The global dashboard camera market size is expected to reach USD 1.84
billion by 2022 according to a new report by Grand View Research, Inc.
Favorable government initiatives and rising demand for vehicular safety are
expected to boost global dashboard camera market growth.The industry is
expected to witness an upsurge in demand for dashcams in passenger and
commercial vehicles by positively driving industry growth over the forecast
period.
Dashcams facilitate in
recording video footage of road accidents and other untoward incidents through
windshield and assist in collecting evidences to be used in case of impending
legal actions. These legitimate evidences can be produced in courts in matter
of disputes against the offenders.
Increasing acts of vandalism,
car thefts, and wreckages are presumed to trigger the demand for automotive
surveillance systems. Dashcams provide automotive surveillance even in the
absence of driver and in parking mode.
However, several countries in
the European region such as Switzerland and Austria are facing bans on use of
dashcams. Violation of privacy and vulnerability towards unethical hacking have
hampered the reliability of such in-car DVR systems.
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Further key findings
from the report suggest:
·
Single-channel
dashcam segment dominated the global in-vehicle dashboard camera industry
accounting for more than 70% of the industry share in 2014. Dual-channel
dashcam systems comprise two cameras with high-resolution feed for front and
rear video recording. Dual-channel systems are relatively costly as compared to
single-channel systems as they enable video recording of external as well as
in-car events.
·
Industry players
are focusing on revenue generation through product differentiation. Vendors are
emphasizing on developing dashcams that can be integrated with high-end
technologies such as high-resolution night vision cameras and integrated GPS.
Vendors such as LyfeLens and BlackVue recently introduced advanced in-car DVR
systems that connect the car and smartphones and provides users with insight of
actions happening in and around the vehicles via real-time data, live video
feeds, and push notifications.
·
The Asia Pacific
regional market contributed to approximately 30% of the overall revenue share
in 2014. Increase in funding initiatives and increased focus on fraud
prevention offering road safety to motorists and passengers are anticipated to
impel growth in the regional market. Concentrated presence of manufacturers,
higher production capabilities, and availability of cheap labor in countries
such as China, and Taiwan are expected to fuel the demand for dashcams in the
region.
·
Key industry
participants include Amcrest Technologies, Falcon Zero, Fine Digital, Inc.,
ITronics Group, and WatchGuard Video. Innovative distribution and marketing
strategies adopted by vendors such as authorized e-commerce retailersare
expected to positively influence industry growth.
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About Grand View
Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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