The global car DVR market size is expected to reach USD 1.84 billion by 2022 according to a new report by Grand View Research, Inc.
Technological advancements and growing awareness pertaining to in-car safety are expected to boost global car DVR market growth. Increasing demand for such dash cams in commercial and passenger vehicles has further bolstered industry growth.
Car DVRs are compact cameras attached to the windshield or the dashboard that record video in a digital format to a storage device. Rising number of road mishaps across the globe is expected to have a positive impact on growth of car DVR market. These devices help in collecting legitimate evidences against offender and can be produced in courts in matters of disputes.
Increasing car thefts and acts of vandalism are further expected to impel industry growth, as these dash cams can provide surveillance in the parking mode of operation, even in the absence of driver.
However, invasion of privacy, particularly in the U.S. and European countries, is expected to pose as a challenge for the industry. Hackers can compromise security of these systems by accessing wireless data exchanges among vehicles.
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Further key findings from the study suggest:
Single-channel DVR segment dominated the global in-vehicle dash cam industry contributing to over 70% of the market revenue in 2014. Dual-channel dash cams comprise two cameras, one for front view and other for rear view video recording, providing a high-resolution video feed. Dual-channel systems are more expensive than single-channel systems; however, they are expected to be a considerable revenue generation medium for DVR manufacturers.
Vendors are offering various types of dash cams, ranging from basic single-channel video cameras to the ones that record parameters such as date/time, speed, G-forces, and location. Advanced dash cams with features such as smartphone connectivity, HD LCD screens, integrated GPS, expandable storage, and night vision are increasingly being launched in the market. Moreover, the system monitors trigger events such as excessive speed, sudden movements such as collisions or hard braking, and vandalism, and notifies users with alerts and image playback on its proprietary smartphone application.
North America dominated the global car DVR industry contributing to over 35% of the global revenue in 2014. Extensive use of advanced dash cams in police and patrol vehicles is expected to ensure a steady growth in this region. Initiatives by the government and authorities have led to an overall increase in the use of dash cam systems in the U.S.
Asia Pacific regional market is expected to grow at a CAGR of 9% over the forecast period. Major manufacturers in the industry are based in countries from the Asia Pacific region, such as Taiwan and China, owing to cheap labor and higher production capacities. This has led to an increased awareness and adoption of such in-vehicle cameras in the region.
Key industry participants include Amcrest Technologies, Cobra Electronics Corporation, Falcon Zero, Fine Digital Inc., Honeywell, Lukas, ITronics Group, Vicovation, and WatchGuard Video. Vendors are increasingly adopting innovative distribution strategies such as authorized e-commerce retailers apart from traditional retail stores and automotive spare parts stores.
Grand View Research has segmented the global car DVR market on the basis of product and region:
Car DVR Product Outlook (Revenue, USD Million, 2012 - 2022)
Car DVR Regional Outlook (Revenue, USD Million, 2012 - 2022)
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