Drive Recorder Market Growth Prospects, Trends and Forecast up to 2027

Drive Recorder Market Outlook – 2027

Drive recorder is also known as car camera, automotive recorder, driving recorder, and digital video recorder. It is little savvy camcorder that used in vehicles by drivers to secure themselves on account of an accident. The automotive drive recorders are intended to always record video information to removable capacity media, for example, an SD card, hard drive, or others. At the point when dashcams were introduced, these were wired specifically into the vehicle's 12V electrical system. These cameras are majorly used to assist the driver for parking, to assess vehicle performance, for night vision, and to gather critical evidence. Furthermore, they are embedded with advanced computer vision algorithms, which extract meaningful data from the captured images to assist the driver for various purposes, and play a crucial role in advanced driver assistance systems (ADAS).

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COVID-19 scenario analysis:

The impact of COVID-19 on today’s globally integrated automotive sector has been swift and significant.

Auto companies may be forced to divert capital to shore up continuing operations, starving R&D funding for advanced technology initiatives and other discretionary projects

A significant amount of restructuring may be expected in the auto retail sector as dealers are unable to pivot quickly enough to changing demand conditions.

The optimize working capital and identify measures to deliver rapid, tangible cash flow benefits which will revise forecast assumptions, prioritizing downside scenarios given the current level of market uncertainty.

The identification of potential sources of collateral to secure access to additional borrowing solutions should active scenario planning suggest that liquidity will become an issue.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the market growth include innovation in sensors utilized in cameras and assess vehicle performance especially for night vision. However, the high establishment cost of the cameras limits the market development and is anticipated to hamper the growth of the market.

The drive recorder market trends are as follows:

Innovation in sensors utilized in cameras
The security and safety worries among purchasers have expanded immensely, thereby positively affecting the development of the worldwide automotive drive recorder market. The camera sensors are now a vital part of any modern automobile design, serving different purposes.

They are instrumental in helping car manufacturers to bring models to market that are safer, more fuel-efficient, and more comfortable to drive. The increase in innovation in the drive record cameras is attracting more manufacturers to adopt the technology in their upcoming models which further boost the growth of the drive recorder market during the forecast period.

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Assess vehicle performance especially for night vision

Nighttime driving is considered to be dangerous and is one of the most challenging driving situations for most drivers. Fatality rates are higher at night than in the day when adjusted for distances traveled, particularly for crashes involving pedestrians and cyclists. Understanding the visibility problems involved in nighttime driving is thus critical, given the increased risk to road safety. The enhanced performance of the drive recorder night vision is assessing the market and is expected to boost the market growth during the forecast period.

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