What Has Driven the Growth of the Dashboard Camera Market in Recent Years?
The dashboard camera market has seen considerable growth due to a variety of factors.
• The exponential expansion of the dashboard camera market has been quite apparent in recent years. The projection indicates an increase from $4.56 billion in 2024 to a substantial $5.48 billion in 2025, reflecting a compound annual growth rate (CAGR) of 20.3%.
Superior economic growth in upcoming markets, ascending number of road mishaps worldwide, escalation in the count of false insurance claims, and a surge in vehicle theft are some of the contributing factors to this remarkable growth during the historic period.
What Is The Projected Growth And Market Size For The Dashboard Camera
The dashboard camera market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the dashboard camera market is set to witness substantial growth. The market is forecasted to expand to $11.18 billion by 2029, showing a compound annual growth rate (CAGR) of 19.5%.
The growth within the forecast period is largely due to an increase in consumer concern for safety in vehicles, growing sales of electric and hybrid cars, greater employment of advanced driver assistance systems, and a swift surge in universal vehicle production. Key trends throughout this period will include enhanced focus on dashboard cameras merged with telematics systems, fleet monitoring technology, intelligent dashboard cameras for driver support and security, product innovations, dashcams connected via long-term evolution (LTE or 4G), and technological progress.
What Factors Are Driving Growth In The Dashboard Camera Market?
The rise in road mishaps is fuelling the expansion of the dashboard camera market. Distracted driving has emerged as a bigger risk and has been a significant reason for vehicle accidents in recent years. For example, Road Trauma Australia, a branch of infrastructure, transport, regional development, communications, and the arts, reported that in May 2023, Australia witnessed 1,194 road accident deaths in 2022, marking a 5.8% surge compared to 2021. Hence, the escalating number of road accidents is expected to foster the growth of the dashboard camera market.
What Are The Main Segments Of The Global Dashboard Camera Market?
The dashboard camera market covered in this report is segmented –
1) By Type: 1-Channel, 2-Channel, 3-Channel, Rear View
2) By Technology: Basic, Advanced, Smart
3) By Application: Commercial Vehicle, Personal Vehicle
Subsegments:
1) By 1-Channel: Front-Facing Cameras
2) By 2-Channel: Front and Rear Cameras
3) By 3-Channel: Front, Rear, and Interior Cameras
4) By Rear View: Integrated Rearview Mirror Cameras, Standalone Rear View Cameras
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What Emerging Trends Are Influencing The Growth Of The Dashboard Camera Market Landscape?
The emergence of dashboard cameras combined with telematics systems is a significant trend becoming increasingly common in the dashboard camera industry. This system utilizes GPS and onboard diagnostics (OBD) to monitor the movements of vehicles, machinery, and other assets, presenting this information on a digital map. Often referred to as fleet tracking or GPS vehicle tracking, telematics has transformed into an essential management resource for various private and public fleets. Prominent firms in the dashboard camera industry are pivoting their attention to the production of telematic system-incorporated dashboard cameras to fortify their market stance. For instance, HCSS, a software provider for heavy civil businesses based in the US, unveiled the HCSS ADPlus Fleet Dashcam in June 2023. It's a plug-and-play dashcam with an in-built AI processor capable of identifying driving scenarios such as forward collisions and irresponsible driver actions such as using a phone during driving or getting distracted. Heavy building enterprises can implement the HCSS Dashcams in their fleet vehicles to safeguard drivers and avert accidents.
Who Are the Key Players in the Dashboard Camera Market?
Major companies operating in the dashboard camera market include:
• JVCKENWOOD Corporation
• Panasonic Holdings Corporation
• LG Innotek
• Garmin International
• DigiLife Technologies CO. Ltd
• Philips
• Pittasoft
• Nexar
• Falcon Electronics LLC
• Nextbase
• Huawei Technologies Co
• Vantrue
• 70mai
• Shenzhen Teamspower Electronics Company Ltd
• Huizhou Boshijie Technology Co.Ltd
• Huizhou Great-Will Industrial Co. Ltd
• Shenzhen Ouxiang Electronics Co. Ltd
• Shenzhen Ease-Way Tech. Co. Ltd
• Qubo Car Dash Camera
• F5 WiFi Dash Cam Front
• Thinkware
• Connixion
• Concox
• Midland
• Osram
• MOBOTIX
• Blaupunkt
• Promwad
• Mobius Action Cam
• Rexing V1LG
• Blackboxmycar
• Canada Computers
• Jimi IoT
• DDPAI
• Redtiger
• CPPlus
• Loconav
• Verizon Connect
• Krishcom
• Zane Wave
• Mvp Tech
• N Tech Security Systems
• Ansari Security Systems
• V-ITS
• FleetCam
• Eyetrust Surveillance
• Edacom CC
• CAMERA TRAPS.
What Is The Most Dominant Region In The Dashboard Camera Market?
North America was the largest region in the dashboard camera market in 2024. Europe was the second-largest market in the dashboard camera market. The regions covered in the dashboard camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
