Dashboard Camera Market Size is Estimated to Value $8.47 Billion By 2028
The global Dashboard Camera Market demand is anticipated to reach 121.4 million units by 2028, registering a CAGR of 14.4% in terms of volume, from 2021 to 2028, according to a new report by Grand View Research, Inc. The number of road traffic accidents and theft incidents is continuously increasing across the globe, thereby resulting in the popularity of dashboard cameras. Dashcam footage provides an appropriate understanding regarding the accountability of a crash when the car is involved in an accident or a high-stress event. This can also lower the insurance costs and speed up the insurance claims.
Dashboard cameras are increasingly gaining prominence in commercial fleets after their usage in police vehicles was popularized. Leading companies in the marketplace are considering numerous benefits offered by dashboard cameras and promoting their installation. These cameras can help control the rising insurance costs by offering valuable information in case of hit-and-run cases, accidents, traffic violations, and insurance frauds. With easily installable features and improved technology, it is now possible for commercial fleet companies to safeguard their vehicles.
The market for dashboard cameras has attained immense momentum owing to the growing automotive sector. The key market players are now focusing on enhancing the user-friendliness and convenience of dashboard cameras by incorporating additional features such as expandable storage capacity, high-endurance battery life, and inclusion of night vision cameras in their product offerings. Commercial users of dashcams, such as taxi operators and trucking companies, prefer 2-channel (dual channel) variants as single-channel cannot be upgraded by adding a secondary unit to capture footage inside the vehicle.
Related Press Release@ Dashboard Camera Market Report
Dashboard Camera Market Report Highlights
- The industry is witnessing the rising adoption of multi-channel dashboard cameras owing to high-quality video recording in multiple directions. The dashcams with built-in rechargeable batteries are also gaining prominence
- The key companies are developing Wi-Fi-enabled dashboard cameras wherein the users can transfer videos to their smartphones using the free Drive HD app for iOS and Android devices
- The governments in some countries such as Belgium, Switzerland, Norway, and Germany are imposing stringent regulations on the usage of dashcams
- The customers are increasingly demanding superior dashboard cameras with enhanced features and functionalities, including Lane Keeping Assistance (LKA) and Advanced Driver Assistance Systems (ADAS), elevating the industry growth