Dashboard Camera Market Leading Players Envisioned By The Analysts Forecast 2014 - 2020

Global Dashboard Camera Market – An Overview
With installation considered legal in a number of countries, dashboard cameras are set to see an increase in demand over the period 2014 to 2020 as governments allow these to be installed in state cars and insurance companies encourage their use by asking for lesser premiums for cars that have these.

Trends and developments that are contributing to growth in the market are outlined below:

Massive increase in road accidents and car thefts is pushing insurers to demand for dashboard cameras as they record both what is happening inside the car and outside. This helps in ensuring that fraud is not committed by vehicle owners. This is a major boost to the global dashboard camera market.
1.35 million people die in road accidents on an annual basis. Every day, 3700 people lose lives due to these. Besides, some 20-50 million suffer serious injuries that are non-fatal but lead to disabilities that maybe long term. This pushes the governments across nations to help the market grow at a sturdy pace over the forecast period.

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Dashboard cameras are onboard devices used in private cars, law enforcement vehicles, and rental and other commercial vehicles to record real-time videos both inside and outside of the vehicle. The global dashboard camera market is expected to see a significant growth through the forecast period.

The factors boosting the demand for dashboard cameras include introduction of government initiatives encouraging installation of these cameras and insurance companies offering the benefits of paying lesser premium for vehicle owners those who have equipped their car with these camera. Use of dashboard camera is legal throughout the globe except some European countries including Austria, Portugal and Belgium. Demand for dashboard cameras is highly dependent upon the cost of the equipment, ease of installation and maintenance, and robustness, and other durability parameters. Dashboard cameras for various classes of vehicles are available at a wide range of costs and video quality. The price of these cameras typically range from US$ 20 to over US$ 400 and are available in different configurations namely, front-view, rear-view, and dual-view cameras, thus increasing the affordability for nearly all classes of vehicles.

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The dashboard cameras market is classified on the basis of its lens technology into single lens, multi lens and rear-view mirror style camera. Single lens forward recording dashboard cameras accounted for the largest revenue and volume share in 2013 and are expected to maintain their dominant position throughout the forecast period. This is due to the rising demand for dashboard cameras among motorists owing to its usefulness in filing insurance claims, procurement of evidences for civil and criminal lawsuits and for other safety concerns. Multi lens dashboard camera represents the most attractive segment to invest for dashboard camera manufacturers. On the basis of geography, the global dashboard cameras market is segmented into four broad regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW).

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The report also includes country level analysis for major market in Europe and Asia Pacific region. Asia Pacific represents the largest regional market due to growing popularity of dashboard cameras among private as well as commercial vehicle owners. China is the largest market for dashboard cameras in Asia Pacific as well as in the global dashcams market. North America accounts for the low market share due to less popularity, stringent traffic regulations and traffic discipline. However, with the US government’s initiatives to improve pedestrian safety in order to reduce causalities, the demand for these cameras is expected to increase substantially during the forecast period. Asia Pacific is predicted to see fastest-growth in terms of both revenue and volume through the forecast period. This is majorly due to the rising demand for these cameras in countries such as Japan, South Korea, Singapore, Taiwan, Hong Kong, China, and Australia.

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This release was published on openPR.