Car Digital Video Recorder (DVR) Market Size, Share & COVID-19 Impact Analysis, By Type (Single Channel, Dual Channel), By Application (Passenger Car, Commercial Vehicle), and Regional Forecast, 2020-2027

The global car DVR market size was valued at USD 2616.00 million in 2019 and is projected to reach USD 3255.85 million by 2027, exhibiting a CAGR of 5.1% during the forecast period.

A car digital video recorder (DVR) is a product designed for use in vehicles such as trucks and passenger cars. These devices can be used to record vehicle journeys or provide accident or theft evidence on video in the event of a legal situation. The product is a portable system that is inclusive of a 120-degree wide-angle lens that can capture high definition videos and display them on an LCD screen in the car or any other device. Car DVRs are attached to the vehicle’s windshield and are capable of capturing objects from a distance of 30 to 40 meters. The increasing number of road accidents and car thefts has led to a greater product adoption in passenger cars and commercial vehicle fleets.

Impact of COVID-19 Pandemic on Car DVR Market

The shift of the outbreak's epicenter to North America and Europe has emphasized the need for a measured approach from the automotive companies. Supply chain disruptions, rising economic uncertainty and the pandemic's global spread has led to uncertainty across a range of critical areas. Most manufacturers in this market depend on parts sourced from China which is likely to pose a problem, especially for lower-level companies.

Sustained truncation of consumer demand is expected to significantly impact the profitability of key players in the market. Manufacturers are likely to be compelled to divert capital to continue operations, which in turn curtails R&D funding for technological advancement initiatives such as expanding storage capacities of the in-vehicle cameras, improving video quality aimed at reproducing details under unfavorable situations and integrating such drive recorders with other advanced driver assistance technologies.

The market for drive recorders is rapidly expanding particularly in developing economies, which has ultimately become a key area of focus for market players. However, a continued decline in demand is likely to compel manufacturers to exit unprofitable markets, which in turn is expected to lower manufacturing capacity and lead to a significant revenue drop over the next two years.

LATEST TRENDS

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Technological Advancements in Multi-Lens Cameras

Owing to an increasing preference for dual lens car DVRs over the single-channel variant, particularly among commercial fleet owners, multi-lens in-car cameras represent a substantial investment opportunity for key market players. These systems enable both front and rear video recording with a higher resolution feed.

For instance, the F200, a two-channel (2CH) drive recorder developed by Thinkware equipped with wide dynamic range capability can record in full HD 1080p and also offers rear video recording at 720p. Additionally, these systems provide drivers the options to connect smartphones directly to the dashcams via the built-in Wi-Fi functionality and thus easily adjust settings and download vehicle footage. Hence, the increased R&D for multi-lens systems is expected to positively impact in-car camera adoption among end-users.

DRIVING FACTORS

Averting Insurance Fraud with the Aid of Car Camera Footage

Rise in insurance coverage scams faced by drivers is a crucial factor for the increased adoption of in-vehicle cameras as the footage obtained from these cameras are being accepted for insurance claims and to prove liability.

Additionally, many insurance companies are also offering discounts of up to 15% on monthly premiums for using dash-cams in their vehicles to prevent fraudulent insurance and medical compensation claims via fake car accidents. An example of growing awareness regarding the benefits of this technology is the Senate Bill (S438) proposed by New York State in 2017, under which a 5% discount would be offered to non-commercial vehicle owners for using in-vehicle cameras. These factors are responsible for fueling the growth of the market across the globe.

Increasing Vehicle Thefts and Road Accidents

Car DVRs are primarily used by law enforcement agencies across the globe. However, the increasing use among personal vehicle owners as well as commercial fleets over the past few years owing to a rise in the incidents of vandalism, theft, and vehicle collision will bode well for market growth. This technology allows drivers to document such incidents and effectively control their on-road security.

For instance, dash-mounted video cameras are extremely popular in Russia owing to lax and often corrupt law enforcement as well as a legal system that rarely favors first-hand accounts of traffic collisions that have made in-vehicle cameras a necessity for many drivers. These factors are likely to drive market growth over the forecast period.

RESTRAINING FACTORS

Privacy Infringement Concerns Expected to Limit Product Adoption

Technological advancements in DVRs such as built-in Wi-Fi, motion sensors, and night vision capabilities have led to an increased cost burden on consumers. Furthermore, features such as accessing the DVR via smartphone and the built-in Wi-Fi leaves the in-vehicle camera susceptible to security threats such as hacking and illegally recording car interior footage and private conversations. Hence, several countries have outright banned their usage. For instance, DVR use in Switzerland owing to concerns over data protection principles is strongly discouraged and they are prohibited by law in Austria where their use carries a heavy fine.

Hence, privacy protection protocols in various countries are likely to restrain the growth of the market.

