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AUTOMOTIVE & TRANSPORTATION

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

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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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.

  • 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.

 

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

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 Middle East and Africa)

 

The global dashboard camera market is estimated to garner a revenue of ~ USD 12 Billion by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 4 Billion in the year 2022. The growth of the market can primarily be attributed to the growing use of dashboard camera in the cars worldwide, and increased number of cars produced every year. It was observed that, as of 2022, worldwide ~17.7% of people have car, which is around 1.400 billion cars globally.

dashboard camera market overview image

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With the recent advancements in technology as well as artificial intelligence (AI) in automotive sector, the demand for AI assisted dashboard camera is 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 approximately USD 12 billion in 2020.

Global Dashboard Camera Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Vehicle Theft – can be reduced with the help of dashboard camera, so the dashboard camera market is expected to boost in the projected period. It allows the driver to take control of the vehicle's security and records the incidents such as theft, crashes and vandalism. As per an estimation, in United States, around 724,872 vehicles were stolen in 2019, which grew up more by ~11% in 2020.

  • Benefit of Dashcam in Insurance Cost – for instance, depending on the specific policies & requirements, some insurance companies give a dashboard camera insurance discount to drivers. The discounts range between 10 and 15% to up to 30% off.
  • Increasing Burden of Road Traffic Crashes – which is estimated to cost 3% of gross domestic product 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

Challenges

  • Concern about Privacy Invasion – has increased recently owing to the increased theft and robbery cases. As a result, the adoption rate of dash camera is expected to slow down.

  • Stringent Policies & Regulations Regarding the Use of Dashboard Camera

  • Concern about the Size of Dashboard Camera

The global dashboard camera market is segmented and analyzed for demand and supply by video quality into standard definition (SD) & high definition (HD) camera, and full HD & 4K camera. Amongst these segments, the full HD & 4K camera segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand for full HD & 4K cameras as they simply pick up more detail as well as the surge in the demand for having better quality footage along with 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 non-fatal injuries.

Global Dashboard Camera Market Regional Synopsis

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 backed by the presence of a strong security network in the region, growing number of automobiles, as well as the rising awareness amongst the drivers about the benefits of dashboard camera. For instance, it was estimated that more than 10 million vehicles in the United Kingdom had dashboard cameras in their vehicles in 2020.

dashboard camera market share image

Market Segmentation

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

       By Product Type

  • 1-Channel
  • 2-Channel
  • Rear View

      By Technology

  • Basic
  • Advanced
  • Smart

      By Video Quality

  • Sd & HD Camera
  • Full HD & 4K Camera

      By Distribution Channel

  • In-Store
  • Online

      By Application

  • Personal Vehicle
  • Commercial Vehicle

Top Featured Companies Dominating the Global Dashboard Camera Market

  • 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

 

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