Automotive Dashboard Camera Market size is set to grow by USD 9.86 billion from 2024-2028, Increasing adoption of multi-channel dashboard cameras to boost the market growth, Technavio

NEW YORK, June 25, 2024 /PRNewswire/ -- The global automotive dashboard camera market  size is estimated to grow by USD 9.86 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  34.28%  during the forecast period.  Increasing adoption of multi-channel dashboard cameras is driving market growth, with a trend towards increasing popularity of connected technologies in dashboard cameras. However, inconsistent quality of automotive dashboard cameras  poses a challenge. Key market players include 70mai Co. Ltd., ABEO Technology Co. Ltd., Anker Technology UK Ltd., Apeman International Co. Ltd., AUKEY Online, Cedar Electronics Corp., DOD Tech, Garmin Ltd., Harman International Industries Inc., HP Inc., JVCKENWOOD Corp., MiTAC Holdings Corp., Nexar Ltd., Nextbase, Panasonic Holdings Corp., PAPAGO Inc., Pittasoft Co. Ltd., Thinkware Corp., VANTRUE, and VIOFO Ltd..

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Key Market Trends Fueling Growth

The automotive dashboard camera market is experiencing growth due to the increasing adoption of connected technologies in the industry. Connected infotainment, telematics, V2X technologies, and remote diagnostics are driving this expansion. Companies like Harman International and Pittasoft are offering connected dashboard cameras with features such as remote surveillance, voice control, and contextual alerts. The remote viewing capability of these cameras enhances safety for parked vehicles. While the inclusion of connected technologies increases costs, it also leads to high-profit margins for vendors. Overall, the integration of connected technologies in dashboard cameras is expected to positively impact the market during the forecast period. 

The Automotive Dashboard Camera market is experiencing significant growth with the increasing demand for advanced safety features in vehicles. These cameras provide real-time footage during driving, enabling drivers to record incidents and improve road safety. The use of vehicle dashboard cameras is becoming a trend, with many manufacturers integrating them into their models. The technology offers various features such as motion detection, night vision, and video recording. Additionally, the adoption of cloud technology allows for remote access and storage of footage. The market for these devices is expanding, with companies focusing on developing compact, high-quality cameras for consumer use. The future of automotive dashboard cameras looks promising, with advancements in technology set to enhance their functionality and convenience. 

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Market Challenges

• The automotive dashboard camera market offers various types of cameras, including single-channel and multi-channel options. Multi-channel cameras, such as dual-channel, dual-channel IR, and 3-channel models, have gained popularity due to their ability to record video from multiple directions. This trend is driven by the increasing use of dashboard camera footage as evidence in insurance claims and for vehicle safety. High-resolution recording is essential for clear footage, making multi-channel cameras the preferred choice. However, the vast price range and lack of regulations result in inconsistent camera quality, posing a challenge to market growth.
• The Automotive Dashboard Camera market faces several challenges. One key challenge is ensuring the fractional view of footage from multiple cameras in real-time. Another challenge is implementing advanced features like facial recognition and object detection. Additionally, ensuring data security and privacy is crucial in this market. Furthermore, integrating these cameras with other vehicle systems and ensuring compatibility with various vehicle models is a significant challenge. Lastly, keeping up with the latest technology trends and consumer demands while maintaining cost-effectiveness is a continuous challenge for market players.

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Segment Overview 

This automotive dashboard camera market report extensively covers market segmentation by

1. Application 
• 1.1 Passenger cars
• 1.2 Commercial vehicles
2. Product 
• 2.1 Single channel
• 2.2 Dual channel
3. Geography 
• 3.1 Europe
• 3.2 North America
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Passenger cars-  The automotive dashboard camera market is experiencing growth due to rising road traffic accidents and the need for visual evidence. Insurance firms in Europe and APAC are offering discounts on premiums for vehicles with professionally installed dashboard cameras. Ride-hailing and ride-sharing services also contribute to market growth. Dashboard cameras with GPS and G-force sensors are available for commercial use. Insurance firms in the US accept dashboard camera footage for claims. Fleet management companies use connected technologies for remote driver monitoring. These factors are driving the growth of the automotive dashboard camera market.

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Research Analysis

The Automotive Dashboard Camera Market has experienced significant growth due to the increasing number of vehicle thefts and fraudulent insurance claims. These devices, which include Car DVRs and blind spot detection systems, provide recorded footage as crucial evidence in cases of road mishaps and accidents. Vehicle manufacturers and insurance companies have recognized the value of these technologies in mitigating risks and reducing insurance costs. The regulation of the automotive sector by the Land Transportation Office has also contributed to the sales growth of these products. Real-time monitoring and location tracking through fleet management systems are additional benefits, making dashboard cameras an essential tool for car owners and fleet managers alike.

Market Research Overview

The Automotive Dashboard Camera market represents the latest technology integration in the automotive industry. These devices, also known as in-car cameras or dashcams, are gaining significant popularity due to their ability to record footage while driving. The market is driven by factors such as increasing road safety concerns, growing demand for advanced driver assistance systems (ADAS), and the rise of ride-hailing services. The market is segmented based on product type, technology, and application. The product type includes forward-facing, rear-facing, and 360-degree dashboard cameras. The technology includes wired and wireless dashboard cameras. The application includes personal use, commercial use, and OEM use. The market is expected to grow at a steady pace due to the increasing demand for enhanced safety features and the growing trend of digitization in the automotive industry.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Passenger Cars
• Commercial Vehicles
• Product
• Single Channel
• Dual Channel
• Geography
• Europe
• North America
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio