Dashboard Camera Market Size, Share & Trends Report

Dashboard Camera Market Size, Share & Trends Analysis Report By Technology (Basic, Advanced, Smart), By Product, By Video Quality, By Application, By Distribution Channel, By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Jun, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-771-1
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 196

Report Overview

The global dashboard camera market size was valued at USD 3.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.9%, in terms of revenue, from 2021 to 2028. In terms of volume, the demand was estimated at 41.4 million units in 2020. The rising awareness regarding in-car safety and favorable government initiatives are expected to propel market growth. The increasing popularity and success of dashboard cameras in countries such as Russia, France, and Canada are expected to drive market growth over the next seven years. The rising number of car thefts and road accidents across the globe has been significantly driving the product demand over the past few years. Dashboard cameras also assist in preventing insurance fraud, which includes deliberately caused accidents and false insurance claims.

North America dashboard camera market demand, by technology, 2016 - 2028 (Million Units)

Additionally, regulatory reforms for mandatory installation of dashcams in cars in several countries, such as the U.S., the Philippines, and Russia, have contributed to revenue generation. Favorable policies by insurance companies, which offer discounts to the cars equipped with these cameras, are also expected to further drive the growth of the industry. The views of end users and manufacturers about dashboard cameras are changing substantially. In addition to capturing audio and video recordings, some high-end dashboard cameras also provide features such as GPS and two-way recordings, which allow recording the driver as well. If the dashboard camera detects that the vehicle is swerved, the driver's action also gets recorded. This allows the insurance companies and investigation authorities to inspect the driver's behavior whether he was distracted by a device within a vehicle or reacted to the flow of traffic. The use of dashboards is not mandatory in most of the countries currently; however, continued benefits for the driver and a reduction in reckless and distracted driving are expected to make dashboards a mandatory addition to the fleet.

The outbreak of COVID-19 has impelled numerous government bodies to impose a strict lockdown across several countries. With permission for operating only essential retail chains, maximum automotive accessory outlet stores had come to a halt for a significant duration. As a result, the supply chain of the market was adversely affected by the high volume of products remaining at the retail stores. The consumer purchasing trends have also witnessed a drastic shift with a massive dip in the budget allocation for car accessories over the past few quarters. This uncertainty in the sales pattern has created a considerable gap in demand and supply with several dashboard camera manufacturers halting their production temporarily to match their supply volume. Besides, the sales of new vehicles reduced in 2020, which directly impacted the purchase of new dashboard cameras.

With gradual ease in restrictions, the manufacturers have started adopting various strategies to overcome the reduction in sales. Adopting automation workflow in their manufacturing units and minimizing the expenditure for R&D activities are some of the crucial steps undertaken to invigorate their presence. As per our recent findings, the dashcam manufacturers are exploring alternatives to fill their existing supply-demand gap and focusing on localizing their products. This is set to improve their presence in the local market and expand their penetration and customer base. Moreover, manufacturers are also considering mergers and acquisitions to reduce the negative impact on the supply chain in the near future.

Technology Insights

Based on technology, the dashboard camera market is segmented into basic, advanced, and smart. The basic dashboard camera segment witnessed the highest demand in 2020, accounting for over 69.0% of the market share. Easy installation and low cost of these devices are anticipated to boost the growth of this segment. The demand for basic dashboard cameras is expected to reach over 81.0 million units by 2028.

The smart dashboard camera segment is expected to register the highest CAGR of almost 16.0%, in terms of revenue, from 2021 to 2028. The increasing demand for advanced driver assistance functionalities, including blind-spot detection, lane departure warning systems, and collision avoidance systems, is expected to create significant opportunities for segment growth over the forecast period. Some of the leading market players are involved in the development and commercialization of feature-rich dashboard cameras. The prime feature offered by these dashcams is the capability to be paired with several complementary technologies such as vehicle data monitoring and telematics.

Product Insights

Based on product type, the market is segmented into 1-channel, 2-channel, and rearview. The 1-channel segment dominated the market in 2020 and accounted for a revenue share of over 73.0%. It is expected to continue to dominate the market over the forecast period. The 1-channel dashboard cameras, commonly known as single channel, are mounted on the vehicle’s dashboard or windshield to display and record the road ahead of the vehicle. This product type only records the view in front of the dashcam. There has been a significant decrease in the average selling price of the product type, which is predicted to boost the segment growth in the forthcoming years.

The rear-view segment is expected to register the highest CAGR of almost 17.0%, in terms of volume, from 2021 to 2028. The demand for these dashboard cameras is anticipated to reach more than 20.0 million units by 2028. These dashcams enable maneuvering of the vehicle during low speed, primarily during parking or slow curb side driving. Leading vendors in the marketplace are introducing advanced rear-view dashcams featuring a real-time reverse view with parking assist lines.

Video Quality Insights

Based on video quality, the market is segmented into SD and HD and full HD and 4K. The SD and HD segment dominated the market in 2020 and accounted for a revenue share of over 61.0%. The segment is poised to continue leading the market over the forecast period. These cameras record low-resolution videos, enabling the device to record long-duration videos in limited memory capacity. The market demand for SD & HD dashboard cameras is estimated to reach over 83.0 million units by 2028.

