Dashboard Camera Market Size, Share & Trends Analysis Report By Technology (Basic, Smart), By Product (1-, 2-Channel), By Application, By Video Quality, By Distribution Channel, And Segment Forecasts, 2022 - 2030

Report Overview

The global dashboard camera market size was valued at USD 3.38 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030. The industry growth is attributed to the rising awareness about vehicular safety, quicker insurance claims, and protection against rising vehicle thefts. Dashboard cameras have personal and commercial uses and are also deployed for use by the police force. A crucial factor driving product demand is a rise in the number of fraudulent insurance claims and medical compensation by means of fake car accidents. It has also been observed that insurance companies are encouraging the use of dashboard cameras in vehicles to resolve insurance claims more accurately and quickly.

During the COVID-19 pandemic, almost every industry was temporarily affected or shut down. In multiple countries, nationwide lockdowns were imposed, which strictly restricted the movement of individuals outside their homes. This tremendously drove down the demand for dashboard cameras as people were forced to stay indoors. The majority of automotive accessory outlet stores had been put on indefinite hold with permission to operate only core retail chains. As a result, the supply chain for the industry was negatively impacted. The manufacturers have begun implementing various strategies to combat the hit to their sales.

The adoption of automation workflow in their manufacturing facilities and a reduction in the cost of R&D activities are seen as crucial actions they have undertaken to strengthen their industry position. Dashboard cameras are prominently used in personal vehicles by customers for their daily commutes. However, product adoption in commercial vehicles for monitoring and safety purposes has strongly increased the market growth. It has also pushed the technological development of dashboard cameras as higher resolution and feature-rich hardware is required for scalable implementation. The camera footage obtained from dashboard cameras is now being accepted for proving liability and insurance claims.

Insurance companies are promoting the adoption of dashboard cameras by providing discounts on insurance premiums with the aim to fight against false insurance claims. In addition, personal vehicle users are at the forefront of the industry as most dash cams are budget-friendly and easy to install. Due to the implementation and widespread standardization of digital services, high-definition dash cam recording has become standardized. However, standard definition dash cams are also available, which drive the budget-friendly segment as these dash cams are cheaper to manufacture and sell. Due to technological developments, the entry-level of the market has lowered and become more standardized globally.

Currently, multiple-channel dash cams are in demand for detailed and live monitoring, as the hardware provides front- & rear-view recording and also in-cabin recording for select models. Furthermore, the industry is expanding in developing nations like India and Brazil. As developing countries are experiencing a tremendous increase in vehicular traffic and relevant accidents & scams, manufacturers are seeing this as an opportunity. The increasing demand for protection against car theft is expected to drive the demand for 2-channel dashboard cameras. As a result, individuals and commercial fleet operators are replacing their low-resolution DVRs with full HD or higher-resolution cameras, thereby driving the demand for higher resolution dash cams.

Technology Insights

On the basis of technologies, the global industry has been further categorized into basic, advanced, and smart. The basic technology segment accounted for the largest revenue share of over 60% in 2021 and is likely to continue to dominate the industry over the forecast period. The entry-level has been significantly lowered by manufacturers offering dash cams, which come with basic features and technology. These dash cams are inexpensive and can be installed within minutes. Most customers are satisfied with basic features. Basic technology dash cams are more popular in developing regions due to their easy process and low cost of production.

The smart technology segment is projected to register the fastest CAGR from 2022 to 2030. However, the industry players are constantly offering extra features at lower prices, which has driven the demand for advanced and smart technology dash cams. Enthusiasts or commercial vehicle owners prefer these dash cams as it makes monitoring and logistics easier and more centralized. The smart technology and features help reduce the level of manual input required and enable smarter connectivity with other devices.

Product Insights

On the basis of products, the global industry has been further categorized into 1-channel, 2-channel, and rear view. the 1-channel product segment dominated the global industry in 2021 and accounted for the largest share of more than 72.5% of the overall revenue. It is estimated to lead the market over the forecast period. The boom of affordable 1-channel dash cams has caused significant growth in the market. 1-channel dash cams can usually record the front view, have short battery life and have short storage capabilities. 1-channel dash cams are the most basic, entry-level products available in the market.

This product type has high popularity and sales in developing regions. The rear-view product segment is expected to register the fastest growth rate during the forecast years. The segment recorded a notable industry revenue in 2021. A significant increase in this product segment is expected as customers are beginning to prefer dash cams, which can also record the rearview. On account of the increasing cases of road accidents or collisions from the rear side, the demand for this product type is growing. Dash cams with multiple channel support offer front- and rear-view recording, which is more appealing to customers at a feature and uses case level.

Video Quality Insights

The SD & HD video quality segment accounted for the largest share of more than 60.00% of the overall revenue in 2021. The segment is predicted to lead the market throughout the forecast period. In this segment, the high-definition is not full HD, which helps reduce storage requirements. Video quality is one of the most important segments in a dash cam as it can prove vital when the need to review the footage arises. Customers using dash cams in their vehicles prefer SD & HD video quality devices as they are affordable and can record general instances, such as number plates during accidents for insurance purposes.

