Dashboard Camera Market Size & Share, by Product Type (1-Channel, 2-Channel, Rear View); Technology (Basic, Advanced, Smart); Video Quality {Standard Definition (SD), High Definition (HD), Full HD & 4K Camera}; Distribution Channel (In-Store, Online); Application (Personal, Commercial Vehicle) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4419
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Dashboard Camera Market size is poised to cross USD 12 Billion by the end of 2033, growing at a CAGR of 12% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of dashboard camera was around USD 4 Billion. The growth of the market can be attributed to the growing use of dashboard cameras in the car across the globe owing to the additional facilities provided by dashboard cameras which can help automobile owners in several conditions, such as, footages captured by the cameras can be provided as proof to police officers and their insurance companies. This growth factor is also backed by the higher production and sales volume of the vehicles worldwide. It was observed that in 2022, approximately 18% of people across the globe were noticed to own at least 1 car which resulted in around 1.5 billion cars being driven on road.

Global dashboard camera market trends such as, advancements in technology as well as artificial intelligence (AI) in the automotive sector coupled with the high demand for AI assisted dashboard cameras are on the rise amongst the motor vehicle users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global dashboard camera market during the forecast period. For instance, the global investment in automotive artificial intelligence (AI) was estimated to be approximately USD 12 billion in 2020. Additionally, the dashboard camera for bikes comes in two options, single and dual channel. Single channel cameras are forward-facing to capture in-front activities, while dual channel camera is a two-camera setup that can record in-front activities along with the rear side of the bike. Dual channel cameras are highly preferred by the riders since they allow them to record re-end type accidents as well. Therefore, all these factors are expected to propel the market’s growth over the forecast period.


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Dashboard Camera Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Instances of Vehicle Theft to Boost the Market Growth – As per an estimation, in the United States, around 724,872 vehicles were stolen in 2019, which grew up more by ~11% in 2020.
  • Vehicle theft can be reduced with the help of a dashboard camera, so the global dashboard camera market is expected to boost in the projected period. Moreover, it allows the driver to take control of the vehicle's security and records the incidents such as theft, crashes, and vandalism.
  • Benefit of Dashcam in to Claim Insurance Cost – for instance, depending on the specific policies & requirements, some insurance companies give a dashboard camera insurance discount to drivers. As per the data reported, the average discount range for claiming insurance is expected to be around 15 to 30% off globally. 
  • Increasing Burden of Road Traffic Crashes – traffic crashes are estimated to cost around 3% of gross domestic product (GDP) in most countries.
  • Rising Research & Development (R&D) Spending in the Automotive Sector – it was found that, the global R&D spending reached to more than USD 135 billion in the automotive sector in 2020.
  • Upsurge in the Sales of New Light-Vehicle – for instance, projecting a surge of ~12.5% compared to 2020, the sale is estimated to reach ~16 million units in 2021 worldwide.

Challenges

  • Concern about Privacy Invasion
  • Stringent Policies & Regulations Regarding the Use of Dashboard Camera
  • High Cost Associated with Dashboard Cameras - Dashboard cameras are expensive to buy since they include several expensive mini parts and a cheap camera may have more disadvantages. The average cost for a dashboard camera is estimated to be between 100 to 400 U.S. dollars. Additionally, trusted brands of dashboard cameras also charge a high amount of since they provide all the necessary features. Hence, such a higher price of dash cams may limit the growth of the market during the forecast period.

Dashboard Camera Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

12%

Base Year Market Size (2022)

USD 4 Billion

Forecast Year Market Size (2033)

 USD 12 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Dashboard Camera Segmentation

Video Quality {Standard Definition (SD), High Definition (HD), Full HD & 4K Camera}

The global dashboard camera market is segmented and analyzed for demand and supply by video quality into standard definition (SD), high definition (HD), and full HD & 4K Camera. Out of the three types of segments, the full HD & 4K Camera segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the growing demand for full HD & 4K cameras as they simply pick up more detail, as well as the surge in demand for having better quality footage along with the rising number of road accidents worldwide. According to the World Health Organization data on Road traffic injuries 2022, road traffic crashes take the lives of ~ 1.3 million people every year whereas between 20 and 50 million people suffer from non-fatal injuries across the globe.

