Press release
Dashboard Camera Market Set to Reach US$ 13 Billion by 2032 with 18.3% CAGR | Future Market Insights, Inc.
The global dashboard camera market is anticipated to reach a valuation of US$ 13 Billion by 2032, with the market expanding at a prolific CAGR of 18.3% from 2022 to 2032. Valued at US$ 2 Billion in 2021, the target market is set to reach 2.4 Billion in 2022.Dashboard cameras gain high application in personal vehicles. With the rising expansion and demand for personal vehicles, the market for dashboard cameras will undergo substantial growth over the forecast period.
A dashboard camera helps in the prevention of fraud and assists in improving accident rates. It is a preventative tool that helps in controlling and reducing road accidents as well as enhancing driver safety. As per a report from WHO, India beats the global numbers in road wreck deaths. These numbers are detailed enough to make dashboard cameras a necessity, especially for newer vehicles. Again, insurance frauds are becoming increasingly common these days.
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Drivers are becoming easy targets even when they are actually the victim. All of this can be countered with the installation of dashboard cameras which helps to meet the benefits of an insurance claim.
Moreover, dashboard cameras act as one of the best devices with regards to fleet management. In industries, where most of the work is dependent on fleet vehicles, the expense of operations amplifies. Dashboard cameras serve a crucial role in fleet management by reducing the cost of operations, thus, helping to save the company time and money each year.
This further helps the organization to concentrate on more critical aspects and increase the company's returns. Fleet owners and aggregators like Ola and Uber anticipate real concessions as they can check how the drivers are actually performing on the job. All of these factors act as growth drivers for the dashboard camera market during the forecast period.
"As the installation of dashboard cameras aids in controlling road accidents and lessens insurance claims, the global market for the same will witnessed considerable growth over the forecast period," says an FMI analyst.
Key Takeaways:
Regulations regarding privacy infringement may hamper the market growth.
The dashboard camera market in the United States will grow at a CAGR of 17.5%, reaching US$ 4.4 Bn during the forecast period.
The U.K. dashboard camera market will register a CAGR of 16.8% and reach US$ 522.1 Mn by 2032.
By technology, the basic dashboard camera segment will dominate the global marketplace with a CAGR of 18.1% during 2022-2032.
The dashboard camera market in the Asia Pacific region will account for the highest revenue growth.
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Competitive Landscape
ABEO Technology CO., Pittasoft Co. Ltd., Garmin Ltd, Falcon Zero LLC, Cobra Electronics Co, Safe Cams, THINKWARE, Harman, Amcrest Technologies LLC, HP Development Company LP, DOD TechDJI, Panasonic Corporation, DOD Tech, Waykens Unc., Papago Inc., LG Innotek, Koninklijke Philips N.V, and Honeywell International Inc., among others are some of the major players in the dashboard camera market profiled in the full version of the report.
Leading market players are keen on product development and releasing new product lines. These businesses also employ strategic collaborations and partnership tactics to strengthen their market prospects.
Key Segments Covered in Dashboard Camera Industry Survey
Dashboard Camera Market by Technology:
Basic
Advanced
Smart
Dashboard Camera Market by Product type:
1-Channel
2-Channel
Rear View
Dashboard Camera Market by Video Quality:
SD and HD
Full HD and 4K
Dashboard Camera Market by Application:
Commercial Vehicle
Personal Vehicle
Dashboard Camera Market by Region:
North America Dashboard Camera Market
Latin America Dashboard Camera Market
Europe Dashboard Camera Market
South Asia Dashboard Camera Market
East Asia Dashboard Camera Market
Oceania Dashboard Camera Market
Middle East & Africa Dashboard Camera Market
More Insights into Dashboard Camera Market Report
In its latest report, FMI offers an unbiased analysis of the global dashboard camera market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of technology (basic, advanced, smart), product type (1-channel, 2-channel, rear view), video quality (SD and HD, full HD & 4K), application (commercial vehicle, personal vehicle), and region.
According to the latest FMI reports, based on segmentation, the basic technology segment will make significant contributions to the overall market growth. This segment is expected to grow at a CAGR of 18.1% during 2022-2032. In terms of application, the personal vehicle segment is anticipated to generate high demand during the projection period.
Based on region, the dashboard camera market in the United States and the United Kingdom will display remarkable growth during 2022-2032. The U.S. dashboard camera market is estimated to grow at a CAGR of 17.5% and reach US$ 4.4 Bn by 2032. This growth can be attributed to the rising popularity of ride-sharing companies like Uber and Lyft as well as to a well-established shipping and haulage business. The dashboard camera in the United Kingdom will grow at a CAGR of 16.8% and create an incremental opportunity of 411.3 Mn during 2022-2032. In addition, the target market in the Asia Pacific region is predicted to generate the highest revenue during the forecast period.
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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