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Dashboard Camera Global Market Report 2024 To 2033 | VCKENWOOD Corporation, Panasonic Holdings Corporation, LG Innotek, Garmin International, DigiLife Technologies CO. Ltd
Dashboard Camera Market Size
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According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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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Major Key Players of the Market:
Americold Logistics LLC, Burris Logistics, Nichirei Corporation, United States Cold Storage, Toyo Suisan Kaisha, Ltd,VersaCold Logistics Services, Lineage Logistics Holdings, Tippmann Group, Snowman Logistics Pvt Ltd, Conestoga Cold Storage, Coldman Logistics, Cold Box India LLP, Rinac India Limited, Singhania Logistics & Distribution Pvt. Ltd, Cold Storage Japan Ltd, Sinotrans Shanghai Cold storage Company, Kerry Logistics Network Limited, Global Cold storage Solutions, China Resources Logistics Limited, Beijing Er Shang Group, Jinjiang International Holdings Co., Ltd, Nichirei Logistics Group Inc, HNA, Valley Food Storage, ACS&T Logistics, VIMA Foods, Logifrio, Cabezuelo Foods, Ebro Foods, CRS IE, Maersk, Ruzave, FREJA Transport & Logistics, Priority Freight, Dropex, Internel Sp. z o.o, NATANEX, PUH Jamax, ARRA GROUP SP. Z O.O. SP. K, NOWAKOWSKI TRANSPORT Sp. z o.o, Fructus Transport, Artrans Transport, NewCold, Frialsa, Qualianz, ARCOSA, Bradner Cold Storage, Congebec, Confederation Freezers, Interstate Warehousing, Inc, Constellation Cold Logistics, Localfrio S/A, Brado Logistica S/A, ComFrio, Martini Meat S/A, Friozem Armazens Frigorificos Ltda, Comfrio SoluCoes LogIsticas, Agility, Al Futtaim, RSA Cold Chain, Sharjah cold stores, Tameem logistics, APG Logistics, GEFCO South Africa, Value Logistics, Transnova Africa, KAP Industrial Holdings Limited, Tsiko Africa Group, Bakers SA Limited, ColdHubs
Dashboard Camera Market 2024 Key Insights:
• 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%.
• Rise In Road Accidents Drives Demand For Dashboard Cameras In The Market
• Integration Of Telematics Systems Elevates Dashcams As Crucial Fleet Management Tools
• North America was the largest region in the dashboard camera market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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