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The dashboard camera market is projected to reach US$ 7,260.97 million by 2028 from US$ 2,018.69 million in 2021; it is expected to grow at a CAGR of 20.1% from 2021 to 2028.
The rising frequency of automobile thefts and road accidents globally has propelled the product demand in the last few years. Dashboard cameras can help avoid insurance fraud, such as deliberately causing vehicle damage to avail false insurance claims. Regulatory reforms supporting the installation of dashcams in cars for security and safety measures in numerous countries, including the US, the UK, and Russia, also support the dashboard camera market growth. The use and ownership of dashcams are legal in the US, as their installation does not impede or break any laws. Notably, the installation and use of dashboard cameras were illegal in several states in the US, such as California, until 2011, when the government passed a law that lifted the ban from dashcams, with the imposition of a few restrictions.
High-tech dashboard cameras available in the market use computer vision and artificial intelligence to evaluate video recordings, giving them a better understanding of drivers’ activities, such as cell phone usage, eating, and weariness while driving. In August 2021, KeepTruckin, a market leader in fleet management technology, launched a new AI Dashcam powered by a sophisticated AI processor and intelligent computer vision algorithms for instant detection of unsafe driving with unrivaled accuracy the ability to alert drivers in real time. Advanced safety platforms support dashcams, leading to improved fleet management and enhanced driver safety. Similarly, the Nextbase 522GW high-tech dashboard camera integrates an intelligent parking mode for automatic recording if any movements are detected on the vehicle. The device also includes a 3-inch HD IPS display with Alexa-integrated playback, easy sharing, and menu selection. Such innovations are supporting the proliferation of the global dashboard camera market.
Based on technology, the dashboard camera market has been segmented into basic, advanced, and smart. Based on the product type, the market has been segmented into 1-channel, 2-channel, and rear view (front and rear view). Based on video quality, the dashboard camera market has been segmented into SD and HD, and full HD and 4K. Based on application, the dashboard camera market has been segmented into commercial vehicle and personal vehicle.
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Dashboard Camera Market: Strategic Insights
Market Size Value in US$ 2,018.69 million in 2021 Market Size Value by US$ 7,260.97 million by 2028 Growth rate CAGR of 20.1% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Dashboard Camera Market: Strategic Insights
| Market Size Value in | US$ 2,018.69 million in 2021 |
| Market Size Value by | US$ 7,260.97 million by 2028 |
| Growth rate | CAGR of 20.1% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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IMPACT OF COVID-19 PANDEMIC ON DASHBOARD CAMERA MARKET
North America, particularly the US, accounts for a major share of the global dashboard camera market. However, the declining sales of vehicles across the region hampered the demand for dashboard cameras in 2020. However, the impact of the pandemic is expected to persist over a short term, as the dashboard camera market is recovering with the successful implementation of vaccination drives. Further, North America is witnessing a rapid shift in customer preference toward electric vehicles (EVs), creating a solid growth opportunity for the dashboard camera market players as these systems play a vital role in providing sufficient data to ADAS systems and self-driving cars, thereby ensuring the safety of passengers. For example, Tesla enabled the in-car camera in its Model 3 and Model Y vehicles to monitor drivers when its Autopilot advanced driver assistance system is in use. Notably, EV sales increased to 200% in the US from Q2 2020 to Q2 2021, accounting for a domestic penetration rate of 3.6% during this period. As the automotive sector is regaining its pace with the resumption of operations at manufacturing sites, growing demands for driver safety concerns, and rising insurance frauds are creating notable growth opportunities for the dashboard camera market players in North America.
Lucrative Regions for Dashboard Camera Market
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Market Insights– Dashboard Camera Market
Mounting Demand from Commercial Fleet Operators Provides Significant Opportunities to Dashboard Camera Market Players
The quality of service provided by public vehicle drivers is one of the most crucial aspects of any fleet management. Regardless of vehicle size, they need skilled, responsible, and trustworthy employees that are experts in their job. It is common knowledge that monitoring significantly impacts people's behavior. People’s behavior alters when they are aware that they are being observed through a tinted glass in an interrogation room or a surveillance camera at the workplace. Commercial vehicle dashcams can have a similar effect on drivers, benefiting vehicle owners.
Logistics monitoring assists in tracking fleets that are constantly moving, and transporting freight and materials worldwide. As much of their performance depends on time and punctuality, having trustworthy technology to assist with logistics management is critical. Commercial fleet providers can stay ahead of the competition with an AI-supported dashcam logistics fleet monitoring system. It is simple to track freight using a network of dash cameras integrated with a control center, showing the location of all the fleet's vehicles. Logistics companies use computers or mobile devices to load all semi-trucks and logistics cargo sites. Vehicle whereabouts are sent to dispatch in real time, allowing them to schedule freight pickup and arrival schedules. For instance, the installation of iDrive Camera Systems allows drivers to stay alert and focused on the camera to create a safe environment and help avoid crime and vandalism on the vehicle. Thus, the surging need for dashcams are creating significant opportunities for the future growth of dashboard camera market players.
Application-Based Insights
Based on application, the dashboard camera market is segmented into commercial vehicle and personal vehicle. The personal vehicle segment led the dashboard camera market in 2020. As personal vehicle dashboard cameras are preferably located to watch the complete road ahead, every accident that customers witness or are engaged in is recorded. Dashcams or in-car cameras are fixed on the dashboard or the vehicle's windscreen. It starts recording as soon as a user switches on the car’s ignition. So, the customer will have the recordings of every drive, and upon getting involved in any incident, they might use the video proof to understand the complete incidence. Wi-Fi connectivity is a standard feature on several luxury automobiles. Hence, customers require a high-tech dashboard camera that would add an advantage to the safety concerns. Audi Connect is available in the Audi RS 4 Avant, and the BMW 5 Series features a Wi-Fi hotspot that allows customers to access the internet while on the road.