SEGMENTATION

By Type Analysis

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Single Channel DVR Expected to Hold the Largest Share of the Market

On the basis of type, the market is segmented into single channel and dual channel DVR. The single-channel (1-channel) DVR dominated the market in 2019. Single-channel cameras are either mounted on the dashboard or the windshield and can only record the road that is in front of the vehicle. This segment is likely to retain its position as the highest market revenue generating type over the forecast period. This can be attributed to a significant reduction in the selling price of 1-channel DVR over the past few years, which is likely to fuel the growth of the market over the forecast period.

The dual-channel (2-channel) segment is also expected to show significant growth in the coming years. Unlike dual-channel DVRs, single-channel variants cannot be upgraded to capture interior footage of a vehicle by adding an external secondary unit. This factor is largely responsible for commercial users such as taxi operators and trucking companies preferring 2-channel variants for their operations. Hence, the dual-channel segment is projected to grow at a considerably high growth rate over the forecast period.

By Application Analysis

Passenger Vehicle Segment Dominated the Market in 2019

Based on application, the market is segmented into passenger cars and commercial vehicles. The passenger car segment is expected to hold the largest car DVR market share over the forecast period. Road safety regulations and standard laws in place in several countries coupled with greater awareness among consumers regarding the benefits associated with car DVRs have resulted in the increasing product demand in the passenger car segment. Furthermore, the integration of in-vehicle recorders with various driver assistance functionalities is likely to boost the adoption of car DVR among personal vehicle owners.

The commercial vehicle segment is also expected to show steady growth in this market. Greater adoption by commercial fleet owners and ride-sharing operators aiming to improve fleet monitoring coupled with substantial impetus by transport authorities to adopt in-vehicle cameras is expected to propel the demand for car DVR in this segment.

REGIONAL INSIGHTS

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The market size in North America stood at USD 814.90 million in 2019. The market in North America is characterized by a combination of commercial and consumer use for drive recorders. The popularity of ridesharing companies such as Lyft and Uber and a large trucking and haulage industry represent the potential for increasing product penetration in this region.

The largest hurdle towards greater car DVR adoption in Europe is overcoming privacy infringement laws. For instance, in countries such as France in-vehicle recorders have been legalized for private use, however, consumers are restricted from uploading DVR footage publicly online. However, countries such as the UK represent a significant growth potential for the car DVR market as the only law for such cameras in the UK is they must not hinder driving or obstruct the field of vision for the driver. Moreover, Germany recently passed a law that accepts DVR footage as evidence in the highest court. Hence, Europe is expected to show considerable growth in the market.

The market in Asia Pacific is characterized by the presence of global manufacturers, increasing the popularity of car cameras in this region. Increasing vehicle sales in countries such as China, South Korea, and India coupled with problems with road safety and fraud in South East Asian countries are responsible for the rapid adoption of vehicle video recorders in this region.

KEY INDUSTRY PLAYERS

Garmin Ltd., Panasonic Corporation, and Pittasoft Co. Ltd. to Emerge Leading

A large number of manufacturers are either headquartered or operate manufacturing facilities in Asia Pacific, particularly in Taiwan and South Korea. Integrating advanced interactive features with in-vehicle cameras is a key area of focus for leading manufacturers such as DOD Tech, Garmin Ltd., Panasonic Corporation among others.

The majority of the manufacturers are exploring possibilities of integrating wide dynamic range (WDR) capabilities to improve video quality and the ability of DVRs to reproduce details under various light intensity scenarios. To ensure the safety and security of commercial fleets, ride-sharing service providers such as Uber and Lyft are installing DVRs in their vehicles. Hence, commercial markets represent a significant investment opportunity for key market major players over the forecast period.

LIST OF KEY COMPANIES PROFILED:

• Garmin Ltd. (Kansas, U.S.)


• ABEO Technology (Hangzhou, Taiwan)


• Pittasoft Co. Ltd. (Gyeonggi-do, South Korea)


• Panasonic Corporation (Osaka, Japan)


• Falcon Zero LLC (New Jersey, U.S.)


• Cobra Electronics Corporation (Illinois, U.S.)


• DOD Tech (Taoyuan, Taiwan)

KEY INDUSTRY DEVELOPMENTS:

• January 2020 – Garmin International Inc. launched the Garmin Dash Cam Tandem, the company's first dual-lens dash cams that provides drivers complete video coverage of their surroundings via the use of two 180-degree field of view lenses that record in tandem day and night and other features such as its exclusive NightGlo technology which further enhances video capture in low light conditions.


• February 2019 – Panasonic Corporation, as part of its expanding Public Safety Solutions portfolio in North America, launched a new compact in-vehicle camera, the AS-1 Arbitrator, to provide law enforcement agencies with enhanced video evidence capture functionalities.

REPORT COVERAGE

The car DVR market research report includes a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.

An Infographic Representation of Car DVR (Digital Video Recorder) Market

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