"Market Intelligence for High-Geared Performance"

Dashboard Camera Market Size, Share & Industry Analysis, By Technology Type (Basic, Advanced, and Smart), By Channel Type (Single and Dual), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2024– 2032

Last Updated: April 29, 2024 | Format: PDF | Report ID: FBI103046

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global dashboard camera market size was valued at USD 0.40 billion in 2023 and is projected to grow from USD 0.46 billion in 2024 to USD 3.72 billion by 2032, exhibiting a CAGR of 29.8% during the forecast period 2024-2032.


Dashboard camera or dashcam is a device mounted on the vehicle's dashboard, also known as a car digital video recorder. The primary function of a dashcam is the careful and accurate recording of every detail on the road. This onboard camera continuously records the front view through a vehicle's windscreen and sometimes rear or other windows. Dashboard cameras are installed on the vehicle’s front windscreen and sometimes rear screen.


Dashboard cameras have gained significant popularity in recent years due to increasing vehicle accidents. The cameras mainly help the drivers continuously record incidents happening on the front and rear sides of the vehicle and store them in a DVR box placed inside the car. The footage recorded by these cameras is beneficial for legal proceedings, insurance claims, and protection purposes.


The COVID-19 pandemic had a mixed impact on the dashboard camera market. While initial disruptions in supply chains and manufacturing processes affected production and distribution, the market witnessed an increased demand driven by a growing emphasis on safety and security amid the pandemic. With concerns about road safety and insurance fraud rising, consumers have shown greater interest in dashboard cameras for their vehicles, leading to a surge in sales despite economic uncertainties.


Dashboard Camera Market Trends


Adoption of IoT and Artificial Intelligence to Set a Positive Trend in the Market


The introduction of advanced technologies, such as Artificial Intelligence (AI) and vehicle telematics, has significantly improved the dashcam application for both passenger and commercial vehicles.


Artificial intelligence is used in dashboard cameras for real-time monitoring of internal and external surroundings while driving. The AI-integrated dashcams help by providing live scene analysis and object detection to drivers to ensure safe driving. For instance, the camera can alert the driver in real-time if a vehicle is approaching at an appropriate speed from behind so that the driver can immediately decide to avoid a collision.


Advanced dashcams are embedded with features such as identity blurring to protect privacy, live streaming of video footage, high-definition video recordings, prolonged video recording, and storage, among others. Modern dashcams are integrated with cloud technology and the Internet of Things (IoT), which automatically transfer & store video files in a cloud storage space. Dashcams are becoming life savior as they help in detecting distracted driving, tailgating, rolling stops, and rash driving.


Request a Free sample to learn more about this report.


Dashboard Camera Market Growth Factors


Implementation of Stringent Government Regulations Related to On-road Safety and Increasing Vehicle Thefts along with Insurance Frauds to Drive the Market Growth


The dashboard camera market size is expanding due to a rise in the number of road accidents and increased safety concerns. As per the World Health Organization (WHO), 1.3 million road accidents occur yearly globally. As a result, governments worldwide are legislating to install rear-view cameras in automobiles to improve safety and avoid accidents.


Moreover, vehicle theft is a severe concern for personal vehicle owners globally. According to the National Insurance Crime Bureau report for 2022, 932,329 vehicles were reported stolen to law enforcement in 2021, a 6% increase over 2020 and a 17% increase since 2019. Hence, to mitigate the fatalities, the U.S. government has strongly emphasized improving safety and also invested USD 6 billion for five years to reduce roadway crashes. The government has also increased funding for the Highway Safety Improvement Program, which is helping the states adopt data-driven approaches to making roads safer.


Rising police corruption, high rates of accidents, unsafe road conditions, and their low cost and easy availability are driving the adoption of dashcams. European countries, including the U.K., Denmark, Italy, Malta, the Netherlands, Serbia, Spain, Sweden, Russia, Turkey, Czech Republic, Romania, Poland, Ireland, Finland, and Slovenia have made it legal to install dashcams to prevent car robberies. All these factors will drive the dashboard camera market growth.


RESTRAINING FACTORS


Rising Cybersecurity Concerns and Regulations May Restrain the Adoption of Dashcams.


The advent of Advanced Driver Assistance Systems (ADAS) and connected cars has significantly improved the overall driving experience and made driving more secure. However, the more society becomes connected using technology, the more cybersecurity concerns it attracts. Cybersecurity experts continuously criticize dashboard cameras over privacy concerns. Numerous security vulnerabilities have been pointed out by experts in the past that may lead to user data breaches and cyber-attacks.


Rising cybersecurity concerns and regulations are significant restraints on the adoption of dashcams in the automotive industry. As vehicles become increasingly connected and data-driven, there is a growing awareness of the potential risks associated with onboard cameras, particularly in terms of privacy and data security. Recent incidents of cyberattacks targeting connected vehicles have highlighted the vulnerability of in-car systems, raising concerns among consumers and policymakers.