Distribution Channel (In-Store, Online)

The global dashboard camera market is also segmented and analyzed for demand and supply by distribution channel into in-store and online. Amongst these segments, the in-store segment is expected to garner a significant share. The growth of the segment is accounted to the convenience of shopping with full credibility, for instance, a person can get an in-person demo at a store. Apart from that, stores have been a traditional distribution channel for distribution of dashboard cameras. Moreover, dashboard cameras can be found at car workshops, car dealerships, and others, and it is predicted to surge the segment’s growth in the region. For instance, in 2021, the number of trademark car workshops found in Germany was estimated to be around 14,000 while the number of independent car workshops noticed to be nearly 22,000. Furthermore, there has been adoption of artificial intelligence (AI) in retail, that is further anticipated to drive the segment’s growth in the market.

Our in-depth analysis of the global market includes the following segments:

              By Product Type

  • 1-Channel
  • 2-Channel
  • Rear View

               By Technology

  • Basic
  • Advanced
  • Smart

                By Video Quality

  • Standard Definition (SD) Camera
  • High Definition (HD) Camera
  • Full HD & 4K Camera

               By Distribution Channel

  • In-Store
  • Online

                By Application

  • Personal Vehicle
  • Commercial Vehicle

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Dashboard Camera Industry - Regional Synopsis

Europe Market Forecasts

The Europe dashboard camera market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the presence of a strong security network in the region, the growing number of automobiles, as well as the rising awareness amongst the drivers about the benefits of a dashboard camera. For instance, it was estimated that more than 10 million vehicles in the United Kingdom had dashboard cameras in their vehicles by 2020. In European countries, people are more inclined to install dashboard cameras on account of high road accident rates owing to extreme weather conditions. Moreover, people in this region are more prone to adopt dashboard cameras for insurance proof. Furthermore, the instances of vehicle theft in the region are further expected to enlarge the market size over the forecast period. For instance, nearly 700,000 cars were stolen between 2015 to 2018 in the European Union, where Switzerland became the first country with approximately 700 car theft cases in a similar time period. Hence, all these factors are estimated to hike the market growth in the region over the forecast period.

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Companies Dominating the Dashboard Camera Landscape

top-features-companies
    • Ford Motor Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Daimler Truck AG
    • Hitachi, Ltd.
    • Jaguar Land Rover Automotive PLC
    • Motive Technologies, Inc.
    • Dashcams Limited
    • Panasonic Holdings Corporation
    • Garmin Ltd.
    • Amcrest Technologies, LLC
    • Cedar Electronics Corporations

In the News

  • Daimler Truck AG - Mercedes-Benz Trucks now has second MirrorCam generation, evolving some important details of the mirror camera system. It is available for the Actros and Arocs as well as eActros series since April 2022. The trucks combine vital details and has won multiple Innovation Awards.

  • Ford Motor Company - and ADT Inc. together invested in a new joint venture called Canopy. The venture combines Ford’s AI-driven video camera technology with ADT’s professional security monitoring to help customers strengthen security of new and existing vehicles across automotive brands. This technology has created a new category for the protection of personal and work vehicles.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 4419
  • Published Date: Feb 24, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing burden of road traffic crashes, and upsurge in the sales of new light-vehicle are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 12% over the forecast period, i.e., 2023-2033.

Concern about privacy invasion, and stringent policies & regulations regarding the use of dashboard camera

The market in the Europe region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Daimler Truck AG, Hitachi, Ltd., Jaguar Land Rover Automotive PLC, Motive Technologies, Inc., Dashcams Limited, Panasonic Holdings Corporation, Garmin Ltd., Amcrest Technologies, LLC, Cedar Electronics Corporations, and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by product type, technology, video quality, distribution channel, application, and others.

The HD & 4K Camera segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Dashboard Camera Market Report Scope
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