Dashboard Camera Market Outlook, Strategies, Demand Forecast To 2033

The dashboard camera market size has grown exponentially in recent years. It will grow from $3.81 billion in 2023 to $4.59 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the increasing number of road accidents globally, the rise in the number of fraudulent insurance claims and the rising vehicle theft.

The dashboard camera market size is expected to see rapid growth in the next few years. It will grow to $9.4 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. The growth in the forecast period can be attributed to the rising consumer awareness regarding in-car safety, the increasing sales of electric and hybrid vehicles, the increased adoption of advanced driver assistance systems and the rapid increase in vehicle production globally. Major trends in the forecast period include focus on dashcams integrated with telematics systems, fleet tracking technology, smart dashcams for driver assistance and security, product innovations, lte (long term evolution or 4g)-connected dashcams, lte (long term evolution or 4g)-connected dashcams and technological advancements.

Market Overview -
The dashboard camera (dashcam) is engaged in offering a wide range of products under driver-assistance systems and fulfills the aftermarket requirements for solutions for road safety. Only goods and services traded between entities or sold to end consumers are included.

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Rise In Road Accidents Drives Demand For Dashboard Cameras In The Market
An increase in the number of road accidents is contributing to the growth of the dashboard camera market. Absentminded driving has become a larger threat and is a major cause of car accidents over the past decades. For instance, in May 2022, the National Highway Traffic Safety Administration, a US-based government agency, estimated traffic fatalities for 2021, according to estimates, 42,915 individuals died in traffic crashes last year, a 10.5% rise over the 38,824 fatalities in 2020. Therefore, the increase in the number of road accidents is anticipated to boost the growth of the dashboard camera market.

Competitive Landscape -
Major companies operating in the dashboard camera market report are JVCKENWOOD Corporation, Panasonic Holdings Corporation, LG Innotek, Garmin International, DigiLife Technologies CO. Ltd, Philips, Pittasoft, Nexar, Falcon Electronics LLC, Nextbase, Huawei Technologies Co, Vantrue, 70mai, Shenzhen Teamspower Electronics Company Ltd, Huizhou Boshijie Technology Co.Ltd, Huizhou Great-Will Industrial Co. Ltd, Shenzhen Ouxiang Electronics Co. Ltd, Shenzhen Lemik technology Co. Ltd, Shenzhen Ease-Way Tech. Co. Ltd, Qubo Car Dash Camera, F5 WiFi Dash Cam Front, Thinkware, Connixion, Concox, Midland, Osram, MOBOTIX, Blaupunkt, Promwad, Mobius Action Cam, Rexing V1LG, Blackboxmycar, Canada Computers, Jimi IoT, DDPAI, Redtiger, CPPlus, Loconav, Verizon Connect, Krishcom, Zane Wave, Mvp Tech, N Tech Security Systems, Ansari Security Systems, V-ITS, FleetCam, Eyetrust Surveillance, Edacom CC, CAMERA TRAPS.

Integration Of Telematics Systems Elevates Dashcams As Crucial Fleet Management Tools
The launch of dashcams integrated with telematics systems is a key trend gaining popularity in the dashboard camera market. The telematics system uses GPS and onboard diagnostics (OBD) to track the movements of vehicles, machinery, and other assets and display that data on a digital map. Telematics, also called fleet tracking or GPS vehicle tracking, has become a crucial management tool for many private and public fleets. Major companies operating in the dashboard camera market are focusing on developing telematic system-based dashboard cameras to strengthen their position in the market. For instance, in June 2023, HCSS, a US-based provider of software for heavy civil businesses, launched HCSS ADPlus Fleet Dashcam, a plug-and-play dash camera with an integrated Al processor to detect driving incidents like forward collisions and negligent driver behavior, like using phone while driving and being distracted. Heavy construction organizations can use the HCSS Dashcams on their fleet vehicles to protect drivers and prevent accidents.

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Key Segments -
The dashboard camera market covered in this report is segmented -
1) By Type: 1-Channel, 2-Channel, 3-Channel, Rear View
2) By Technology: Basic, Advanced, Smart
3) By Application: Commercial Vehicle, Personal Vehicle

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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