The lower video quality dash cams lack clarity while recording at night time. On the other hand, the full HD & 4K segment is expected to witness the fastest growth rate during the forecast period. Full HD & 4K video quality allows dash cams to record with high-quality resolution, which can be crucial in commercial vehicle monitoring and safety. The full HD and 4k video quality require significant storage and longer transfer times. Devices with this video quality are more popular among driving enthusiasts and commercial vehicle operators, as the higher video quality helps identify faces during theft or to settle large insurance claims with proof.

Distribution Channel Insights

On the basis of distribution channels, the global industry has been further categorized into online and in-store. The in-store distribution channel segment registered the largest revenue share of more than 60.00% in 2021. The segment is estimated to remain dominant throughout the forecast period due to the shopping convenience offered by these stores as customers get an in-person demo and can check the product for any manufacturing defects before purchasing. In addition, an in-store distribution channel has been the traditional way to distribute dash cams.

As the dashboard camera is a car accessory, it is also available in-store at car dealerships, car workshops, and more, which makes the distribution widely accessible to customers across various regions. The online distribution channel segment, on the other hand, is predicted to register the fastest growth rate during the forecast period. The e-commerce industry now sells almost all products and services and offers customers convenience, doorstep delivery, and extra discounts. The online distribution channel segment is pivotal for manufacturers to reach a wider audience at minimal costs. Online distribution of dashboard cameras is done via e-commerce websites or through the manufacturer’s website.

Application Insights

On the basis of applications, the global industry has been further categorized into personal vehicles and commercial vehicles. The personal vehicle application segment dominated the global industry and accounted for the largest share of more than 65.00% of the overall revenue in 2021. Dashboard cameras are typically easy to install and use, hence, customers can easily purchase the product in-store or online without having to do much research about the features. As personal vehicles have become more common and affordable, dash cams manufacturers have found a lucrative growth opportunity.

In most countries, it is mandatory to have insurance to drive a personal vehicle, thus, to have video proof for insurance claims, customers prefer dash cams for their private vehicles. The commercial vehicle application segment is estimated to register the fastest CAGR over the forecast period. Commercial vehicles, such as taxi fleets, transportation trucks, and delivery trucks, install dash cams for tracking, monitoring, and safety purposes. Commercial vehicle fleets are large in number and owners purchase dash cams for a large portion or the entire fleet to enable fleet-wide monitoring. It also gives operators a safety net for legal purposes and insurance claims by saving video recordings on device or on the cloud.

Regional Insights

Europe accounted for the largest market share of 34.1% in 2021 as a result of the rising trend of dashboard cameras for insurance proof purposes and increasing consumer demand. In developing European countries, such as Russia, many people install dash cams in their vehicles due to high accident rates and unsafe road conditions. Most European countries have specific laws regarding dash cams wherein they should not interfere while driving or be used as a mode for leaking personal vehicular information. Moreover, it has been observed that European customers were quicker to adopt dash cams than other regions. The North America region also accounted for a considerable revenue share in 2021. The region is anticipated to expand further at a steady CAGR over the forecast period.

Recently, there has been a significant increase in vehicular traffic in North America, which has brought up awareness of vehicle safety. Many people in North America use dash cams as a preventive measure against rash drivers or to speed up an insurance claim with the help of video proof. While recording video is completely legal in the U.S., recording audio is not always permitted in the country. Asia Pacific is projected to register the highest CAGR from 2022 to 2030 owing to encouragement and benefits for foreign businesses to enter the market in the region. A rise in vehicle sales and traffic also contributes to the region’s growth. Dash cams are popular in this region as cities here are heavily congested, which increases the chances of vehicular accidents.

Key Companies & Market Share Insights

The industry has a few key players, which often have subsidiaries in the same industry. The total amount of small-level players in the market is high as the industry has a low entry-level barrier. As technology develops, it decreases the entry-level and brings about more start-up companies. The North America and Europe regions are dominated by large- and medium-level companies. The competition in this industry is high and the availability of noteworthy substitutes is limited. Development in technology is allowing companies to produce dashcams at competitively low prices every generation.

It has also been observed that key players are acquiring budding small companies to incorporate their new technologies and ideas. As a result of globalization, the dashcam trend is present in many global markets over multiple locations. Seeing the growing potential and real-life use cases, even governments and regulatory authorities are encouraging product usage.

Some of the major players in the global dashboard camera market include:

• Garmin, Ltd.

• DigiLife Technologies Co., Ltd (Affirmed by HP, Inc.)

• Cobra Electronics Corp.

• Pittasoft Co., Ltd.

• Panasonic Corp.

Recent Development

• In January 2023, Garmin unveiled the innovative Garmin Dash Cam™ Live - an always-connected LTE dash cam, granting drivers continuous access to a live exterior view of their vehicle. As the industry's pioneer LTE-connected dash cam, this cutting-edge solution ensures uninterrupted vehicle camera access, eliminating Wi-Fi constraints, and providing an invaluable 24/7 eyewitness service for unmatched peace of mind and situational awareness

Dashboard Camera Market Report Scope

Global Dashboard Camera Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of 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, 2018 - 2030)

  • Basic

  • Advanced

  • Smart

• Product Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • 1-channel

  • 2-channel

  • Rear View

• Video Quality Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • SD & HD

  • Full HD & 4K

• Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Commercial Vehicle

  • Personal Vehicle

• Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • Online

  • In-store

• Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • Italy

    • U.K.

    • France

    • Spain

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Malaysia

    • Taiwan

    • Singapore

    • Rest of Asia

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa