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Dashboard Camera Market Consumption Analysis, Business Overview and Upcoming Trends 2032

03-17-2023 05:54 AM CET | IT, New Media & Software

Press release from: Analytics Market Research

Dashboard Camera Market

Dashboard Camera Market

The global dashboard camera market size was valued at US$ 3.8 billion in 2022, and anticipated to grow at a CAGR of 10.2 % over the forecast period. A dashboard camera, usually referred to as a dashcam, is an onboard camera that is permanently mounted on the front windscreen and occasionally the rear windows of the vehicle and continuously records the view. A dashcam is quite useful in the event of accidents. Since this camera is conveniently positioned to capture the entirety of the road ahead, there is proof that an accident occurred in front of the driver or the other drivers.

The industry's expansion is linked to increased security against escalating vehicle thefts, quicker insurance claims processing, and growing awareness of the need of driving safety. Dashboard cameras are used by the police force as well as for private and professional purposes. The surge in false insurance claims and medical payments based on fictitious auto accidents is a significant element driving product demand. In order to resolve insurance claims more precisely and swiftly, it has also been noted that insurance firms are promoting the usage of dashboard cameras in vehicles.

Furthermore, personal vehicle users are dominating the market because dash cams are typically inexpensive and easy to install. High-definition dash cam recording has become common since digital services have been implemented and widely standardised. Standard definition dash cams are also an option, and they now control the dash cam industry since they're not as costly to produce and market. The entry-level of the market has decreased and become more uniform globally as a result of technical advancements.

The strict rules certain nations have enacted against dashcams are indeed the major factor anticipated to impede the growth of the global market. In certain European nations, like Austria, Belgium, and Switzerland, the use of these cameras is prohibited by law and regarded as an invasion of privacy. Violators are subject to severe fines, which restrains the market's expansion.

Technology Insights

By Technology, basic technology segment accounted for the largest market share in 2022 and is likely to continue to dominate the industry over the forecast period. Dash cameras, which have minimal features and technology, are now easily available owing to manufacturers, who have greatly reduced the entry-level. These dash cams are reasonably priced and easy to install. Basic features are sufficient for the majority of customers. Dash cams with basic technology are more common in underdeveloped countries due to their simple manufacturing processes and inexpensive production costs.

Product Insights

In terms of Product, the 1-channel product segment dominated the market share in 2022 and is estimated to lead the market over the forecast period. The market has experienced substantial growth as a result of the increase of 1-channel dash cams at low prices. 1-channel dash cams often only have the ability to capture the front view and have limited battery life and storage. The most fundamental, entry-level dash cams on the market are 1-channel models.

Video Quality Insights

In terms of Video Quality, The SD & HD video quality segment accounted for the largest share in 2022. One of a dash cam's most crucial features is video quality because it can be crucial when it comes to going over the footage. Due to its affordability and ability to record common incidents, such as number plates during collisions for insurance purposes, customers who use dash cameras in their automobiles prefer SD & HD video quality devices.

Application Insights

In terms of Application, the personal vehicle application segment accounted for the largest share in 2022. As dashboard cameras are frequently simple to set up and operate, customers don't need to spend much time learning about the features before buying the product in-person or online. As personal vehicles have become more common and more affordably priced, dash cam manufacturers have found a great potential for advancement.

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Regional Insights

In terms of region, Due to the expanding use of dashboard cameras for insurance proof purposes and rising consumer demand, Europe held the largest market share in 2022. Because of a high accident rate and dangerous driving conditions, dash cameras are widely used in vehicles in developing European nations like Russia. The restrictions that apply to dash cameras in the majority of European countries forbid them from interfering with driving or being used as a method of releasing private information about vehicles. Also, it has been noted that European consumers adopted dash cameras more quickly than residents of other continents.

Furthermore, Asia Pacific is projected to register the highest CAGR from 2023 to 2032 owing to encouragement and benefits for foreign businesses to enter the market in the region. The region is expanding as a result of increased automobile sales and traffic. Dash cams are popular in this region due to the high rate of traffic accidents.

Key Companies Insights

Some of the major companies studied under the market scope are as follows: Koninklijke Philips N.V., Valeo SA, Aptiv, Honeywell International Inc, Thinkware Dash Cam, Panasonic Corporation, LG Innotek, Xiaomi, Garmin Ltd, DOD Tec, Waylens, Inc, ABEO Company Co., Ltd, Pittasoft Co. Ltd, PAPAGO Inc, Steelmate Automotive, Cobra Electronics Corp, Qihoo 360 Technology Co. Ltd, and Others. The existence of several companies on a global and regional scale creates intense rivalry for major players working in the ecosystem. These players also use a variety of strategies, including merger and acquisition, the introduction of new products, geographic expansion, R&D for increasing their product line, and others.

In 2022, Dashboard cameras Q1000 were introduced by THINKWARE. Users can watch live video while parking or even in detailed recording mode. It can record brighter films in the dark and has Super Night Vision 3.0 with HDR. It is designed to help commercial vehicles and fleet management track vehicles and increase efficiency.

Segments

By Technology

· Basic

· Advanced

· Smart

By Product

· 1-channel

· 2-channel

· Rear View

By Video Quality

· SD & HD

· Full HD & 4K

By Application

· Commercial Vehicle

· Personal Vehicle

By Distribution Channel

· Online

· Offline

Global Dashboard Camera Market: Regional Analysis
The countries covered in the regional analysis of the Global Dashboard Camera market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Dashboard Camera market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Dashboard Camera would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter's five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Objectives of the Study:
• To provide with an exhaustive analysis on the Dashboard Camera Market by Product Type, By Technology, By Application, By Distribution Channel and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions- North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions

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https://analyticsmarketresearch.com/reports/dashboard-camera-market/55489/

Frequently Asked Questions About This Report
• How big is the Market?
• What is the Market growth?
• Which segment accounted for the largest Market share?
• Who are the key companies/players in the Market?
• What are the factors driving the Market?
• How has the Covid-19 pandemic affected the Market?
• What is the leading solution segment in the Market?
• What is the leading deployment segment in the Market?
• Which enterprise segment accounted for the largest revenue share in the Market?

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Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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