19-Aug-2019: The global dashboard camera
market size is expected to reach USD 5.94 billion by
2025, according to a new report by Grand View Research, Inc., exhibiting a
13.3% CAGR during the forecast period. Rising awareness among the global
population regarding vehicular safety, along with implementation of various
favorable government initiatives to boost adoption of such cameras, is driving
the global market.
A number of
European countries, such as France, Italy, and U.K. are encouraging the use of
digital video recorders (DVRs) in cars to record video clips for surveillance
purposes, which can also be ultimately used as evidence in judicial
proceedings. Several car insurance providers operating across U.K. have started
offering considerable discounts on car insurance premiums for vehicles fitted
with dashboard cameras. As a result of this, a majority of cab drivers and
fleet owners in the country are favorably inclined toward installation of such
cameras to save on insurance premium costs.
Similarly, a group
of startups in U.S. have developed an innovative business model, wherein they
offer monetary rewards to drivers for installing dashboard cameras in their
vehicles. The aim is to collect dash cam recorded data and ultimately aid
technology companies in building maps for self-driving cars. As a result, an
increasing number of ride-hailing service providers across North America, such
as Lyft and Uber, have begun deploying in-car DVRs to record their rides.
Prominent global
market players have started developing innovative car DVRs with advanced safety
features such as lane departure warning systems, blind spot detection, and
collision avoidance systems to encourage their adoption among commercial as
well as individual vehicle owners and drivers. These industry participants are
manufacturing sophisticated dashboard cameras with built-in sensors that offer
forward collision warnings to the driver, ultimately providing greater
protection against potential accidents.
In
depth research report on Dashboard Camera Market
Further key findings from the report suggest:
·
North America and Europe are characterized by rapid adoption
of full HD dashboard cameras, which are fast replacing SD dashboard cameras
·
2-channel dashboard cameras are increasingly preferred by
commercial fleet operators to seek additional protection against cases of
employee fraud and in the event of an accident
·
In 2017, the Europe market accounted for the largest share,
both in terms of revenue and shipments
·
Asia Pacific and Middle East are expected to witness
substantial growth over the forecast period owing to rise in sale of passenger
vehicles
·
Concentrated presence of dash cam manufacturers and their
superior production capabilities and abundant availability of cheap labor in
Asian countries such as Taiwan and China are expected to drive the APAC market.
Grand View Research
has segmented the global dashboard camera market by technology, product, video
quality, and region:
Dashboard Camera Technology Outlook (Volume, Thousand Units;
Revenue, USD Million, 2014 - 2025)
·
Basic
·
Advanced
·
Smart
Dashboard Camera Product Outlook (Volume, Thousand Units;
Revenue, USD Million, 2014 - 2025)
·
1-Channel
·
2-Channel
Dashboard Camera Video Quality Outlook (Volume, Thousand
Units; Revenue, USD Million, 2014 - 2025)
·
SD & HD
·
Full HD & 4K
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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