Dashboard Camera Market Analysis

What is the Market Size & CAGR of Dashboard Camera market in 2021?

The global dashboard camera market is expected to have a growth rate of 6.8% CAGR from 2021 to 2025. As a result, the market is anticipated to grow by USD 2.5 billion by 2025.

COVID-19 Impact on the Dashboard Camera Market

The COVID-19 pandemic had a significant impact on the dashboard camera market. With lockdowns and restrictions in place, there was a slowdown in the production and distribution of dashboard cameras. However, the demand for dashboard cameras increased as more people started using their vehicles for essential travel.

Dashboard Camera Dynamics

The dashboard camera market is driven by factors such as increasing concerns about road safety, growing adoption of advanced technologies in vehicles, and rising awareness about insurance frauds. However, challenges such as high cost of installation and privacy concerns may hinder market growth.

Segments and Related Analysis

The dashboard camera market can be segmented based on type, resolution, connectivity, and application. The most popular types of dashboard cameras include single channel, dual channel, and rearview mirror dash cams. Higher resolution cameras are becoming more common as they provide clearer footage. Connectivity options such as Wi-Fi and GPS add to the functionality of dashboard cameras. Applications of dashboard cameras range from personal use to commercial fleets.

By Region Analysis

The dashboard camera market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America currently leads the market due to a high adoption rate of dashboard cameras. However, the Asia Pacific region is expected to witness the fastest growth, driven by increasing awareness of road safety and technological advancements in vehicles.

Key Market Players and Competitive Landscape

Key players in the dashboard camera market include Garmin, Thinkware, BlackVue, Nextbase, and Rexing. These companies are focusing on product innovation, partnerships, and acquisitions to stay competitive in the market. The competition is intense, with players constantly striving to offer the latest features and technology in their dashboard cameras.

Recent happenings in the Dashboard Camera Market

In recent developments, Garmin launched a new line of dashboard cameras with enhanced driver assistance features. Thinkware introduced cloud connectivity for its dash cams, allowing users to remotely access footage. BlackVue partnered with an insurance company to offer discounted premiums for customers who use their dash cams. Nextbase announced a collaboration with a car manufacturer to integrate dash cams into new vehicles. Rexing unveiled a 4K dash cam with improved night vision capabilities.