Automotive dashboard camera market size to grow by USD 4518.77 million between 2022 and 2027; Growth driven by increasing safety concerns in the automotive ecosystem - Technavio

NEW YORK, March 13, 2023 /PRNewswire/ -- The global automotive dashboard camera market size is estimated to grow by USD 4518.77 million from 2022 to 2027, according to Technavio. The growth momentum will be accelerating at a CAGR of 23.65% during the forecast period. COVID-19 had the most negative impact on the global automotive industry in recent years, resulting in a steep fall in demand and a large-scale disruption of the supply chain. It has exerted intense pressure on an already-stressed global automotive market. As new countries bring manufacturing facilities and production back on track, the supply side is on a restoration line. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Key Growth Driver

The market is driven by increasing safety concerns in the automotive ecosystem. The focus on improving road safety has increased significantly over the last decade. With consumers becoming more aware of safety features, automobile manufacturers are introducing advanced security and safety features even in entry-level vehicles. This is increasing the penetration of active and passive safety systems such as airbags, seatbelts, emergency braking systems, and dashboard cameras in vehicles. All these factors are driving the growth of the market in focus.

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Global Automotive Dashboard Camera Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on application (passenger cars and commercial vehicles), product (single channel and dual channel), and geography (Europe, North America, APAC, South America, and Middle East and Africa). 

• By application, the market growth in the passenger cars segment will be significant during the forecast period. The growth of the segment is driven by various factors, including the increasing incidence of road rage, which demands visual evidence. Another factor driving the growth of the segment is the rising focus by insurance firms on the adoption of dashboard cameras to prevent insurance fraud.

Geography Overview
By geography, the global automotive dashboard camera market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automotive dashboard camera market.

• Europe will account for 38% of the market growth during the forecast period. Many insurance providers operating in the region offer discounts on their insurance premiums for vehicles installed with dashboard cameras. This is one of the key factors driving the growth of the automotive dashboard camera market in Europe.

Insights on the market contribution of various segments including country and region wise, historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Global Automotive Dashboard Camera Market – Market Dynamics

Major trend influencing growth

• The development of in-built dashboard cameras by OEMs is a major trend in the market.
• The rising popularity of dashboard cameras has encouraged automakers to offer dashboard cameras as a built-in feature.
• For instance, General Motors subsidiary, Cadillac, offers an in-built dual-channel dashboard camera in its CT6 model. This camera can record video and store it on an SD card.
• Similarly, after a recent update, Tesla's Model X, Model 3, and Model S' blind spot detection cameras have started acting as dashboard cameras by recording video.
• This trend is gaining prominence in the automotive industry and is expected to have a positive impact on market growth during the forecast period.

Major challenges affecting growth

• Technological advances in automobile safety features are challenging the growth of the market.
• The rising adoption of advanced safety features in automobiles is reducing the number of accidents and fatalities.
• The incorporation of ADAS, DSMS, AEBS, and blind spot detection systems has decreased the demand for dashboard cameras as a safety feature in vehicles.
• Automakers are working toward the incorporation of safety features that alert vehicle owners in case of unauthorized movement in a parked vehicle. Such features are reducing the need for dashboard cameras.

Insights on Market Drivers, Trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this automotive dashboard camera market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the automotive dashboard camera market between 2023 and 2027
• Precise estimation of the size of the automotive dashboard camera market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the automotive dashboard camera market industry across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of automotive dashboard camera market vendors

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio