Latest News- Passenger Vehicle Dashboard Camera Market: Single channel is expected to lead the Product segment during 2024-2028
The Passenger Vehicle Dashboard Camera Market is being driven by Increasing adoption of multi-channel dashboard cameras
The Passenger Vehicle Dashboard Camera Market is expected to grow at a CAGR of 22.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3575.3 million. In the automotive industry, dashboard cameras have emerged as a valuable addition to passenger vehicles. These devices, also known as in-car cameras, remain active while the vehicle is in operation and, in some cases, even when it is parked. While the continuous power supply during driving is ensured via the cigarette lighter receptacle, the challenge arises when the vehicle is stationary. Traditional dashboard cameras either rely on external batteries or the vehicle battery, leading to frequent battery replacements or draining. To mitigate these issues, market leaders have introduced energy-efficient dashboard cameras, ensuring uninterrupted recording without compromising the vehicle's battery life.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Single channel, Dual channel) Component (Battery, Lens, Gravity sensor, GPS, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Passenger Vehicle Dashboard Camera Market Research Report
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A dashboard camera, also known as a dashcam, is a digital video recorder installed in passenger vehicles for road safety and security purposes. These devices record real-time footage of the road ahead and can serve as crucial evidence in legal proceedings and insurance claims. Advanced dashcams incorporate AI, object detection, and vehicle telematics for enhanced safety measures such as lane departure warning, blind spot detection, and collision avoidance. Cloud technology enables real-time monitoring and storage of footage. Car DVRs offer safety benefits and proof in case of road mishaps, making them increasingly popular among vehicle manufacturers and public utility vehicles.
The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers for the automotive parts and equipment market include the surge in electronic components utilization in automobiles, fueled by the rising sales of electric vehicles, motorcycles, and PCs, leading to substantial demand for electronic control units (ECUs) and other electrical components in the past decade. Additionally, dashboard cameras, also known as dashcams, are gaining popularity as essential safety and security features in vehicles, contributing to the market's expansion in the context of road safety, accidents, legal proceedings, and insurance claims.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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