Car DVR (Digital Video Recorder) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Car DVR (Digital Video Recorder) Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Car DVR (Digital Video Recorder) Market

The car DVR (Digital Video Recorder) market size was valued at USD 332.4 billion in 2023, and the market is now projected to grow from USD 367.8 billion in 2024 to USD 915.1 billion by 2032, exhibiting a CAGR of 12.1% during the forecast period of 2024-2032.

Owing to its detrimental impact on production activities, the COVID-19 pandemic caused ripple effects in various industries. Transportation limitations caused a major disruption in the supply chain, which in turn caused a shortage of raw materials. Shortages of labor and raw material resources resulted in a shortfall of output. As was already indicated, these elements hindered the market. These factors affected the car DVR (Digital Video Recorder) market growth.

The market is growing as dash cam technology advances. Customers these days want a second set of eyes on the road and are increasingly worried about safety when driving. Car DVRs have high-quality video resolution, the ability to record in low light, a lengthy loop, user-friendliness, and ample storage space. The number of claims containing video has dramatically increased in recent years, suggesting that the popularity of these gadgets is growing quickly. These particular growth driving factors have been recorded to attribute the car DVR (Digital Video Recorder) market share. The need for autonomous vehicles is rising as a result of an proliferation in traffic accidents caused by human error or a lack of safety systems in automobiles which has been a bane for the human kind as loss of lives and material take place.

In order to prevent unexpected incidents and identify faults, modern automobile DVRs are equipped with Internet of Things (IoT) technologies. The built-in WiFi connectivity of these gadgets makes it possible for them to easily connect to the driver. By offering a more comfortable driving experience, this technology will help to improve driver safety.

Comprehensive Analysis of Car DVR (Digital Video Recorder) Market

The single and dual channel segments of the market are based on channel. There are three segments of the market: basic, advanced, and smart, based on technology.

Europe is expected to be the leading region of this particular product market and is anticipated to to grow over the forecasted period and also will continue to hold the largest market share. The majority of European nations support the usage of automotive DVRs. Europe's laws governing the use of automobile DVRs differ from nation to nation. In nations like the Netherlands, Malta, Italy, and Spain, these are freely usable.

Moderate market fragmentation exists. In addition to spending money on R&D to manufacture items, these businesses have large production capacities. Garmin Ltd. (U.S.), Nextbase (U.K.), Pittasoft Co. Ltd. (South Korea), Panasonic Corporation (Japan), and Cobra Electronics Corporation (U.S.)are a few of the leading industry participants.

In January 2023, The only North American connectivity provider for Nextbase IQ, according to Nextbase, is T-Mobile. Enabling connection for every Nextbase IQ device in the United States and Canada is another way that this partnership will benefit the business. Real-time video, alerts, over-the-air upgrades, and other dashcam features will also be made possible as a result.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 12.1% from 2024 – 2032

Unit Value (USD Million), Volume (Thousand Units)

Segmentation By Channel

Single Channel

Dual Channel

By Technology

Basic

Advanced

Smart

By Geography

North America (By Channel and By Technology)

U.S. (By Channel)

Canada (By Channel)

Mexico (By Channel)

Europe (By Channel and By Technology)

U.K. (By Channel)

Germany (By Channel)

France (By Channel)

Russia (By Channel)

Rest of Europe (By Channel)

Asia Pacific (By Channel and By Technology)

China (By Channel)

India (By Channel)

Japan (By Channel)

South Korea (By Channel)

Rest of Asia Pacific (By Channel)

Rest of the World (By Channel and By Technology)


Please Note: It will take 5-6 business days to complete the report upon order confirmation.