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According to the latest report by IMARC Group, The global dashboard camera market size reached US$ 3.5 Billion in 2022.
UNITED STATES, July 26, 2023/EINPresswire.com/ — IMARC Group, a leading market research company, has released a report titled “Dashboard Camera Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. According to the report, The global dashboard camera market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.57% during 2023-2028.
A dashboard camera, also known as a dashcam or car camera, is a compact video recording device mounted on the dashboard or windshield of a vehicle. It is designed to capture a continuous video feed of the road ahead and, in some cases, the interior of the vehicle. The primary purpose of a dashboard camera is to provide a visual record of events that occur while driving. Dashboard cameras typically have wide-angle lenses to capture a broad field of view. They record high-definition video footage, often with additional features such as time stamps, GPS data, and motion sensors. Some advanced models offer features like night vision, loop recording, and collision detection. The recorded footage from a dashboard camera can be used as evidence in case of accidents, helping to determine liability and protect drivers from fraudulent claims. Dashboard cameras can also be useful for insurance purposes, as the recorded footage can help expedite the claims process and prevent fraudulent claims. They provide an additional layer of security, accountability, and peace of mind for drivers by recording their journeys and providing a visual record of events. In recent years, dashboard cameras have gained popularity among individual drivers, commercial fleets, and professional drivers such as truckers and taxi drivers across the globe.
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Dashboard Camera Market Trends and Drivers:
The global dashboard camera market is primarily driven by increasing concerns about road safety and the need for evidence in case of accidents. Dashboard cameras provide a visual record of events on the road, aiding in determining liability and protecting drivers from fraudulent claims. Moreover, the availability of advanced features such as high-definition video recording, GPS data, and collision detection is positively influencing the market growth. Apart from this, the rising popularity of dashcams among individual drivers, commercial fleets, and professional drivers has catalyzed market growth. Additionally, the governments of numerous countries are encouraging the use of dashboard cameras through supportive policies due to the recognition of the benefits of dashboard cameras in improving road safety is propelling the market growth. Besides this, numerous technological advancements, including the development of compact, user-friendly dashcams with enhanced functionalities, attracting more consumers is another major growth-inducing factor. Furthermore, increasing awareness of insurance benefits associated with dashcams, such as expedited claims processing and reduced premiums, has augmented product demand. Other factors, including the implementation of favorable government policies, inflating consumer disposable incomes, and rapid growth in the automotive industry, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Technology:
Basic
Advanced
Smart
Breakup by Product:
1-Channel
2-Channel
Rear View
Breakup by Video Quality:
SD and HD
Full HD and 4K
Breakup by Application:
Commercial Vehicle
Personal Vehicle
Breakup by Distribution Channel:
Online Stores
In-store
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
ABEO Technology CO. Ltd
Aiptek International GmbH
Amcrest Technologies Llc
CNSLink Ltd.
Cobra Electronics Corporation (Cedar Electronics Corporation)
DigiLife Technologies Co. Ltd. (KYE Systems Corp.)
DOD Technologies Inc
Garmin Ltd.
LG Electronics Inc.
Panasonic Corporation
Pittasoft Co. Ltd.
Steelmate Co. Ltd.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here
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