Dashboard Camera Market

The global Dashboard Camera Market is valued at USD 4.12 Billion in 2023 and is projected to reach a value of USD 9.1 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 9.3% between 2024 and 2032

Key Highlights

• In 2023, Europe dominated the global market with 34.5% of the market share, driven by increased road traffic and the essential role of dash cams in safety and liability, while adhering to regulations on driving interference and data privacy
• The Asia Pacific region is projected for the highest growth rate, i.e., 12.04% from 2024 to 2032
• The Basic Technology segment held 61.2% of the overall revenue share in 2023 owing to its easy usage and the low production costs
• Based on Application, the Personal Vehicle segment dominated the market in 2023 with 65.3% revenue share, driven by an increase in road accidents, growing concerns about safety and security, and the availability of affordable, advanced cameras
• Increasing popularity of dual-channel dash cams that record both the front and rear views, providing comprehensive coverage and enhanced security for vehicle owners

Premium Insights

Recently, Dashboard Camera has seen a surge in popularity due to the rise in vehicle accidents. These cameras help drivers by continuously recording incidents on both the front & rear sides of the vehicle, storing the footage in a DVR box inside the car. This recorded footage is valuable for legal proceedings, insurance claims, and general protection purposes.

The Dashboard Camera market is growing due to the increasing number of road accidents and safety concerns. According to the WHO, there are 1.3 million road accidents globally each year. Consequently, governments around the world are mandating the installation of rearview cameras in vehicles to enhance safety and prevent accidents.

Furthermore, the vehicle theft is a major concern for personal vehicle owners worldwide. The National Insurance Crime Bureau reported that 932,329 vehicles were stolen in 2023, a 6% increase from 2020 and a 17% increase since 2019. In response, the U.S. government has invested USD 6 billion over five years to reduce roadway crashes and has increased funding for the Highway Safety Improvement Program, which helps states adopt data-driven approaches to road safety.

The introduction of advanced technologies such as Artificial Intelligence (AI) & vehicle telematics has significantly enhanced dashcam applications for passenger and commercial vehicles. AI is used in Dashboard Camera for real-time monitoring of internal and external surroundings while driving, providing live scene analysis and object detection to ensure safe driving. Modern dashcams also integrate with cloud technology and the Internet of Things (IoT), automatically transferring and storing video files in the cloud. These dashcams help detect distracted driving, tailgating, rolling stops, and rash driving, making them essential safety tools.

The dual-channel cameras are expected to see significant growth. For instance, in August 2022, DPPAI launched the Z50 dash cam model as part of the Z-series. The Z50, a 4K Dual Dash Cam, features advanced color boost algorithms and NightVIS technology, offering enhanced image processing and resolution, sharper details, balanced lighting, and vivid color even in dark conditions.

Top Market Trends

1. Increasing integration of ADAS features in dash cams, such as lane departure warnings, collision detection, and driver fatigue alerts, enhancing safety and driving assistance.
2. Rising demand for high-resolution dash cams (4K and above) for better image clarity and detailed footage, aiding in clearer evidence for insurance claims and legal purposes.
3. Growing adoption of cloud-connected dash cams that allow users to store, access, and share footage remotely via mobile apps, offering convenience and added security.
4. Advancements in IoT technology are leading to the development of smart dash cams that can communicate with other smart devices in the car, such as GPS, mobile phones, & smart home systems.
5. Technological improvements in night vision capabilities, including the use of infrared LEDs & advanced sensors, enabling better recording in low-light conditions.
6. Implementation of government regulations and insurance policies promoting or mandating the use of dash cams for commercial and private vehicles to improve road safety and reduce fraudulent claims.
7. Increased production and competition have made dash cams more affordable and widely available, leading to higher adoption rates among consumers across different regions.
8. Introduction of voice-controlled dash cams that allow users to operate the device hands-free, enhancing convenience and safety while driving.

Market Segmentation

The global Dashboard Camera market can be categorized into Technology, Product, Video Quality, Application, Distribution Channel, and Region. Based on Technology, the market can be categorized into Basic, Advanced, and Smart. Additionally, based on Product, the market can be split further into 1-Channel, 2-Channel, and Rear View. Based on Video Quality, the market can be divided into SD & HD and Full HD & 4K. Based on Application, the market can be split into Personal Vehicle and Commercial Vehicle. Based on Distribution Channel, the market can be divided into Online, In-Store. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Technology

In 2023, the Basic segment dominated the global market with 61.2% revenue share because of their ease of use and low production costs. Manufacturers have significantly lowered the entry barrier by offering dash cams with essential features and technology. These inexpensive dash cams can be installed within minutes, and most customers find the basic features satisfactory. Basic technology dash cams are especially popular in developing regions.

The smart technology segment is anticipated to grow at a compound annual growth rate (CAGR) of nearly 15.2% from 2024 to 2032. Increasing awareness of the benefits of cameras, propelled by frequent news footage of crashes & road accidents, has driven customer interest. Top companies now offer Wi-Fi-enabled models that allow customers to transfer videos to their smartphones via mobile apps, and they are also focusing on integrating GPS into Dashboard Camera.

In 2023, the advanced segment held a substantial market share in the market. The rising demand for technologically sophisticated dashcams is expected to drive the growth of advanced Dashboard Camera. Additionally, the increasing emphasis on enhancing driver safety will further promote the adoption of advanced cameras.

