Dash Cam Market Size (USD 16.6 Billion by 2032) with 14.7% CAGR | Market.us
Updated · May 03, 2023
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Published Via 11Press: Dash cam market, or dashboard cameras, are small devices that attach to the windshield of a vehicle and record video footage while driving. They can be used to capture evidence in case of an accident or insurance fraud, document road trips, and even provide additional security for parked cars. Dash cams usually have a loop recording feature that overwrites older recordings with new ones once the memory card is full. However, some models also come with motion detection sensors that activate the camera when there is movement around the car.
The Global Dash Cam industry size is expected to be worth around USD 4.2 Billion by 2022 from USD 16.6 Billion in 2032, growing at a CAGR of 14.7% during the forecast period from 2022 to 2032.
The dashcam market has grown significantly in recent years due to increasing demand for safety features and advanced technology in vehicles. The market includes various types of dash cams such as front-facing, rear-facing, dual-channel (front and rear), and mirror-mounted cameras. Some models even have built-in GPS trackers or Wi-Fi connectivity for remote access to footage. With so many options available on the market today, it’s important to research which type of dash cam best fits your needs before making a purchase.
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- North America: The North American dash cam market is expected to grow significantly due to the increasing demand for road safety measures, government regulations mandating the installation of dash cams in commercial vehicles, and the rising adoption of advanced driver assistance systems (ADAS) in passenger cars. The United States and Canada are the major contributors to the growth of the dashcam market in North America.
- Europe: The European dash cam market is expected to witness substantial growth due to the increasing adoption of ADAS in passenger cars, government regulations mandating the installation of dash cams in commercial vehicles, and the rising number of road accidents. The United Kingdom, Germany, and France are the major contributors to the growth of the dashcam market in Europe.
- Asia Pacific: The Asia Pacific dash cam market is expected to witness significant growth due to the rising number of road accidents, the increasing adoption of ADAS in passenger cars, and the growing popularity of ride-sharing services. China, India, and Japan are the major contributors to the growth of the dashcam market in the Asia Pacific.
- Latin America: The Latin American dash cam market is expected to witness moderate growth due to the increasing awareness about road safety measures and the rising adoption of advanced technologies in passenger cars. Brazil and Mexico are the major contributors to the growth of the dashcam market in Latin America.
- Middle East and Africa: The Middle East and Africa dash cam market is expected to witness moderate growth due to the rising demand for road safety measures and the increasing adoption of advanced technologies in commercial and passenger vehicles. The United Arab Emirates, Saudi Arabia, and South Africa are the major contributors to the growth of the dashcam market in the Middle East and Africa.
- Increased Demand for Road Safety Measures: Dashcam market growth can be directly tied to increasing road safety measures demand. They offer valuable evidence in case of accidents, prevent insurance fraud and monitor driver behavior that improves overall road safety.
- Government Regulations Mandating Dash Cam Installation: Global governments have passed regulations mandating dash cam installation for commercial vehicles as an effort to enhance road safety and decrease accidents.
- Rising Adoption of Advanced Driver Assistance Systems (ADAS): The increased adoption of Advanced Driver Assistance Systems (ADAS) is fuelling dash cam sales as they can integrate seamlessly with these advanced driving aids to provide additional safety features such as Lane Departure Warnings and Collision Avoidance systems.
- Rise in Ride-Sharing Services: Ride-sharing services have increased in popularity exponentially over recent years and this growth is fuelling demand for dash cams to provide evidence in case of accidents and disputes between passengers and drivers.
- High Cost (in emerging economies), this may prove an impediment to market growth as consumers may not want to commit a significant sum on one device.
- Limited Awareness: Lack of consumer understanding about the advantages offered by dash cams may impede market expansion in regions where their use isn’t mandated by law.
- Data Privacy Concerns: Dash cams raise some privacy issues as they record footage without the individual’s knowledge or consent – this may put consumers off purchasing dash cams due to fear over data protection concerns. This could limit market expansion.
- Technological Limits: Dash cams may have limited effectiveness when exposed to low light conditions, hindering their use in providing evidence in case of accidents.
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- Opportunities Adopting Advanced Technologies: As more consumers adopt cutting-edge technologies like artificial intelligence (AI) and machine learning (ML), dash cam manufacturers are seeing more opportunities arise to develop cutting-edge products with features like driver fatigue detection and automatic emergency braking capabilities.
- An Increase in Fleet Management Solutions: Fleet management solutions have seen unprecedented demand, creating opportunities for dash cam manufacturers to develop products specifically targeted towards commercial vehicles such as real-time monitoring and vehicle tracking solutions.
- Expansion into Emerging Markets: With emerging markets such as India, China and Brazil experiencing unprecedented economic growth, dash cam manufacturers can take advantage of expanding customer bases to gain market share globally and increase global customer bases.
- Integrating Dash Cams With Other Smart Devices: Integrating dash cameras with other smart devices, like smartphones or smartwatches, presents manufacturers with opportunities to develop innovative features and applications – including remote access and control of dash cams.
Competition from smartphone cameras: Smartphone cameras present dash cam manufacturers with an increasing competitive threat, as consumers opt to use these quality mobile camera solutions instead of investing in dedicated dash cams.
Data Privacy Concerns: Data privacy can present dashcam manufacturers and consumers alike with challenges; some consumers may hesitate to use dashcams out of fear over how personal data collected could be utilized and managed.
Legal and Regulatory Concerns: Manufacturers and consumers often encounter legal and regulatory hurdles that make using dashcam footage as evidence in court a challenging endeavor, given how rules and regulations vary across nations.
Technological Limitations: Technological constraints such as poor video footage in low light conditions or extreme weather may present dash cam market with challenges that threaten its viability in providing evidence in cases of accidents. Consumers could question its value.
Key Market Players
- First Scene
- Nextbase UK
- Cobra Electronics
- Fine Digital
- Advanced Wound Dressings
- Single Channel Dash Cams
- Multi-Channel Dash Cams
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Market Report Scope
|The market size value in 2022||USD 4.2 Bn|
|Revenue Forecast by 2032||USD 16.6 Bn|
|Growth Rate||CAGR Of 14.7%|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of the World|
|Short-Term Projection Year||2028|
|Long-Term Projected Year||2032|
Frequently Asked Questions
Q: What is the current size of the Dash Cam Market?
A: The Global Dash Cam Market size is USD 140.87 Billion in 2023.
Q: What is the projected growth rate for the Dash Cam Market?
A: The Dash Cam Market is expected to grow at a CAGR of 8.6% from 2023 to 2032.
Q: What are some of the key players in the Dash Cam Market?
A: Some of the key players in the cell Dash Cam market include Blackview, First Scene, Philips, Nextbase UK, PAPAGO, DOD, Garmin, SAST, REXing, Qrontech, DEC, Kehan, HUNYDON, JADO, Blackvue, iTRONICS, Fine Digital, DAZA, Cansonic, Cobra Electronics
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