't like ordinary cameras; they're constantly getting better so they can keep you safe on the road. The use of dashcams in both personal and commercial vehicles has been greatly improved by the introduction of new technologies like artificial intelligence and vehicle telematics.

These cameras use artificial intelligence to keep track of the outside and inside environments while the car is moving. The AI helps by analysing the scene in real time and finding objects in it. For example, the camera can send a real-time alert to the driver or operator if a vehicle is coming up from behind at the right speed, so the driver can take action to avoid a collision.

Modern dashcams have features like blurring people's faces to protect their privacy, live streaming of video footage, high definition video recordings, long video recordings, storage, and more. It is saving lives because it can tell if a driver is distracted, following too close, making sudden stops, or driving too fast.

Artificial intelligence has given this market a lot of new opportunities. Search cameras with more features are likely to get a bigger share of the dashboard camera market in developing countries like China, Brazil, India, and others. Many people in the developed world already use these cameras, especially owners of high-end and luxury cars and large fleet management companies.

Driving Factors:

Dashcams are becoming more and more popular because there are more and more car accidents. This mostly helps the drivers record things that happen in front of and behind the car and store them in a DVR box inside the car. Dashcams record video that can be used in court, for insurance claims, and to keep people safe.

Also, vehicle theft is a big worry for car owners all over the world. For example, the Fatality Analysis Reporting System (FARS) of the U.S. Department of Transportation says that there were 33,244 fatal car accidents in the U.S. in 2019, which killed 36,096 people. Also, an FBI report says that 727,921 vehicles will be stolen in the U.S. in 2020, which is 11.8% more than the 667,064 vehicles that will be stolen in 2019. Also, the FBI says that in 2020, more cars were stolen than any other year since 2008.

In India, a lot of stolen cars are reported every year. According to information shared by the Delhi Police, 307,000 cars were stolen in the city between 2011 and 2020. So, the fact that these are such serious issues is making people all over the world want to buy from this market.

Also, the number of people who want dual-channel dashboard cameras has grown quickly in the last three years, mostly because high-definition dual-channel cameras are now on the market. These cameras record footage from both the front and the back. Because of this, it can be used as evidence in court. Demand for this kind of camera is expected to go up over the next few years, mostly because they are being used more and more in taxis and cabs to protect both passengers and drivers.

Dashcams have also become very popular because of videos of accidents that have gone viral. People who own cars have learned from these videos how important it is to have a dashcam.

The market is growing because more people are dying on the roads and more people are worried about safety. The World Health Organization (WHO) says that there are 1.3 million car accidents around the world every year. So, governments all over the world are passing laws that require cars to have back-up cameras to make them safer and stop accidents.

For example, in 2014, the National Highway Traffic Safety Administration (NHTSA) passed a new law that says all vehicles under 10,000 pounds, including buses and trucks, must have backup cameras.

Also, many big insurance companies have made it a requirement for policyholders to have dashcams in their cars so that insurance claims can be processed quickly. For example, car insurance companies in Japan offer products with special contracts to lease dashboard cameras because the laws against drivers who follow too closely have become stricter. This plan led to a big increase in car insurance in Japan, which will reach 1 million by 2020.

Insurance Information Institute (III) says that every year, fraud costs property and casualty insurance companies an average of USD 34 billion. The National Insurance Crime Bureau (NICB) says that most of this loss is due to auto insurance fraud. Also, Australia has seen a lot of auto insurance fraud, and the country could save billions of dollars by encouraging the use of dashcams. In 2019, 58,285 cars were stolen in Australia, which is 9% more than in 2018.

Several insurance companies are also contributing to the rise in dashcam sales by giving discounts on car insurance. This is because dashcams can cut down on insurance fraud or false claims because they record what happens.

So, stricter rules from the government and more insurance fraud are affecting how dashboard cameras in cars work, which is helping to grow the market.

