The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, July 25, 2023 /PRNewswire/ — As per The Business Research Company’s Dashboard Camera Global Market Report 2023, the global dashboard camera market size will grow from $3.1 billion in 2022 to $3.7 billion in 2023 at a compound annual growth rate (CAGR) of more than 20%. The dashboard camera market size is then expected to grow to $7.6 billion in 2027 at a CAGR of more than 19%.
Rising awareness regarding in-car safety is expected to drive the growth of the dashboard camera market going forward. Fleet managers and drivers can use dash cams to spot poor driving habits and institute tailored training to enhance specific driving skills. Furthermore, dashcam models with a 360-degree view of the environment, allows them to capture anyone approaching the car from any angle. Even movement that occurs when the vehicle is not moving might be recorded and help identify a negligent or criminal event. Drivers are also increasingly aware of the safety issues associated with driving. For instance, according to the California Traffic Safety Survey 2022 among 2,768 drivers, a considerable rise of 7.7% from 2021, 43.3% of respondents said they “Always” or “Sometimes” use other transportation when drinking. Further, there has been a considerable increase of 22.2% in the percentage of respondents (73.9%) who think driving faster than the posted speed limit on residential streets is unsafe.
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The dashboard camera market overview highlights that companies operating in the dashboard camera market are focusing on developing new, innovative products to strengthen their position in the market. For instance, in March 2023, BlackVue, a South Korea-based dashcam manufacturer, launched the DR770X Box, a triple-camera cloud-compatible dashcam with a separate secure recording unit. The DR770X Box is the best dash cam option for drivers and fleet owners seeking the highest levels of security and stealth. Front, interior, and rear cameras on the DR770X Box are linked to the lock-protected “Box” recording device, which may be conveniently tucked away in the glove box through a coaxial video connection.
Furthermore, in May 2023, Nextbase, a UK-based consumer technology company and manufacturer of dash cams, launched Nextbase iQ, a next-generation of in-car security and driver assistance. The Nextbase iQ improves the driving experience, making any vehicle smarter, safer and more secure. It was created to expedite the development of next-generation connected-car technology
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The global dashboard camera market is segmented –
1) By Type: Front Facing Dashcam, Front And Rear Dashcam, Front And Interior Dashcam, Triple Lens Dashcam, Miniature Dashcam
2) By Technology: Basic, Advanced, Smart
3) By Application: Commercial Vehicle, Personal Vehicle
According to dashboard camera market analysis, the top growth potential in the dashboard camera market segmented by type will arise in the 1-channel segment, which will gain $3 billion of global annual sales by 2027.
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