01-Aug-2022 | Zion Market Research
The global dash cam market size was worth around USD 3,541.3 million in 2021 and is estimated to grow to about USD 7,027.4 million by 2028, with a compound annual growth rate (CAGR) of approximately 12.1% over the forecast period. The report analyzes the dash cam market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the dash cam market.
A dashboard camera, commonly referred to as a dashcam, car DVR, event data recorder (EDR), or driving recorder, is a specialized portable onboard camera mounted inside a car's windscreen. The term "dashboard camera" refers to a small video camera that is mounted on the dashboard or windscreen of passenger cars as well as commercial vehicles like lorries and trailers. The electrical system of the car is used to power these cameras. Both manual and automatic controls are available, with the automatic system activating the moment the car's ignition is turned on.
During the anticipated period, the global dashboard camera market is anticipated to be driven by rising auto sales, the development of the automotive industry, favorable insurance policies, an increase in thefts & traffic accidents, the incorporation of numerous safety components into vehicles, and practical dashboard camera installation mandates. Further fueling the growth of the global market in the upcoming year are anticipated to be the availability of a wide range of products under driver-assistance systems and the introduction of new inventive technological applications by businesses. The global market is also developing as a result of the increasing confidence that drivers of cars have in these cameras to provide them with safety and legal protection during traffic incidents.
The global dash cam market is segregated based on technology, product, video quality, application, and distribution channel. Based on technology, the market is divided into basic, advanced, and smart. From 2021 to 2028, the smart dashboard camera market is anticipated to grow at the highest CAGR of in terms of revenue. Based on product, the market is divided into 1-channel, 2-channel, and rear view (front & rear view). From 2021 to 2028, the rear-view market is anticipated to grow at the highest CAGR in terms of volume. Based on video quality, the market is divided into SD & HD and Full HD & 4K. In terms of volume, it is predicted that the full HD & 4K segment will experience the highest CAGR of more than 15.5 percent during the projection period. Based on application, the market is divided into commercial vehicles and personal vehicles. With a revenue share of over 65.0 percent in 2021, the personal vehicle market is projected to have the highest CAGR from 2021 to 2028. Based on the distribution channel, the market is divided into online and in-store. With a revenue share of more than 62.0 percent in 2021, the in-store category led the market and is anticipated to hold that position throughout the forecast period.
In terms of sales, Europe held the largest share in 2021 in the global dash cam market at more than 33.0 percent. Despite a sizable portion of the world's dash cam demand coming from the region, many of its nations have outright banned these devices. With the high accident rates, widespread police corruption, hazardous driving conditions, and affordable & readily available technology, most people in nations like Russia install dashboard cameras in their personal vehicles. Additionally, nations like the United Kingdom, Italy, and France are quickly introducing digital video recorders in cars to record video evidence for investigations that may be utilized in federal courts. Instead, they use of recording devices or dashboard cameras is entirely forbidden in nations like Austria, Luxembourg, and Portugal, and violators may face severe penalties for breaking these rules. Asia Pacific is anticipated to experience the fastest volume growth from 2021 to 2028. With the supportive government initiatives, consumer-focused marketing tactics, and growth in the number of on-road vehicles, it is predicted that demand for dashboard cams in the region would rise throughout the forecast period. The advantages of dashboard cams are now being recognized by numerous governmental organizations and individual drivers. Throughout the forecast period, dashboard cameras are expected to grow in popularity in the region since they serve as vital documentation that can protect the user financially and legally.
Browse the full “Dash Cam Market By Technology (Basic, Advanced, and Smart), By Product (1-Channel, 2-Channel, and Rear View (Front & Rear View)), By Video Quality (SD & HD and Full HD & 4K), By Application (Commercial Vehicles and Personal Vehicles), By Distribution Channel (Online and In-store), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/dash-cam-market
Global Dash Cam Market is segmented as follows:
By Video Quality
By Distribution Channel
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