Restraining Factors:

Connected cars and advanced driver assistance systems have made driving much easier and safer. But the more technology makes our society more connected, the more people worry about cybersecurity. Cybersecurity experts always criticise dashcams because they worry about privacy. Experts have in the past pointed out many security holes that could lead to user data being stolen or cyberattacks.

Even though the companies fix these problems on their own from time to time, we never know when this could be a big problem. To make driving safer, the manufacturers must make sure that their cybersecurity and data protection policies are at the highest level. For example, the Atlanta Police Department lost years' worth of dashcam footage because of the ransomware attack in 2018.

The car companies share the information they get from the different camera sensors they put in their cars with other companies to improve the user experience. For example, BMW gives the mapping software company HERE the information it gets from the dashboard camera. HERE uses this information to make a variety of services for connected cars. Even though this sounds good for the end user, third-party companies that don't handle data correctly can sometimes lead to serious cyberattacks.

Few car companies, like Tesla, let you erase personal information from the car's storage on your own. However, users' carelessness can also lead to a personal data breach. In 2020, for example, a hacker could get important personal information from Tesla parts he bought on eBay.

So, we expect that the above factors will slow the growth of this market.

Some countries have strict laws against dashcams, which is expected to slow the growth of the global market. In some European countries, like Austria, Belgium, and Switzerland, it is against the law to use these cameras because it is seen as an invasion of privacy. People who break the rules have to pay big fines, which slows the growth of the market.

For example, the Belgian Camera Act says that people must report the installation and use of surveillance cameras in private places that are open to the public.

Segmentation Analysis:

By Technology Type Analysis:

Based on the type of technology, the market is divided into three groups: basic, advanced, and smart. At the moment, the basic segment is leading the global market. Basic dashcams are cheap, so there are a lot of them on the market. Many people only need to record the view while driving to make insurance claims without a lot of trouble. The advanced segment is expected to have the highest CAGR during the forecast period and be the largest segment by 2029. GPS, audio, and accelerometers are all features of more advanced dashboard cameras. The market will grow because people will want these new, technologically sound units. During the expected time period, the smart technology type segment is expected to grow at the second-fastest rate. Market growth will be driven by the growing demand for smart cameras in luxury and business vehicles as well as luxury car rental vehicles.

By Channel Type Analysis:

Based on channel type, the market is divided into single-channel and dual-channel markets. The number of cameras is what the word "channel" refers to here. Most of the time, a single-channel camera can only record the road in front of the driver because it only has one camera facing forward. Some of the more expensive single-channel dashcams have features like a parking mode, night vision, Wi-Fi, and GPS. At the moment, the single-channel segment is at the top of the world market. The single-channel segment is growing because it is less expensive than the dual-channel segment and has less operational and maintenance costs. On the other hand, the dual-channel segment is expected to grow the fastest. Dashcams with two channels can record both the front and back of the car, depending on how they are mounted and pointed. The setup can be made up of two separate cameras that work together and are linked by a cable, or it can be made up of just one camera that has both a front and back camera in it. Dual channels are the most common and are good for both personal and business use because they record real footage in case of an accident. So, the CAGR for the dual-channel segment is expected to be the highest during the time frame.

By Vehicle Type Analysis

The two main types of vehicles on the global market are passenger cars and commercial vehicles. Dashcams that are installed in passenger cars are part of the passenger cars segment. Most of the time, these are used for safety, insurance, or keeping track of things in case you travel. Some parents also put these kinds of cameras in their kids' cars because they are worried about how well their kids drive. This segment also includes car ride-sharing platforms that use dashcams to watch how customers drive and make sure they are safe while travelling. So, it's likely that most of the market will be made up of passenger cars over the next few years. This part talks about the dashcams that are installed in trucks, buses, and work vans. These are put in place to stop people from making false claims, to watch drivers, to coach drivers, and to help them stop driving in dangerous ways. The cabin-facing camera in the Driver Monitoring System (DMS) helps when the driver is too tired or distracted to drive well. So, when dashcams are used with ADAS, fleet managers get a lot of benefits. So, these things will help the segment of dual-channel dashcams grow.

