Albany, NY -- (SBWIRE) -- 08/17/2018 -- Dashboard cameras are onboard devices used in private cars, law enforcement vehicles, and rental and other commercial vehicles to record real-time videos both inside and outside of the vehicle. The global dashboard camera market is expected to see a significant growth through the forecast period. The factors boosting the demand for dashboard cameras include introduction of government initiatives encouraging installation of these cameras and insurance companies offering the benefits of paying lesser premium for vehicle owners those who have equipped their car with these camera. Use of dashboard camera is legal throughout the globe except some European countries including Austria, Portugal and Belgium.
Demand for dashboard cameras is highly dependent upon the cost of the equipment, ease of installation and maintenance, and robustness, and other durability parameters. Dashboard cameras for various classes of vehicles are available at a wide range of costs and video quality. The price of these cameras typically range from US$ 20 to over US$ 400 and are available in different configurations namely, front-view, rear-view, and dual-view cameras, thus increasing the affordability for nearly all classes of vehicles.
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The global dashboard cameras market is segmented on the basis of type (functionality) into basic, advanced, and smart dashboard cameras. Basic dashboard cameras are affordable (typically from US$ 20 to US$ 100) and usually have limited features compared to other dashboard cameras. Basic dashboard cameras are in-vehicle cameras with built-in or removable storage media that constantly record driving with no additional feature. In addition to basic features of dashboard camera, advanced cameras provide features such as audio recording, GPS logging, speed sensors, accelerometers and uninterruptable power supply. In 2013, basic dashboard cameras accounted for largest revenue share in the global dashboard camera market. Smart dashboard cameras are expected to see the fastest growth through the forecast period.
The dashboard cameras market is classified on the basis of its lens technology into single lens, multi lens and rear-view mirror style camera. Single lens forward recording dashboard cameras accounted for the largest revenue and volume share in 2013 and are expected to maintain their dominant position throughout the forecast period. This is due to the rising demand for dashboard cameras among motorists owing to its usefulness in filing insurance claims, procurement of evidences for civil and criminal lawsuits and for other safety concerns. Multi lens dashboard camera represents the most attractive segment to invest for dashboard camera manufacturers.
On the basis of geography, the global dashboard cameras market is segmented into four broad regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW). The report also includes country level analysis for major market in Europe and Asia Pacific region. Asia Pacific represents the largest regional market due to growing popularity of dashboard cameras among private as well as commercial vehicle owners. China is the largest market for dashboard cameras in Asia Pacific as well as in the global dashcams market. North America accounts for the low market share due to less popularity, stringent traffic regulations and traffic discipline. However, with the US government's initiatives to improve pedestrian safety in order to reduce causalities, the demand for these cameras is expected to increase substantially during the forecast period. Asia Pacific is predicted to see fastest-growth in terms of both revenue and volume through the forecast period. This is majorly due to the rising demand for these cameras in countries such as Japan, South Korea, Singapore, Taiwan, Hong Kong, China, and Australia.
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The global dashboard camera market is highly fragmented and comprises large number of small size players particularly from South East Asia. Industry competition is expected to increase through the forecast period as prominent digital camera manufacturers and automotive equipment manufacturers are continuously enhancing their expertise to gain significant market share in this emerging market. The major companies in the dashboard cameras market include Delphi Automotive Systems Pvt Ltd, Papago Inc., Harman International Inc, Garmin International Inc, Qrontech Co., Ltd. (Lukas), Pittasoft Co. Ltd. (BlackVue), DCS Systems Ltd. (RoadHawk UK), and others.