In response to these concerns, governments and regulatory bodies are imposing stricter regulations on data privacy and cybersecurity in the automotive sector. For example, the European Union's General Data Protection Regulation (GDPR) and similar legislation in other regions require companies to adhere to stringent data protection standards and obtain explicit consent from consumers before collecting and processing personal data. Failure to comply with these regulations can result in hefty fines and reputational damage for automakers and technology providers.


Furthermore, the automotive industry is facing increasing pressure from cybersecurity standards organizations and industry associations to implement robust security measures in connected vehicles, including dashcams. For instance, the International Organization for Standardization (ISO) has developed standards such as ISO/SAE 21434 to guide manufacturers in the implementation of cybersecurity measures throughout the vehicle lifecycle. As a result, automakers and technology providers are investing heavily in cybersecurity solutions and collaborating with regulatory authorities to address these challenges and build trust among consumers.


Dashboard Camera Market Segmentation Analysis


By Technology Type Analysis


Advanced Dashcam to Hold Higher CAGR over the Forecast Period Owing to Booming Sales across the Globe


Based on technology type, the market is bifurcated into basic, advanced, and smart. The advanced segment held a significant market size in 2023 in the dashcam market. An increase in demand for new technologically sound dashcams will drive the market growth of advanced dashboard cameras. Moreover, the growing focus on increasing drivers' safety will further boost the adoption of advanced cameras.


The smart segment held a market size of 0.04 billion in 2022, and is anticipated to register a CAGR of 26.8% over the forecast period. Increasing demand for safety features due to incidents such as carjacking or car theft from parking lots and ride surveillance in the luxury car rental sector will boost the segment growth.


The basic segment accounted for a significant market share in 2022 and is anticipated to grow at a CAGR of 21.8% over the forecast period. Increasing expenditure on safety and rising accidents lead to increased demand for dashcams, which is anticipated to propel the segmental market growth during the forecast period.


To know how our report can help streamline your business, Speak to Analyst


By Channel Type Analysis


Growing Preference for Dual Channel Dashboard Cameras to Fuel Market Growth


The market is categorized into single and dual based on channel type. The single segment is currently the largest shareholder with a market size of USD 0.25 billion and is anticipated to continue its dominance. In the public sector, these dashcams have become common in police vehicles, buses, and ambulances. Commercially, they are mostly found in delivery vans, taxis, corporate fleets, and driving instructor vehicles. These factors will impel the growth of the single-channel dashcam segment.


The dual segment is estimated to be the fastest-growing segment with a CAGR of 29.0% during the forecast period. Some of the dual channel dashcams are equipped with motion detection capabilities that turn on the camera if there is movement in the car. This is extremely useful in the event of theft or an accident. Therefore, increasing demand for new technologically advanced dashcams will drive market growth.


By Vehicle Type Analysis


Growing Implementation of Dashcams in Passenger Cars to Propel the Segmental Growth


The market is categorized into passenger cars and commercial vehicles based on vehicle type.


The passenger cars segment is currently the largest shareholder in the global market and is anticipated to dominate the market throughout the forecast period.


Increasing awareness about the benefits of dashcams amongst the people and the need to record the entire trip during travel purposes is anticipated to propel the growth of the passenger car segment. Also, increasing passenger car sales worldwide, especially electric vehicles, are also expected to drive the passenger car segment.


The commercial vehicle segment is estimated to grow at the highest rate over the forecast period. Insurance companies referring to dashcam footage to settle claims and prevent fraud have encouraged fleet managers and commercial vehicle owners to install dashcams. Also, with increasing automation in the automotive industry, dashcams, with the help of autonomous driving and ADAS, can help achieve driverless fleets.


REGIONAL INSIGHTS


Europe Dashboard Camera Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


Europe is the largest market in terms of value in the global market. It will dominate in the forecast period owing to increased vehicle sales, the adoption of the latest technology, an increasing demand for safe driving, and many others.


The Europe market dominated the global market in 2023 with a highest market share and is estimated to show similar characteristics in the forecast period. The people in Russia first adopted the concept of dashcams, which subsequently spread to the UK and Germany. Their use became mandatory as the country was rampant with fear of aggressive drivers, insurance fraud, and accidents improperly examined without the necessary technology.


The North America market held a significant market size in 2023 and also fastest growing in forecast. The growth is attributed to the use of dashcams by U.S. law enforcement officers to provide corroborating evidence in criminal cases. Rideshare drivers are the prominent dashboard camera consumers in this region.


The market in Asia Pacific is projected to grow at a CAGR of 26.7% during the forecast period. Increasing adoption of upcoming technologies, including ABS, ADAS, vehicle telematics, and dashcams, propels the Asia Pacific dashboard camera market share. Furthermore, growing demand for passenger cars from emerging economies such as China, India, and Malaysia leads to rising procurement of dashcams, thereby driving regional growth.


The rest of the world held a market size of 0.01 billion in 2022. Rising tourism, increasing expenditure on rider safety, and rising adoption from the Middle Eastern countries drive market growth. As per Arab news, dashcams are gaining popularity in Saudi Arabia as people install them to record violations, car accidents, theft, fraud, and dangerous actions and share them as evidence.