Based on Application

The Personal Vehicle segment dominated the market with 65.3% revenue share in 2023 due to the rise in road accidents, increased concerns over safety and security, and the availability of affordable, advanced cameras. According to the National Highway Traffic Safety Administration (NHTSA), 42,795 fatalities occurred in motor vehicle crashes in the United States in 2022. Dash cams have made it easier for drivers to provide evidence in accidents and help reduce insurance costs.

The commercial vehicle segment is expected to grow at a steady rate of nearly 9.1% from 2024 to 2032. The increasing need for vehicle fleet monitoring and management is a key driver of dashcam adoption among commercial vehicle fleet owners. Dash cams offer real-time vehicle monitoring, allowing fleet managers to track driver location & behavior, improving efficiency, reducing fuel costs, and boosting productivity.

Based on Region

Europe to lead the global market, accounting 34.5% revenue in 2023. As road traffic intensifies across European countries, the demand for safety-enhancing measures is rising. Dash cams are becoming increasingly essential, offering valuable records of events during accidents or disputes, and assisting authorities and insurance companies in assessing fault and liability. European regulations ensure that dash cams do not obstruct driving or facilitate the unauthorized sharing of personal vehicle information.

In the UK, the market is projected to expand at a compound annual growth rate (CAGR) of nearly 9.2%, driven by heightened awareness of dashcam benefits, a supportive regulatory environment, and advancements in automotive technology. Germany's market is expected to grow at a CAGR of around 7.01%, driven by the thriving automotive sector, increasing consumer demand for safety features, and stringent government regulations.

Asia Pacific is anticipated to experience the highest growth rate of 12.04% from 2024 to 2032. The increased affordability of dashcams has expanded their accessibility to a larger consumer base. Technological advancements have reduced manufacturing costs, making these devices more affordable for a broader audience in the region. The online distribution channel is gaining traction, with Dashboard Camera becoming increasingly popular in countries like India. This affordability has been crucial in driving market growth, particularly in countries with a growing middle class & expanding urban populations. Moreover, in China, the demand for dashcams is propelled by the rising incidence of traffic accidents & road violations, as well as significant adoption by commercial fleets such as taxi services and trucking companies.

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Competitive Landscape

Companies are focusing on cost-reduction, strategic partnerships, and acquisitions to enhance their product offerings, while utilizing AI and IoT technologies to boost their global market presence. For example, in September 2023, Firsttech LLC introduced the DroneMobile XC Dash Cam, which integrates with compatible remote start and security systems for real-time monitoring of vehicle surroundings. Additionally, in January 2023, Verizon Connect launched a new AI dashcam in select EMEA and APAC countries, offering advanced fleet innovations, real-time driver alerts, and improved insights into risky driving events.

The key players in the global Dashboard Camera market include - Garmin Ltd., Panasonic Corporation, Steelmate Automotive Ltd., Samsung Electronics Co. Ltd. (Harman International Industries Inc.), Amcrest Industries LLC, Qubo (A Hero Group Venture), ABEO Company Co., Ltd., CNSLink Ltd., DigiLife Technologies Co. Ltd., DOD Tech, Cobra Electronics Corporation, FINEDIGITAL Inc., Nexar among others.

Recent Market Developments

Qubo Unveils New Dashcam Models: Dashcam Pro X and Dashcam Pro 3K with Advanced Features

• In October 2023, Qubo, a smart device brand under Hero Electronix, launched new dashcam models: the Dashcam Pro X and Dashcam Pro 3K. These advanced devices feature GPS tracking, loop recording, time-lapse, and both front and rear cameras for real-time vehicle monitoring.

Garmin Launches Dash Cam Live: LTE-Enabled Device with Real-Time Monitoring and Enhanced Security

• In January 2023, Garmin introduced the Garmin Dash Cam Live, a new LTE-enabled dash cam that provides drivers with a live exterior view of their vehicle. With an LTE subscription, users can access real-time footage through the Garmin Drive™ app, allowing them to monitor everything within the Dash Cam Live's view. The dash cam also offers enhanced security with theft and incident alerts when the vehicle is parked. It records high-definition 1440p video with a 140-degree field of view and Garmin Clarity™ HDR optics, ensuring clear, detailed footage day or night.

Segmentation of the Global Dashboard Camera Market

Frequently Asked Questions (FAQ’s)?

1. What are Dashboard Camera?

Dashboard Cameras are compact devices designed to record the road and potentially the interior of your vehicle while you drive. They offer security and serve as evidence in the event of an accident. Dash cams can assist with insurance claims, provide emergency alerts, and capture memorable moments from road trips.

2. How big is the Dashboard Camera market?

The global Dashboard Camera market size was valued at USD 4.12 billion in 2023 and it is expected to hit USD 9.1 billion by 2032, registering growth at a CAGR of 9.3% from 2024 to 2032.

3. Do dash cameras record when the car is off?

Contrary to popular belief, dash cameras generally do not record continuously when the car is off. Most dash cams are linked to the vehicle's ignition system, beginning and ending recording when the engine is started or stopped.

4. Can Dashcams be used as CCTV?

CCTV systems, including Dashboard Cameras (or dashcams), can offer crucial evidence regarding the speed, movements, and reactions of the parties involved in a collision or incident.

5. Can Dashcams be used as CCTV?

CCTV systems, including Dashboard Cameras (dashcams), can deliver essential evidence about the speed, movement, and reactions of those involved in a collision or incident.

6. Is there a dashcam without wires?

A wireless dash cam utilizes built-in Wi-Fi or other wireless technology to connect with a smartphone or tablet via a companion app. It records video onto a memory card while wirelessly transmitting footage to the connected device.