Dashboard Camera Market to Reach USD 9.1 Billion By 2032

According to analysts at Vantage Market Research, the Global Dashboard Camera Market size is worth USD 4.12 Billion in 2023 and is projected to reach USD 9.1 Billion by 2032, growing at a CAGR (Compound Annual Growth Rate) of 9.3% from 2024 to 2032. The rise in traffic accidents and the need for evidence in legal and insurance claims are further fueling this growth. Additionally, the affordability of advanced dashcams and supportive regulatory frameworks contribute to the market's expansion.

Market Overview

Dashboard camera has gained significant popularity due to the increase in vehicle accidents. These cameras assist drivers by continuously recording incidents on both the front and rear of the vehicle, with the footage stored in a DVR box inside the car. This recorded material is crucial for legal proceedings, insurance claims, and overall protection. The dashboard camera market is expanding in response to the rising number of road accidents and heightened safety concerns. The WHO reports that there are 1.3 million road accidents globally each year. As a result, governments worldwide are requiring the installation of rearview cameras in vehicles to improve safety and reduce accidents.

The integration of advanced technologies such as Artificial Intelligence (AI) & vehicle telematics has greatly improved dashcam applications for both passenger and commercial vehicles. AI enhances dashboard camera by providing real-time monitoring of the vehicle’s surroundings, offering live scene analysis and object detection for safer driving. Modern dashcams also utilize cloud technology and the Internet of Things (IoT), automatically transferring and storing video files in the cloud. These features help detect distracted driving, tailgating, rolling stops, and aggressive driving, making them vital safety tools.

Garmin Unveils Dash Cam Live: LTE-Enabled Device for Real-Time Monitoring and Enhanced Security

In January 2023, Garmin launched the Garmin Dash Cam Live, a new LTE-enabled dash cam that provides drivers with a live view of their vehicle's exterior. With an LTE subscription, users can view real-time footage via the Garmin Drive app, offering comprehensive monitoring of the Dash Cam Live's surroundings. The device also enhances security with theft and incident alerts while the vehicle is parked. It records high-definition 1440p video with a 140-degree field of view and Garmin Clarity HDR optics, delivering clear and detailed footage both day and night.

Key Takeaways from the Report

• In 2023, Europe led the global market with a 34.5% share, driven by rising road traffic and the crucial role of dash cams in ensuring safety and liability, while complying with regulations on driving interference and data privacy
• The Asia Pacific region is expected to experience the highest growth rate, projected at 12.04% from 2024 to 2032
• The Basic Technology segment accounted for 61.2% of the total revenue in 2023, due to its ease of use and low production costs
• In terms of application, the Personal Vehicle segment was the market leader in 2023 with a 65.3% revenue share, driven by the rise in road accidents, increasing safety concerns, and the availability of affordable, advanced cameras

Top Companies

• 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

Latest News

Qubo Introduces New Dashcam Models

• In October 2023, Qubo, a smart device brand from Hero Electronix, released the Dashcam Pro X and Dashcam Pro 3K models. These new dashcams come equipped with advanced features including GPS tracking, loop recording, time-lapse, and both front and rear cameras for comprehensive real-time vehicle monitoring.