Dashboard Camera Market Report (2024-2030) - Size and Share Analysis, Industry Trends, and Growth Forecasts

Dashboard Camera Market Size & Share

The size of the global dashboard camera market was around USD 4,270.2 million in 2023, and it is expected to reach USD 8,297.2 million by 2030, advancing at a CAGR of 10.1% over the forecast period (2024–2030). This can be ascribed to the increase in people's awareness of vehicle theft and accidental damage. The footage recorded by these cameras is advantageous for legal actions, filing an insurance claim, and security purposes.

In 2022, worldwide commercial vehicle production grew to around 23.7 million units, continuing the recovery from the three-million-unit drop recorded in 2020 due to COVID-19. The rise in automotive production and sales directly drives the integration of these now-necessary safety components.

Dash cams were first used in the 1980s in police vehicles. They were, principally, simple cameras that did not have memory cards, with the videos recorded on VHS tapes. With technological advancements, high-quality video recording in HD/4K is now possible, which is also a contributing factor to the increasing interest of vehicle owners in installing these devices. Furthermore, dual-channel dash cams are now popular as users not only get proper evidence of the event in the front but also complete subtleties of what is going on behind. These devices are also becoming popular among moto vloggers, enabling them to record the real view of the road, especially on scenic routes that meander through mountains or go along the coastline.

Dashboard Camera Market Trends and Growth Drivers

Introduction of ADAS Technology in Vehicles

• Dash cams are an important component of the advanced driver assistant system (ADAS), which alarms the driver in critical situations. The visual features of ADAS function from the central rear-view camera. The introduction of this technology in luxury cars and commercial vehicles is directly contributing to the growth of the market.
• Dual-channel or rear-view dash cams also assist drivers in parking vehicles and show them what is behind, thus enhancing vehicle and passenger safety.

Increase in Number of Road Accidents

• Distracted driving has become a significant factor in the number of car accidents over a few decades. For example, as per the Public Roadway Traffic Security Organization, 42,915 people died in car accidents in 2021 a 10.5% rise over the 38,824 fatalities recorded in 2020.
• The market for dashboard cameras will expand with the rising number of road accidents as these devices assist drivers in keeping a check on their surroundings and obstacles.

Risin Frequency of Privacy Violations

• Digital recorders are deployed by automobile manufacturers when users file complaints regarding the malfunction of airbags. This move is made to enhance the airbag technology and protect themselves against any legal filing.
• Most dash cam frameworks are either outfitted with inbuilt GPS or have arrangements for interfacing with an outer GPS module. Telecom organizations record location data over a period, using these GPS modules, and store it safety on their servers.
• If sensitive user location data is misused or falls into the wrong hands, personal security may be compromised. However, under certain circumstances, specific laws permit other organizations, such as government agencies, to access data without the user's permission.
• In some European countries, there are rules and regulations regarding the use of dash cams. For instance, while publishing video footage, the entity needs to blur out all the registration numbers of other vehicles and people’s faces. However, some regional countries, such as Cyprus, Luxembourg, and Portugal, have still not validated the use of these devices.
• There are some restricted zones where the use of dashcams is strictly prohibited, such as near critical government offices, such as those of the defense ministries and residences of national leaders, as it can put their lives at risk.

Dashboard Camera Market Outlook

Technology Insights

• The basic technology is the largest category, holding a share of 60 in 2023. Due to the advancements in technology, manufacturers have reduced the cost of cameras with the basic technology. Additionally, customers are satisfied enough with these variants as it can fulfill their primary needs.
• The advanced category will have a CAGR of 11 % during 2024–2030. There has been rising mindfulness regarding the advantages of advanced cameras among clients because of the large number of accidents and street mishaps caught by cameras. The leading market players are presently offering Wi-Fi-powered models, permitting clients to move the recordings to their cell phones and access them via mobile applications. Alongside this, organizations are also syncing GPS into these systems.

During the study, we categorized the global market, based on technology type, into:

• Basic (Largest)
• Advanced (Fastest)
• Smart

Product Type Insights

• The single-channel category gained the major market share, of 70%, in 2023. For drivers who want a basic dash cam that can record the footage of their trip, single-channel models are a great choice. To have visual proof in the event of an accident or other issue, drivers can record any occurrences that happen on the road.
• Furthermore, a larger spectrum of customers may purchase single-channel variants due to their lower cost compared to multi-channel ones. The demand for single-channel devices will essentially rise as more drivers come to understand the value of owning a dash camera.
• These gadgets are ideal for individuals who need to safeguard themselves and have proof if a mishap should occur.
• The dual-channel dashcam market is expected to be the fastest-growing, at a CAGR of 10%, from 2024 to 2030. It can record a nearly 360-degree view outside the vehicle, which is why it is becoming popular among moto vloggers and commercial users, such as owners of truck, bus, and taxi fleets.