Dashboard Camera Market, by Application – 2020 and 2028 (%)
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Players operating in the dashboard camera market are mainly focused on developing advanced and efficient products.
- In June 2021, Garmin Ltd. launched the all-new 2021 voice-controlled dashboard camera series with automatic video storage, and new Parking Guard and Live View features. The Live View-enabled monitoring enable drivers to capture the moments at which an incidents occur. Product diversification through advancements in technologies related to dashcams is expected to create solid growth opportunities for the company.
- In January 2021, Panasonic Corporation announced its first fully wireless Wi-Fi camera, offering convenience, durability, and increased ease for recreational hauling.
Based on technology, the dashboard camera market is segmented into basic, advanced, and smart. Based on product type, the dashboard camera market is segmented into 1-channel, 2-channel, and rear view (front and rear view). Based on video quality, the dashboard camera market is segmented into SD and HD, and full HD and 4K. Based on application, the dashboard camera market is segmented into commercial vehicle, and personal vehicle. Based on geography, the dashboard camera market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Company Profiles
- ABEO Technology CO., Ltd
- Garmin Ltd.
- Pittasoft Co. Ltd.
- Falcon Electronics LLC
- Panasonic Corporation
- Cobra Electronics Corporation
- SAFE CAMS
- THINKWARE
- Harman International
- LG Innotek
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Product Type, Video Quality, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on Technology, the global dashboard camera market is segmented into basic, advanced, and smart. The dashboard camera market was dominated by the advanced segment in 2020.
Europe dominated the Dashboard Camera Market in 2020 with a share of 35.1%; it would continue to dominate the market by 2028. Asia Pacific is the second-largest contributor to the global Dashboard Camera Market, followed by North America.
The major companies in dashboard camera market are ABEO Technology CO., Ltd; Garmin Ltd.; Pittasoft Co. Ltd.; Falcon Electronics LLC; Panasonic Corporation; Cobra Electronics Corporation; SAFE CAMS; THINKWARE; Harman International; and LG Innotek.
The major application of the dashboard camera includes commercial vehicle, and personal vehicle. In terms of market share, the market was dominated by the personal vehicle segment in 2020.
The quality of service provided by public vehicle drivers is one of the most crucial aspects of any fleet management. Regardless of vehicle size, they need skilled, responsible, and trustworthy employees that are experts in their job. It is common knowledge that monitoring significantly impacts people's behavior. People’s behavior alters when they are aware that they are being observed through a tinted glass in an interrogation room or a surveillance camera at the workplace. Commercial vehicle dashcams can have a similar effect on drivers, benefiting vehicle owners. Logistics monitoring assists in tracking fleets that are constantly moving, and transporting freight and materials worldwide. As much of their performance depends on time and punctuality, having trustworthy technology to assist with logistics management is critical. Commercial fleet providers can stay ahead of the competition with an AI-supported dashcam logistics fleet monitoring system. It is simple to track freight using a network of dash cameras integrated with a control center, showing the location of all the fleet's vehicles. Logistics companies use computers or mobile devices to load all semi-trucks and logistics cargo sites. Vehicle whereabouts are sent to dispatch in real time, allowing them to schedule freight pickup and arrival schedules. For instance, the installation of iDrive Camera Systems allows drivers to stay alert and focused on the camera to create a safe environment and help avoid crime and vandalism on the vehicle. Thus, the surging need for dashcams are creating significant opportunities for the future growth of dashboard camera market players.
The count of road accidents has been increasing since the past decade with the rising number of vehicles on city and highway roads. According to a report by the World Health Organization (WHO), every year, ~1.3 million people lose their lives due to traffic accidents. Non-fatal injuries impact ~20‒50 million people annually, resulting in disability and consequent loss of income. Individuals, families, and national economies incur significant economic losses due to road traffic injuries. According to data provided by the National Highway Traffic Safety Administration, ~38,680 people died in vehicle traffic crashes in 2020, i.e., the largest estimated number of fatalities since 2007, representing an increase of 7.2% compared to the 36,096 fatalities reported in 2019. In road accidents, a dashboard camera and recording systems can help fleets and regular motorists prove liability and protect innocent drivers. The footage captured by dash cams acts as a vital source of high-quality evidence for resource-strapped law enforcement authorities. The police can't be everywhere, but CCTV and in-vehicle cameras provide thousands of extra eyes on the streets. While police’s attitude and the legislation differ from country to country, many law enforcement agencies consider footage from citizen cameras a valuable tool in investigating and prosecuting crimes. Users are being encouraged to submit recordings of their dash cameras, whenever required. The Metropolitan Police Service in London introduced an online portal in October 2016; each year, the ~7,000 recordings are collected through this service, with contributed material being used to support over 300 prosecutions.
The List Of Companies - Dashboard Camera Market
- ABEO Technology CO., Ltd
- Garmin Ltd.
- Pittasoft Co. Ltd.
- Falcon Electronics LLC
- Panasonic Corporation
- Cobra Electronics Corporation
- SAFE CAMS
- THINKWARE
- Harman International
- LG Innotek
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
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Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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