LONDON--(BUSINESS WIRE)--The global automotive dashboard camera market is expected to post a CAGR close to 11% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing adoption of multi-channel dashboard cameras. Driving behavior and road traffic crashes can be captured and recorded with the help of dashboard cameras. This is increasing the demand for dual-channel or multi-channel dashboard cameras. Dual-channel dashboard cameras can record the events from a vehicle's front end and rear end as well as its interior. There are 3-channel dashboard cameras that can capture front end, rear end, and vehicle interiors. Most of the dual-channel or multi-channel dashboard cameras are single devices that consist of cameras on their either side. In addition to the abovementioned factors, insurance providers also play a significant role in the increasing adoption of multi-channel dashboard cameras.
As per Technavio, the introduction of energy-efficient dashboard cameras will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive dashboard camera market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global automotive dashboard camera market: Introduction of energy-efficient dashboard cameras
An automotive dashboard camera is always switched on when a vehicle is in the driving mode and when it is parked. These cameras are either powered by external batteries or the vehicle's battery, leading to frequent replacement of external batteries or the frequent draining of the vehicle's battery. To overcome such issues, manufacturers have introduced energy-efficient dashboard cameras. These dashboard cameras include both timer and voltage cut-off functions, wherein, when the timer is up or the vehicle battery's voltage drops to the cut-off value, it will stop powering the dashboard camera. Some vendors are also offering dashboard cameras with an in-built accelerometer that automatically switches the device to parking mode when the vehicle is stationary for 5 minutes or more. In addition to these, there are dashboard cameras with a built-in rechargeable battery, that start recording videos only when they detect an impact. Thus, the introduction of energy-efficient dashboard cameras will positively impact the global market during the forecast period.
“The high Internet penetration is increasing the adoption of connected technologies in the automotive industry across the globe. These expansions are also fueling the adoption of automotive dashboard cameras with connected technologies as these connected dashboard cameras have a remote surveillance feature. It also offers voice control, contextual alerts, GPS, wireless fidelity (Wi-Fi), and sensors. The availability of connected technologies allows users to remotely view the recorded video, which provides significant advantages in terms of safety for parked vehicles. This is expected to have a positive impact on the market over the forecast period,” says a senior analyst at Technavio.
Global automotive dashboard camera market: Segmentation analysis
This market research report segments the global automotive dashboard camera market by application (passenger cars, and commercial vehicles) and geographical regions (Europe, North America, APAC, South America, and MEA).
The European region led the market in 2018, followed by North America, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth. This can be attributed to factors such as increasing awareness of the importance of dashboard cameras, and the decreasing average price of dashboard cameras in the region.
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