Based on product type the global market is categorized into:

• Single-Channel (Largest)
• Dual-Channel (Fastest)
• Rear-View

Video Quality Insights

• The global market was dominated by the SD & HD video category, with a revenue share of 75%, in 2023. SD cameras normally record lower-quality recordings, permitting them to keep longer recordings in their small memories.
• Full HD & 4K will be the faster-growing bifurcation, at a CAGR of 12% during 2024–2030. They can record video footage at a relatively high resolution, which is considered acceptable evidence by the police, insurance companies, and other legal bodies. There is also a huge interest among moto vloggers in full-HD and 4K recorders with motion sensors, as they enable them to record and upload high-quality videos.

Based on video quality, the global market is bifurcation into

• SD & HD (Larger)
• Full HD/4K (Faster)

Vehicle Type Insights

• The personal cars bifurcation dominated the market, with a revenue share of 80%, in 2023. Usually, passenger cars have more luxurious features and cutting-edge electronics than commercial vehicles, which raises the risk of burglaries for the former.
• Commercial vehicles are set to be the faster-growing category, at a CAGR of 13 %, during 2024–2030. Fleet operators need to monitor and manage their vehicles as they need to ensure that their services are provided on time and with the quality desired by the consumer. In many countries, regulatory bodies have made it mandatory to install dual-channel dash cams in commercial vehicles.

Based on application, the global market is bifurcated into

• Personal Cars (Larger)
• Commercial Vehicles (Faster)

Distribution Channel Insights

• The in-store category held the larger share, of 85%, in 2023. As the installation of these components can be tricky, most users purchase them at the store.
• The online category is expected to witness the higher CAGR, of 12.5%, during the forecast period. Online vendors offer great deals, which attract the attention of buyers. The online distribution channel is also becoming popular as it eliminates the need to step out of the home, and the product is delivered at customers’ doorstep. It also makes it easy for manufacturers to attract customers at a low cost and increases their sales.

Based on distribution channel, the global market is separated into

• In-Store (Larger)
• Online (Faster)

Europe is the Largest Region

• Europe held the largest global market, share of 45%, in 2023. This is because insurance companies now accept dashcam videos as evidence when processing insurance claims.
• Additionally, people are becoming aware of this technology and are not hesitating to invest in it. This is because these components can eventually reduce the maintenance costs, while improving the driving experience and comfort.
• Although a few countries in Europe initially banned this technology, many others came up with some rules and regulations for its usage and standardization. One of the rules says that the gadget should not block the driver’s view, and the privacy of other people should be protected if the footage is published.
• Asia-Pacific is set to be the fastest-growing market for this technology, at a CAGR of 14%, during 2024–2030. Several global players have cut the cost of dash cams, which has helped attract people to them.
• Digital technologies are being adopted in different aspects of the daily life, and people are not hesitating to use this technology while driving, as it records priceless moments during the journey.
• With the introduction of Wi-Fi-enabled cams, it is possible to transfer the recorded video to a smartphone in a fraction of a second.

The regions and countries analyzed for this report include:

• North America
  • U.S. (Larger and Faster-Growing Country)
  • Canada
• Europe (Largest Regional Market)
  • Germany (Largest Country Market)
  • U.K. (Fastest-Growing Country Market)
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Brazil (Largest and Fastest-Growing Country Market)
  • Mexico
  • Rest of LATAM
• Middle East and Africa (MEA)
  • Saudi Arabia (Largest Country Market)
  • South Africa
  • U.A.E. (Fastest-Growing Country Market)
  • Rest of MEA

Dashboard Camera Market Competitive Landscape

Several market key players have R&D centers for developing new solutions, which are user-friendly. The global market witnesses healthy competition among the key players, which reduces the price of the basic products and contributes to the growth of the global market.

Dashboard Camera Market News

• A smart device brand owned by Hero Electronix, Qubo introduced two new devices—Dashcam Pro 3K and Dashcam Pro X—in October 2023. Their features include loop recording, time-lapse, GPS tracking, and front and rear cameras.
• In February 2019, Panasonic introduced the AS-1 Arbitrator, which meets the critical needs of law enforcement agencies on the road. This high-resolution camera is equipped with a wide-angle lens.
• In January 2023, Garmin Ltd. introduced a camera that can be connected to an LTE network and enable drivers to look at a vehicle’s exterior in real-time. Additionally, it allows for cloud storage for high-resolution videos.
• Thinkware collaborates with BMW to develop an integrated dash cam technology, BMW Advanced Car Eye (ACE) 2.0.