List of Key Companies in Dashboard Camera Market


Companies are Focusing on Mergers & Acquisitions and Partnerships to Gain Competitive Edge


The companies are focusing on cost-reduction strategies, strategic partnerships, and acquisitions to enhance their product offerings. They are leveraging AI and IoT technologies to improve their products and strengthen their footprint in the global market. For instance, in January 2023, Verizon Connect launched a new AI dashcam solution in selected countries in EMEA and APAC. The AI-powered dashcam is designed to deliver an array of advanced fleet innovations. The AI dashcam provides more insights into risky events for fleet managers and gives drivers real-time, in-cab coaching alerts during high-risk driving behaviors.


List of Key Companies Profiled:



  • Valeo SA (France)

  • Aptiv (Ireland)

  • Honeywell International Inc. (U.S.)

  • Panasonic Corporation (Japan)

  • Garmin Ltd. (U.S.)

  • Koninklijke Philips N.V. (Netherlands)

  • DOD Tech. (Taiwan)

  • Waylens, Inc. (U.S.)

  • ABEO Company Co., Ltd. (Taiwan)

  • Pittasoft Co. Ltd. (South Korea)

  • LG Innotek Co., Ltd. (South Korea)

  • Papago Inc. (Taiwan)

  • Steelmate Automotive (China)

  • Qihoo 360 Technology Co., Ltd. (China)

  • Xiaomi (China)


KEY INDUSTRY DEVELOPMENTS:



  • February 2024 - LG Innotek made a significant advancement in automotive technology by creating a dashboard camera module equipped with a built-in heater, ensuring functionality in cold climates. This innovation is particularly targeted at enhancing the performance of autonomous vehicles in frosty conditions, such as in the South Korean region.

  • January 2024 - Ficosa and indie Semiconductor partnered for the development of AI-based automotive camera solutions. The partnership would provide enhanced safety and help develop and commercialize automotive camera solutions by deploying neural network-based (NN) artificial intelligence (AI) processing.

  • January 2023 - BlackVue Dash Cameras introduced its upcoming lineup at the 2023 Consumer Electronics Show (CES) in Las Vegas. The new dash cameras will feature a 4K UHD camera with built-in LTE connectivity and a secure box model with three cameras and a separate recording unit.

  • September 2022 – 70mai, one of the industry-leading auto intelligence companies, launched a rotatable Dash Cam Omni. The patented 360° rotating design 70mai utilizes an AI algorithm to boost car safety during parking surveillance.

  • June 2021 – Garmin International, Inc., announced four new dashcams with cloud-connected storage. The Dash Cam Mini 2, 47, 57, and 67W all feature remote monitoring of parked vehicles and free online video storage for up to 24 hours post-incident. All the dashcam models feature new online Vault storage and Live View remote monitoring to increase parked vehicles' security.

  • January 2021 Panasonic Corporation partnered with holographic startup Envisics to develop Augmented Reality (AR) Head-up Display for vehicles. The new technology from Panasonic can detect the speed of moving objects from afar, detect pedestrians, and guide for a seamless, more engaged, and informed driving experience.

  • January 2020 Nextbase launched its latest feature-packed 622GW 4K Dash Cam at CES 2020. The dashcam provides accurate location based on a worldwide resolution of three meters and can provide emergency services with a precise location even offline.


REPORT COVERAGE


The report provides an automotive application type market analysis and focuses on key aspects such as leading companies, product/service types, and leading product applications. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the market's growth in recent years.


To gain extensive insights into the market, Request for Customization


REPORT SCOPE & SEGMENTATION



















































ATTRIBUTE



DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 29.8% from 2024 to 2032



Unit



Value (USD Billion) & Volume (Thousand Units)



Segmentation



By Technology Type



  • Basic

  • Advanced

  • Smart



By Channel Type



  • Single

  • Dual



By Vehicle Type



  • Passenger Cars

  • Commercial Vehicles



By Region



  • North America (By Technology Type, By Channel Type, By Vehicle Type)

    • U.S. (By Technology Type)

    • Canada (By Technology Type)

    • Mexico (By Technology Type)



  • Europe (By Technology Type, By Channel Type, By Vehicle Type)

    • Germany (By Technology Type)

    • France (By Technology Type)

    • U.K. (By Technology Type)

    • Rest of Europe (By Technology Type)



  • Asia Pacific (By Technology Type, By Channel Type, By Vehicle Type)

    • China (By Technology Type)

    • India (By Technology Type)

    • Japan (By Technology Type)

    • South Korea (By Technology Type)

    • Rest of APAC (By Technology Type)



  • Rest of the World (By Technology Type, By Channel Type, By Vehicle Type)






Frequently Asked Questions

As per a study by Fortune Business Insights, the market size stood at USD 0.40 billion in 2023.

The market is likely to grow at a CAGR of 29.8% over the forecast period (2024-2032).

The advanced segment is expected to lead the market due to the development of high-performance application types over the forecast period.

Some of the top players in the market are Aptiv, Honeywell International Inc., and Garmin Ltd.

The Europe region dominated the market in terms of market size in 2023.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 206

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

KIA
Bosch
Deloitee
Hitachi
Toshiba

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X