A dashboard camera or simply dashcam is a compact image-capturing device or camera that can be easily fitted on the dashboard of the car or the windscreen, behind the rearview mirror. Being an onboard camera, it continuously records everything in front of the car through the vehicle's front windscreen and sometimes through the rear or other windows and also records the activities inside the car and even if it's being tampered with when parked. Dual-channel dashcam systems comprising two cameras provide high-resolution footage for front and rear video recording.
The global dashboard camera market was valued at ~USD 12 billion in 2022 and is expected to reach ~USD 4 billion in 2035, growing at a CAGR of 12% during the period of 2023 to 2033.
The major players operating in the market are Garmin Ltd, Panasonic Corporation, Samsung Electronics Co., Ltd. (Harman International Industries, Inc.), HP Development Company LP, Steelmate Automotive (UK) Ltd, Papago, and DOD Tech.
The traffic scenario has seen an overhaul in the past two decades. Conventional car models have given way to electric vehicles, hybrid, self-driving, and fully autonomous cars with technically advanced features. The use of smart technology to make driving easier and more convenient has been the factor driving the automotive market. Apart from that, the number of vehicles on the roads has also significantly multiplied and as a consequence, traffic congestion has grown substantially over the past 20 years. The use of dashboard cameras not only enhances the safety and security of the car and the driver but also works as an eyewitness traveling alongside. This awareness has consciously and continuously grown in the past decade. Hence, we can say that the awareness related to the dashboard cameras shows a lot of prospects for profitable growth for its key players and investors.