Global Dashboard Camera Market Poised for Remarkable Growth

The global dashboard camera market is experiencing significant expansion, driven by increasing awareness of road safety, technological advancements, and rising adoption among vehicle owners. According to Maximize Market Research, the market was valued at USD 409.82 million in 2023 and is projected to reach nearly USD 1,952 million by 2030, exhibiting a robust compound annual growth rate (CAGR) of 24.98% during the forecast period.

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Competitive Landscape

The dashboard camera market features a diverse array of key players striving to enhance their market presence through innovation and strategic partnerships. Notable companies include Garmin Ltd., Panasonic Corporation, Pittasoft Co. Ltd., DigiLife Technologies Co., Ltd., and Cobra Electronics Corp. These industry leaders are focusing on integrating advanced technologies such as artificial intelligence (AI) and machine learning (ML) to offer features like lane departure warnings, collision detection, and driver behavior monitoring. ​

Regional Insights

Asia Pacific:

The Asia Pacific region is anticipated to witness the highest growth rate, with a projected CAGR of over 12.0% from 2024 to 2030. This surge is attributed to increasing vehicle sales in countries like China, South Korea, and India, coupled with heightened awareness of road safety and insurance fraud prevention. In China, the demand for dashcams is driven by a growing number of traffic accidents and road violations, along with high product adoption by commercial fleets, including taxi services and trucking companies.

Europe:

Europe held the largest market share of 45% in 2023, primarily due to insurance companies accepting dashcam footage as evidence in claims processing. The region's stringent road safety regulations and increasing consumer awareness have further propelled market growth. ​

North America:

The United States dashboard camera market generated revenue of USD 673.2 million in 2023 and is expected to reach USD 1,102.8 million by 2030, growing at a CAGR of 7.3% from 2024 to 2030. The presence of key market players such as Garmin Ltd., Pittasoft Co. Ltd., and DigiLife Technologies Co., Ltd. contributes significantly to this growth. ​

Middle East and Africa:

The Middle East and Africa dashboard camera market is anticipated to reach USD 4.73 billion by 2030. The rising number of commercial vehicles, such as taxis and trucks, is boosting the demand for dashcams in the region to ensure passenger safety and monitor driver behavior. ​

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Mergers, Acquisitions, and Key Developments

United States:

In 2019, JMC Capital Partners, a Boston-based private equity firm, acquired Pro-Vision, a company specializing in video recording systems for vehicles. This acquisition was followed by Pro-Vision's purchase of Zone Defense, a manufacturer of advanced video systems for automotive and fleet industries, in September 2020. ​

Asia Pacific:

In January 2021, Panasonic Automotive Systems, a subsidiary of Panasonic Corporation, launched a fully wireless Wi-Fi camera, offering convenience, durability, and increased ease for recreational hauling. This innovation combines high-resolution video capabilities with ruggedness and connectivity, catering to the growing demand in the region. ​

Europe:

The European market has seen significant activity, with companies like Garmin Ltd., Koninklijke Philips N.V., and JVCKENWOOD Corporation investing in advancements in car security dashcams and vehicle dash camera systems. These efforts are aimed at enhancing product portfolios and expanding consumer bases. ​

Middle East and Africa:

The region is witnessing a surge in demand for dashboard cameras, driven by the increasing number of commercial vehicles and a focus on passenger safety. Companies are exploring opportunities to introduce advanced dashcam technologies tailored to the unique needs of this market.

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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

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