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Steady Expansion Forecast for Car Digital Video Recorder Market, Projected to Reach $3.19 Billion by 2029
Car Digital Video Recorder
Car Digital Video Recorder Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for car digital video recorders has seen considerable surge. From constituting a value of $2.38 billion in 2024, it is predicted to expand to $2.52 billion by 2025, marking a compound annual growth rate of 6.1%. This past growth can be associated with developments in fleet management solutions, a boost in vehicle sales, expansion of shared mobility and ride-hailing sectors, greater acceptance of electric and self-driving vehicles, along with growth in e-commerce and final-mile delivery services.
Car Digital Video Recorder Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, the car digital video recorder market is anticipated to experience significant growth, expanding to a value of $3.19 billion by 2029, with a 6.0% compound annual growth rate (CAGR). This projected increase during the forecast period can be attributed to several factors such as growing consumer concerns about vehicle safety and security, escalating consciousness regarding the protection against accident liabilities, increased interest in updating car technologies, rising demand for recording road trips and daily commutes, and heightened worries about car theft and vandalism. Some of the notable trends expected to emerge during the forecast period encompass the acceptance of AI-enhanced DVRs, incorporation of GPS and telematics features, enhancements in video quality, evolution of cloud storage capabilities, and the advent of real-time video streaming technology.
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What Are the Drivers Transforming the Car Digital Video Recorder Market?
The expansion of the car digital video recorder market is expected to be spurred by the escalating incidents of road accidents. These accidents are primarily caused by distracted driving, where drivers typically use mobile phones or engage in other activities that deflect their attention from the road, heightening the risk of crashes. Automobile digital video recorders play a critical role in averting road mishaps as they deliver precise and impartial video evidence of the events preceding and during the accident, thereby assisting in identifying responsibility and backing insurance claims. For instance, the Bureau of Infrastructure and Transport Research Economics (BITRE), a government body based in Australia, revealed in January 2024 that a devastating total of 1,266 lives were lost on Australian roads in 2023, marking a 7.3% surge from 2022. Consequently, the rising number of road accidents is a significant contributor to the growth of the car digital video recorder market.
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What Long-Term Trends Will Define the Future of the Car Digital Video Recorder Market?
Major firms in the car digital video recorder market are concentrating on creating advanced solutions such as in-car video rear or side cameras, aimed at providing documented proof in instances of disputes or accidents. These devices, installed in cars, capture visual data from the rear or side views, enhancing visibility and safety by tracking activities around the vehicle. For example, i-PRO Co. Ltd., a company based in Japan with expertise in advanced sensing technologies, introduced the WV-VCR40W in-car video rear or side camera in August 2024. This camera, a component of the i-PRO ICV4000 system, provides high-resolution and wide-angle video monitoring. This device is uniquely designed for use by law enforcement, military personnel, and emergency responders. It facilitates comprehensive surveillance from the back seat, side, or rear of the vehicle. The ICV4000 and WV-VCR40W allow for a smooth and efficient transfer of video evidence to the i-PRO Unified Digital Evidence (UDE) management system via Wi-Fi, a mobile router, or a mobile data terminal with cellular connectivity. The UDE simplifies processes for officers and investigators by enabling them to store, manage, review, and share footage from within a single, integrated platform integrating in-vehicle and body-worn cameras.
Which Segments in the Car Digital Video Recorder Market Offer the Most Profit Potential?
The car digital video recorder market covered in this report is segmented -
1) By Product Type: Single Channel, Dual Channel, Triple Channel
2) By Storage Type: SD Card Storage, Cloud Storage, Internal Storage
3) By Technology: Basic, Advanced, Smart
4) By Feature Set: Standard Dash Cameras, GPS-enabled Dash Cameras, Wi-Fi-enabled Dash Cameras, Cloud-connected Dash Cameras, ADAS-enabled Dash Cameras
5) By Distribution Channel: Online Stores, Offline Stores
Subsegments:
1) By Single Channel: Front-Facing Camera, Rear-Facing Camera, Cabin-Facing Camera
2) By Dual Channel: Front And Rear Cameras, Front And Cabin Cameras, Rear And Cabin Cameras
3) By Triple Channel: Front, Rear, And Cabin Cameras, Front, Rear, And Side Cameras, Front, Rear, And Blind-Spot Cameras
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Which Firms Dominate the Car Digital Video Recorder Market by Market Share and Revenue in 2025?
Major companies operating in the car digital video recorder market are Sony Corporation, HP Inc., Panasonic Corporation, Koninklijke Philips N.V., Garmin Ltd., Samsara Inc., Cobra Electronics Corporation, Pyle Audio Inc., Nextbase UK Ltd., Thinkware Corporation, REXing Inc., Auto-Vox Technology Co. Ltd., Cansonic Inc., Wolfbox Inc., iOttie Inc., DAZA Electronics Co. Ltd., Itronics Co. Ltd., Qrontech Co. Ltd., Vantrue Technology Co. Ltd., CNS Link Co. Ltd.
Which Regions Offer the Highest Growth Potential in the Car Digital Video Recorder Market?
North America was the largest region in the car digital video recorder market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the car digital video recorder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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