"Market Intelligence for High-Geared Performance"
Europe is the largest region in the global dashboard camera market. The Europe dashboard camera market size is projected to grow at a CAGR of 23.2% during the forecast period. The European market is projected to grow from USD 0.17 billion in 2022 to USD 0.83 billion by 2030.
The growing number of road accidents and vehicle thefts has propelled the Europe dashboard camera market growth. According to Home Office data, vehicle thefts in England and Wales surpassed 101,000 in 2021. Less than 28% of stolen vehicles were recovered in 2021, compared to 80% in 2006. The rise in vehicle thefts will increase the adoption of dashboard cameras across the region, as using dashcams can minimize the risk of theft and vandalism.
In addition, several insurance companies are contributing to the increase in dashboard camera sales by offering discounts on car insurance, as it can reduce insurance fraud or claims by capturing video events. For instance, in the U.K., major insurance companies, such as AXA Swiftcover, are offering a premium of 15% when a user has a dashcam. Other insurance companies are giving an average of 10% of the premium.
Growing Demand for Smart Dashcams in Luxury and Enterprise Vehicles, along with Driving Instructors, will Propel Market Growth
Today’s dashcams are equipped with IoT and AI to understand driver behavior. The utilization of dashboard cameras is growing significantly for various advanced driver assistance systems, including lane departure warning systems, driver drowsiness monitoring systems, automated emergency braking, and others. Market players are leveraging AI & IoT solutions and launching enhanced products to increase their customer base.
For instance, in January 2022, Nextbase announced its next-generation iQ series of smart dash cams at CES 2022. The new iQ models are designed to increase safety and security by adding 4G LTE connectivity. The Nextbase iQ is a two-camera smart dashcam system available in three different versions depending on the front camera's resolution. Two cameras are integrated into the unit's housing; one pointed forward that captures in 1080p, 1440p, or 4K resolution and another monitoring the cabin in either 1080p or 1440p. An optional third wired remote camera points out the rear window, capturing at 1440p.
Increasing Acceptance of Dashcam Footage in the Insurance Industry will Boost Market Growth
Daily growing evidence of policies and insurance claims related to accidents propels the demand for dashcam systems in Europe. Dashcam footage is mostly used as evidence of risky driving and to settle insurance claims.
Insurance companies have started accepting dashcam recordings as evidence in claims. The growing usage of dashcams has also led to a considerable rise in the amount of video footage being sent to the police to report people committing traffic offences.
As per the Nextbase report, one of the leading manufacturers in Europe, dashcams have become increasingly popular in the U.K., with sales increasing by 918% since 2016. In 2022, Nextbase witnessed a 200% increase in sales of dashcams to manufacturers. Nextbase saw an increase in its market share to 76% in the U.K., 55% in Europe, and 20% in the U.S. Such trends show a rising demand for dashcams in the U.K. market.
Stringent Laws Imposed Against the Use of Dashcams in Certain European Countries to Limit Market Growth
A major factor expected to hinder the growth of the global market is the stringent laws imposed against the use of dashboard cameras in certain countries. The use of these cameras is forbidden by law and is considered a violation of privacy in certain European countries such as Portugal, Luxembourg, and Austria. Using dashcams or recording devices in public is considered illegal, and violators will face hefty fines for breaking these laws, thus restraining the market growth.
For instance, according to the Belgian Camera Act, regulating the installation and use of surveillance cameras in private places accessible to the public is liable to be reported.
In terms of competitive landscape, Aptiv, Valeo SA, Nextbase, and Koninklijke Philips N.V. are the key players in the Europe market, owing to their strong product offerings, active involvement in R&D investments, and acceleration of product launches and approvals over the forecast period.
Other prominent players, such as LG Innotek and Garmin Ltd., are also leading the market due to their strong distribution networks and diverse product portfolios, including artificial Intelligence (AI)-powered dashboard cameras. Other major players are Panasonic Corporation, Waylens, Inc., and others. These companies are focused on strengthening their product portfolio and distribution network through strategic collaboration and partnerships to increase the European market share.
To gain extensive insights into the market, Request for Customization
The market research report provides a detailed analysis of the market. 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.
CAGR of 23.2% from 2023 to 2030
Value (USD Billion)
Technology Type; Channel Type; Vehicle Type; and Country/Sub-Region
By Technology Type
By Channel Type
By Vehicle Type
By Country/ Sub-Region
Growing at a CAGR of 23.2%, the market will exhibit steady growth in the forecast period (2023-2030)
Rising demand for minimal-invasive procedures and increasing initiatives by market players to introduce innovative products are the major factors driving the growth of the market.
Valeo, Aptiv, and Koninklijke Philips N.V. are the major market players in Europe.
Germany dominated the market in 2022.
“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.”- UGlobal 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