The full HD and 4K segment is anticipated to register the highest CAGR of more than to 15.5%, in terms of volume, over the forecast period. Full HD & 4K dashboard cameras feature the capability of recording video footage at a substantially high quality, which could be regarded as admissible evidence by police, legal authorities, and insurance companies. Additionally, there is a significant upsurge in the number of motorists, both commercial fleet operators and individuals, deploying full HD and higher video quality cameras with low-resolution DVRs, ultimately boosting the growth of the segment.

Application Insights

Based on application, the market is segmented into commercial vehicles and personal vehicles. The personal vehicle segment accounted for the largest revenue share of more than 65.0% in 2020 and is expected to register the highest CAGR from 2021 to 2028. There is a significant demand for dashboard cameras in personal vehicles owing to the growing awareness of the benefits of dashcams and the presence of standard laws and regulations regarding road safety across the globe. Additionally, leading vendors in the market are incorporating dashcams with numerous driver assistance features, which is anticipated to boost the growth of the segment.

The commercial vehicle segment is anticipated to register a considerable CAGR of more than 12.0%, in terms of revenue, from 2021 to 2028. The demand for dashboard cameras across commercial vehicles is anticipated to increase as recordings from these devices are critical in monitoring driver behavior, reducing accidents, and reducing fake accident claims. Moreover, the implementation of 2-channel dashboard cameras in such vehicles is expected to help fleet managers view the whole picture. The global demand for dashcams in commercial vehicles is expected to reach over 35.0 million units by 2028.

Distribution Channel Insights

Based on distribution channels, the dashcams market is divided into online and in-store. The in-store segment accounted for the largest revenue share of more than 62.0% in 2020 and is expected to continue to dominate the market over the forecast period. A retail store provides customers with a demonstration of the device, enabling them to try and test before making the purchase. Additionally, customers can instantly own the device as compared to the online purchasing option, which typically takes few days to be delivered.

Global dashboard camera market share, by distribution channel, 2020 (%)

The online segment is expected to register the highest CAGR of 14.0%, in terms of revenue, from 2021 to 2028. The factors driving the purchase of dashboard cameras via online platforms include discounted prices and comparison options for dashcams with similar features. However, the online delivery of dashboard cameras requires a longer duration than direct purchases at physical stores. Additionally, the online buying option may require payment of a delivery fee, in addition to the original product price.

Regional Insights

Europe accounted for the highest market share of more than 33.0% in terms of revenue in 2020. Although the region accounts for a significant amount of the overall demand for dashcams, many countries in the region have placed an outright ban on these devices. In countries such as Russia, most people deploy dashboard cameras in their personal vehicles due to high rates of accidents, significant police corruption, unsafe road conditions, and low cost and easy availability of technology. On the contrary, in countries such as Austria, Luxembourg, and Portugal, the use of recording devices or dashboard cameras is completely illegal and violators may have to pay a heavy penalty for non-compliance with these laws.

Asia Pacific is expected to register the fastest growth in terms of volume, registering a CAGR of over 17.0% from 2021 to 2028. The demand for dashboard cameras in the region is anticipated to increase over the forecast period owing to favorable government initiatives, consumer-centric marketing strategies, and the rising number of on-road vehicles. Many government agencies and individual drivers have now started to recognize the benefits of dashboard cameras. Dashboard cameras are anticipated to gain increasing prominence in the region over the forecast period as they act as invaluable evidence, which can safeguard the user financially as well as legally.

Key Companies & Market Share Insights

A majority of established dashboard camera vendors are based in the Asia Pacific region and very few of them are based in North America and Europe. The market in the Asia Pacific region is saturated, whereas North America offers a high scope for expansion if proper awareness is created through organized marketing campaigns. The presence of local suppliers across the globe is affecting the profitability of the prominent market players, which is expected to increase the competitive rivalry among the market players. Some of the prominent players operating in the global dashboard camera market include:

  • ABEO Technology

  • Garmin Ltd.

  • Pittasoft Co. Ltd.

  • Falcon Zero LLC

  • Panasonic Corporation

  • Cobra Electronics Co

  • DOD TechDJI

Dashboard Camera Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 3.61 billion

Revenue forecast in 2028

USD 8.47 billion

Growth rate

CAGR of 12.9% from 2021 to 2028 (Revenue-based)

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million, volume in thousand units, and CAGR from 2021 to 2028

Report coverage

Revenue and volume forecasts, company ranking, competitive landscape, growth factors, and trends

Segments covered

Technology, product, video quality, application, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; Germany; Italy; U.K.; France; Spain; China; Japan; India; Malaysia; Taiwan; Singapore; Brazil; Mexico

Key companies profiled

ABEO Technology; Garmin Ltd.; Pittasoft Co. Ltd.; Falcon Zero LLC; Panasonic Corporation; Cobra Electronics Co; DOD TechDJI

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope.

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Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For this study, Grand View Research has segmented the global dashboard camera market report based on technology, product, video quality, application, distribution channel, and region:

  • Technology Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • Basic

    • Advanced

    • Smart

  • Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • 1-Channel

    • 2-Channel

    • Rear View (Front & Rear View)

  • Video Quality Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • SD & HD

    • Full HD & 4K

  • Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • Commercial Vehicle

    • Personal Vehicle

  • Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • Online

    • In-store

  • Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • Italy

      • U.K.

      • France

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Malaysia

      • Taiwan

      • Singapore

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

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