Regional Insights:

In 2021, the size of Europe's market was worth USD 1.76 billion. Dashcams were first used by people in Russia, and then the idea spread to the U.K. and Germany. Europe has the biggest market share. Dash cams are required in Russia because people were afraid of aggressive drivers, insurance fraud, and accidents that weren't properly looked into because they didn't have the right technology.

In 2021, the size of the North American market was second in the world. The growth is due to the fact that U.S. law enforcement officers are using dashcams to provide more proof of crimes. Rideshare drivers are the most common people in this area who buy dashcams. Even though these cameras are not required, U.S. lawmakers are pushing to make them so. During the forecast period, this will drive up the demand for market in the region.

During the period in question, the Asia-Pacific market is expected to grow the fastest. The APAC market is driven by the growing use of new technologies like ABS, ADAS, vehicle telematics, and dashcams. Also, encouraging steps from emerging economies like China, India, and Malaysia lead to more people buying dashcams, which helps the market grow in the long run. For example, in 2019, the director-general of the Malaysian Institute of Road Safety Research (MIROS), Siti Zaharah Ishak, praised the growing number of cars with dashcams and asked other drivers to do the same. Businesses are also trying to get into the APAC market. For example, NextBase, one of the biggest dashboard camera makers in Europe, is about to bring its full line of dashboard camera products to the Australian market.

The Gulf, South America, and Africa make up the rest of the world. The market is growing across the Middle East because of more tourists, more money spent on rider safety, and more people buying scooters there. Arab News wrote in May 2022 that Ahmed Eid Al-Attawi, who owns a Dashcams store in Jeddah, has been selling dashboard cameras to people who are worried about theft and vandalism. But consumers have also started to worry about accidents. People want dashcams because they want proof of how they drive and don't want to be wrongly charged with speeding or an accident. Dashcams are selling well in the area because of these things.

Scope Analysis

Recent Development:

• June 2021: Garmin announced four new dashcams with cloud-connected storage (Dashcam Mini 2, 47, 57 and 67W). All offer remote monitoring of parked vehicles and free online video storage for up to 24 hours after an accident.
• May 2020: Xiaomi launched the Mi Smart Dashcam 2K. Thanks to the camera's OV OS05A10 back-illuminated image sensor, it can record video in high resolution up to 1600p. This sensor has an f/1.8 aperture. This is the second entry in a series from Xiaomi.
• January 2020: Garmin International, Inc. announces the Garmin Dashcam Tandem. This is the first dual-lens dashcam that supports two 180-degree field-of-view lenses that record day and night side by side, giving the driver complete video coverage of their surroundings.
• August 2019: California-based FleetUp offered a video telematics bundle that included a 360-degree dashcam from Waylens that integrates into the company's fleet management solution. The camera brings multiple angles of footage to the FleetUp dashboard for fleet managers to view. The camera also provides a driver-side view.
• February 2019: Panasonic announced the AS-1 camera, the latest addition to its portfolio of public safety solutions. The AS-1 camera is small enough to fit behind a vehicle's rearview mirror and provides high-quality video evidence capture.

Market Segmentation

By Technology Type:

• Basic
• Advanced
• Smart
• Others

By Channel Type:

• Single-Channel
• Dual-Channel
• Others

By Vehicle Type:

• Passenger Cars
• Commercial Vehicles
• Other

By Companies:

• Koninklijke Philips N.V. (Netherlands)
• Valeo SA (France)
• Aptiv (Ireland)
• Honeywell International Inc. (U.S.)
• Panasonic Corporation (Japan)
• LG Innotek (South Korea)
• Xiaomi (China)
• Garmin Ltd. (U.S.)
• DOD Tec (Canada)
• Waylens, Inc. (U.S.)
• ABEO Company Co., Ltd (Taiwan)
• Pittasoft Co. Ltd. (South Korea)
• PAPAGO Inc. (U.S.)
• Steelmate Automotive (U.K.)
• Qihoo 360 Technology Co. Ltd. (China)
• Others