Dashboard Camera Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Dashboard Camera Market
The dashboard camera market size was reached at a value of USD 0.40 billion in 2023, and the market is now projected to grow from USD 0.46 billion in 2024 to USD 3.72 billion by 2032, exhibiting a CAGR of 29.8% during the forecast period of 2023-2030.
The COVID-19 pandemic has varying impact on the dashboard camera industry due to reduced supply chain and hindered manufacturing process. With growing safety concerns and insurance fraud, consumers are shifting their preference towards utilizing dashboard camera market.
Due to increase in traffic accidents and safety concerns of vehicle theft, the market is witnessing remarkable growth opportunities during projection period. Implementation of stringent government rules on road safety, and insurance fraud are leading market to expand rapidly. Government enacting legislation to require rear-view cameras in automobiles for safety purposes and avoid accidents cases across the globe which is promoting market growth significantly. Moreover, vehicle theft is also a major issue for the vehicle owners and other reasons such as rising police corruption, high accident rates, unsafe road conditions, as well as their low cost and ease of availability, are boosting dashboard camera market growth.
Additionally, due to adoption of IoT and artificial intelligence to avoid theft cases will fuel dashboard camera market growth. Integration advanced technologies such as artificial intelligence and vehicle telematics have improved dashboard applications for passenger and commercial cars boosting market growth. Dashboard cameras analyze their internal and exterior surroundings in real time while driving by utilizing artificial intelligence. AI-enabled dashcams assist drivers by offering live scene analysis and object detection to ensure safe driving.
Comprehensive Analysis of Dashboard Camera Market
The dashboard camera market is rising with an exponential rate due to its market segmentation. This market expansion effectively provides a detailed geographical assessment considering the dominant supply and demand forces that impact the automotives management industry. These segmentations are methodically segregated by types of technology, by channel and by vehicle type. The types of By Technology Type segment include Basic, Advanced, and Smart, and By Channel Type segment include Single and Dual. However, By Vehicle Type segment include Passenger Cars and Commercial Vehicles.
In the dashboard camera market, Asia Pacific region lead the automotives devices market by benefitting a market size of USD 193.3 billion in 2023 owing to Implementation of stringent government rules on road safety and due to adoption of IoT and artificial intelligence to analyze surrounding.
The prominent players in the market play a crucial role in the dashboard camera industry assuring industrial prospectus growth and setting market standards. These players include, Valeo SA (France), Aptiv (Ireland), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Garmin Ltd. (U.S.), Koninklijke Philips N.V. (Netherlands), DOD Tech. (Taiwan), Waylens, Inc. (U.S.), ABEO Company Co., Ltd. (Taiwan), Pittasoft Co. Ltd. (South Korea), LG Innotek Co., Ltd. (South Korea), Papago Inc. (Taiwan), Steelmate Automotive (China), Qihoo 360 Technology Co., Ltd. (China) and Xiaomi (China) these prominent market players provide a level-playing competitive landscape.
In February 2024, LG Innotek made a significant contribution to automobile technology by developing a dashboard camera module with a built-in heater, ensuring functionality in cold regions. This innovation is aimed specifically at improving the functioning of driverless vehicles in cold weather, such as in the South Korean region.
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 29.8% from 2024 to 2032
Unit Value (USD Billion) & Volume (Thousand Units)
Segmentation By Technology Type
Basic
Advanced
Smart
By Channel Type
Single
Dual
By Vehicle Type
Passenger Cars
Commercial Vehicles
By Region
North America (By Technology Type, By Channel Type, By Vehicle Type)
- U.S. (By Technology Type)
- Canada (By Technology Type)
- Mexico (By Technology Type)
Europe (By Technology Type, By Channel Type, By Vehicle Type)
- Germany (By Technology Type)
- France (By Technology Type)
- U.K. (By Technology Type)
- Rest of Europe (By Technology Type)
Asia Pacific (By Technology Type, By Channel Type, By Vehicle Type)
- China (By Technology Type)
- India (By Technology Type)
- Japan (By Technology Type)
- South Korea (By Technology Type)
- Rest of APAC (By Technology Type)
Rest of the World (By Technology Type, By Channel Type, By Vehicle Type)
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