Dashboard Camera Global Market Report 2024

The dashboard camera market size has grown exponentially in recent years. It will grow from $3.81 billion in 2023 to $4.59 billion in 2024 at a compound annual growth rate (CAGR) of 20.5%. The expansion observed in the historical period can be credited to several factors, including robust economic growth in emerging markets, a global increase in road accidents, a rise in fraudulent insurance claims, and an escalation in vehicle theft incidents.

The dashboard camera market size is expected to see rapid growth in the next few years. It will grow to $9.4 billion in 2028 at a compound annual growth rate (CAGR) of 19.6%. Forecasted growth is driven by increased consumer awareness of in-car safety, rising sales of electric/hybrid vehicles, widespread adoption of advanced driver assistance systems, and a global surge in vehicle production. Key trends include dashcam integration with telematics, fleet tracking tech, smart dashcams, product innovation, LTE-connected dashcams, and ongoing technological advancements.

The surge in the number of road accidents has become a driving force behind the growth of the dashboard camera market. Distracted driving has evolved into a significant threat and a major contributor to car accidents over the past decades. In May 2022, the National Highway Traffic Safety Administration, a US-based government agency, released estimates for traffic fatalities in 2021, revealing that an estimated 42,915 individuals lost their lives in traffic crashes, marking a 10.5% increase compared to the 38,824 fatalities recorded in 2020. Consequently, the escalating number of road accidents is expected to propel the growth of the dashboard camera market.

The increasing adoption of advanced driver assistance systems is poised to drive the expansion of the dashboard camera market in the foreseeable future. Advanced driver assistance systems are technological features designed to enhance driving safety by reducing the frequency and severity of unavoidable auto accidents. Certain dashcams feature Advanced Driver Assistance Systems (ADAS), alerting drivers in critical life-or-death situations. These systems monitor the road and issue alerts if the driver exhibits signs of drowsiness or veering off course. The combination of ADAS and dash cams is effective in identifying risky driving behaviors, notifying drivers of aggressive, distracted, or drowsy driving. According to the National Safety Council, a US-based nonprofit organization promoting health and safety, projections indicate that by 2026, at least half of all registered vehicles will incorporate two ADAS systems. Rear cameras are expected to be featured in around 71% of registered vehicles, and 60% will be equipped with rear parking sensors by 2026. However, adaptive headlights are projected to be present in only 13% of registered vehicles, and adaptive cruise control with lane centering in 17% by the same year. This surge in advanced driver assistance systems' adoption is set to drive the dashboard camera market.

The integration of dashcams with telematics systems emerges as a prominent trend in the dashboard camera market. Telematics systems utilize GPS and onboard diagnostics (OBD) to monitor the movements of vehicles, machinery, and other assets, displaying the collected data on a digital map. Commonly known as fleet tracking or GPS vehicle tracking, telematics has become a vital management tool for various private and public fleets. Leading companies in the dashboard camera market are directing their efforts towards the development of dashboard cameras based on telematics systems, aiming to enhance their market position. In June 2023, HCSS, a US-based provider of software for heavy civil businesses, introduced the HCSS ADPlus Fleet Dashcam - a plug-and-play dash camera integrated with an AI processor. This innovative system detects driving incidents such as forward collisions and negligent driver behavior, including phone usage and distractions. Heavy construction organizations can deploy HCSS Dashcams on their fleet vehicles to ensure driver safety and prevent accidents.

Companies in the dashboard camera market are actively engaged in developing new and innovative products to fortify their market presence. For example, in March 2023, BlackVue, a South Korea-based dashcam manufacturer, unveiled the DR770X Box - a triple-camera cloud-compatible dashcam with a separate secure recording unit. Tailored for drivers and fleet owners seeking elevated security and discretion, the DR770X Box features front, interior, and rear cameras linked to a lock-protected Box recording device. The latter can be conveniently stored in the glove box through a coaxial video connection. The interior camera is equipped with infrared LEDs, enabling recording even in complete darkness. Furthermore, the cameras boast Full HD Sony STARVISTM image sensors, ensuring optimal image quality in varying lighting conditions. Additionally, the DR770X Box Truck variant is designed for installation in larger vehicles such as box trucks and buses, featuring an externally mounted rear camera and a fifteen-meter video connection.

In August 2022, Adesso, a leading Germany-based manufacturer specializing in computer peripherals, security cameras, and technology solutions, successfully acquired the MYGEKOGEAR brand from Papago Inc., a prominent US-based company in the field of computers and electronics manufacturing. The financial details of the acquisition were not disclosed. Through this strategic move, Adesso aims to incorporate the complete range of MYGEKOGEAR products into its portfolio. Adesso plans to distribute these products through key partners, including renowned names such as Ingram Micro, TD Synnex, D&H, Staples, Office Depot, CDW, Amazon, Walmart, Best Buy, and Micro Center. Notably, Papago Inc. has gained recognition in the industry for its car dashcam products, which have contributed to its reputation as a notable player in the computer and electronics manufacturing sector.

Major companies operating in the dashboard camera market report are JVCKENWOOD Corporation, Panasonic Holdings Corporation, LG Innotek, Garmin International, DigiLife Technologies CO. Ltd., Philips, Pittasoft, Nexar, Falcon Electronics LLC, Nextbase, Huawei Technologies Co, Vantrue, 70mai, Shenzhen Teamspower Electronics Company Ltd., Huizhou Boshijie Technology Co.Ltd., Huizhou Great-Will Industrial Co. Ltd., Shenzhen Ouxiang Electronics Co. Ltd., Shenzhen Lemik technology Co. Ltd., Shenzhen Ease-Way Tech. Co. Ltd., Qubo Car Dash Camera, F5 WiFi Dash Cam Front, Thinkware, Connixion, Concox, Midland, Osram, MOBOTIX, Blaupunkt, Promwad, Mobius Action Cam, Rexing V1LG, Blackboxmycar, Canada Computers, Jimi IoT, DDPAI, Redtiger, CPPlus, Loconav, Verizon Connect, Krishcom, Zane Wave, Mvp Tech, N Tech Security Systems, Ansari Security Systems, V-ITS, FleetCam, Eyetrust Surveillance, Edacom CC, CAMERA TRAPS.

North America was the largest region in the dashboard camera market in 2023. Europe was the second-largest market in the dashboard camera market. The regions covered in the dashboard camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the dashboard camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The primary types of dashboard cameras include 1-channel, 2-channel, 3-channel, and rear rear-view variants. A 1-channel dashboard camera typically features a single-lens or single-camera setup within a vehicle's dashcam system. These cameras employ various technologies categorized as basic, advanced, and smart, utilized across commercial and personal vehicle applications.

The dashboard camera market research report is one of a series of new reports that provides dashboard camera market statistics, including dashboard camera industry global market size, regional shares, competitors with a dashboard camera market share, detailed dashboard camera market segments, market trends and opportunities, and any further data you may need to thrive in the dashboard camera industry. This dashboard camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The dashboard camera market consists of sales of mini dashcams, dual-camera dashcams, and infrared night vision dashcams. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.