Global Dashboard Camera Market Set to Surge: Projected to Reach USD 1.95 Billion by 2030 with a CAGR of 24.98%
The global dashboard camera market is poised for significant growth, with projections indicating an increase from USD 409.82 million in 2023 to nearly USD 1.95 billion by 2030, reflecting a robust CAGR of 24.98% during the forecast period .
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Market Dynamics and Growth Drivers
The surge in demand for dashboard cameras is attributed to heightened awareness of road safety, the need for surveillance systems in vehicles, and advancements in camera technology. These devices, commonly known as dashcams, are increasingly being adopted for their ability to provide evidence in accidents, monitor driving behavior, and enhance vehicle security.
Competitive Landscape
Key players in the dashboard camera market include Garmin, BlackVue, Thinkware, Nextbase, and Rexing, among others. These companies are focusing on product innovation, incorporating features such as GPS tracking, voice control, and driver assistance systems to meet the evolving demands of consumers .
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Regional Insights
United States: Trends and Consolidation
In the United States, the dashboard camera market is experiencing growth due to increasing concerns over distracted driving and insurance fraud. Fleet owners and ride-sharing companies are adopting dashcams to monitor driver behavior and enhance safety. The U.S. market is projected to grow at a CAGR of 17.4% from 2024 to 2034 .
Asia Pacific: Opportunities and Growth
The Asia Pacific region is expected to witness the fastest growth in the dashboard camera market, with a CAGR exceeding 13% from 2024 to 2032 . Factors contributing to this growth include increasing vehicle sales, traffic congestion, and government initiatives promoting road safety. Countries like India and China are leading the adoption of dashcams in the region.
Europe: Market Trends and Updation
Europe held a significant share of the dashboard camera market in 2023, with a market value of approximately USD 1.5 billion . The region’s growth is driven by stringent regulations on road safety and the presence of leading dashcam manufacturers. Companies are focusing on integrating advanced technologies like AI and cloud connectivity to enhance product offerings.
Middle East and Africa: Growth and Opportunities
The Middle East and Africa region is emerging as a potential market for dashboard cameras, driven by increasing awareness of vehicle safety and security. The adoption of dashcams is gaining traction among commercial fleet operators and private vehicle owners. Companies are exploring opportunities to expand their presence in this region through strategic partnerships and product launches.
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♦ Market Segmentation: In-Depth Analysis:
By Technology
Basic
Advanced
Smart
With the largest dashboard camera market size in 2023, the Advanced category now commands a substantial amount of dominance based on technology. The growing demand for technologically advanced dash cameras, which is being driven by an emphasis on improving driver safety, is projected to keep this market at the top. With a predicted CAGR of 26.8% during the projection period, the Smart sector is anticipated to develop at the fastest rate. The requirement for monitoring in luxury car rentals and the growing demand for safety measures, especially in reaction to crimes like carjacking and theft, will drive this expansion.
By Product
1-Channel
2-Channel
By Video Quality
SD & HD
Full HD & 4K
By Distribution Channel
Online
In-Store
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♦ Market Key Players : In-Depth Analysis:
North America:
1. Garmin Ltd.
2. Amcrest Technologies, LLC
3. WatchGuard Technologies, Inc.
4. Waylens, Inc
5. HP Development Company LP
6. Hewlett-Packard Company
Europe:
1. Panasonic Corporation
2. Continental AG
3. Robert Bosch GmbH
4. Valeo
5. Ficosa International SA
Asia Pacific:
1. Qubo (Hero Electronix)
2. Pittasoft Co. Ltd.
3. Lukas Dashcam
4. Shenzhen Zhixingsheng Electronic Co., Ltd.
5. Nexar Inc.
Middle East Africa:
1. CNS Link Ltd.
2. DOD Technologies, Inc
3. TourMate
4. Satechi Baravon
5. Qrontech Co. Ltd.
South America:
1. ABEO Technology CO., Ltd
2. Cobra Electronics Corporation
3. Steelmate Automotive Ltd
4. Autoliv Inc.
5. Magna International Inc
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