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 tool for vehicle security. These devices are designed to remain active while a vehicle is in operation and, in some cases, even when it is parked. When engaged, they draw power from the cigarette lighter receptacle or the on-board diagnostics (OBD) port. However, the continuous power consumption can lead to issues such as frequent battery replacements or drained vehicle batteries. To mitigate these challenges, dashboard camera manufacturers have introduced energy-efficient models, ensuring uninterrupted recording without compromising battery life. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing adoption of multi-channel dashboard cameras
• Discounts on insurance premium for vehicles with dashboard cameras
• Large number of road accidents and road rage

However, the market also witnesses some limitations, which are as follows:

• Inconsistent quality of automotive dashboard cameras
• Technological advances in automobile safety features
• Privacy laws restricting use of dashboard cameras

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Market Scope in Passenger Vehicle Dashboard Camera Market Research Report

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Research Analysis Overview

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, providing valuable evidence in case of accidents, legal proceedings, or insurance claims. Advanced dashcams incorporate AI, object detection, and vehicle telematics for real-time monitoring and safety measures such as lane departure warning, blind spot detection, collision avoidance, forward collision warning, and more. Car DVRs have become essential safety devices, with some vehicle manufacturers even offering them as standard equipment. Public utility vehicles also utilize dashcams for enhanced safety and accountability. Cloud technology enables easy access to recorded footage, making it an indispensable tool for vehicle owners.

Market Research Overview

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 manufacturers of automotive components and equipment. Key growth drivers in this sector include the escalating demand for electronic control units (ECUs) and other digital video recorders, such as dashboard cameras or Dashcams, due to rising concerns for road safety, increased instances of accidents, legal proceedings, and insurance claims. These factors underline the significance of safety and security in modern automobiles.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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