According to our new research study on “Dashboard Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Product Type, Video Quality, and Application,” the dashboard camera market share is projected to reach US$ 7,260.97 million by 2028 from US$ 2,018.69 million in 2021; the dashboard camera market is estimated to grow at a CAGR of 20.1% from 2021 to 2028.
The quality of service provided by public vehicle drivers is one of the most crucial aspects of any fleet management. Regardless of vehicle size, they need skilled, responsible, and trustworthy employees that are experts in their job. It is common knowledge that monitoring significantly impacts people's behavior. People’s behavior alters when they are aware that they are being observed through a tinted glass in an interrogation room or a surveillance camera at the workplace. Commercial vehicle dashboard cameras can have a similar effect on drivers, benefiting vehicle owners.
Logistics monitoring assists in tracking fleets that are constantly moving, and transporting freight and materials worldwide. As much of their performance depends on time and punctuality, having trustworthy technology to assist with logistics management is critical. Commercial fleet providers can stay ahead of the competition with an AI-supported dashcam logistics fleet monitoring system. It is simple to track freight using a network of dash cameras integrated with a control center, showing the location of all the fleet's vehicles. Logistics companies use computers or mobile devices to load all semi-trucks and logistics cargo sites. Vehicle whereabouts are sent to dispatch in real time, allowing them to schedule freight pickup and arrival schedules. For instance, the installation of iDrive Camera Systems allows drivers to stay alert and focused on the camera to create a safe environment, and help avoid crime and vandalism on vehicles. Thus, the surging need for dashcams is boosting the growth of the dashboard camera market players.
Based on technology, the dashboard camera market is segmented into basic, advanced, and smart. Based on product type, the dashboard camera market is segmented into 1-channel, 2-channel, and rear view (front and rear view). Based on video quality, the market is segmented into SD and HD, and full HD and 4K. Based on application, the market is segmented into commercial vehicle, and personal vehicle. Based on geography, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Impact of COVID-19 Pandemic on Dashboard Camera Market
The COVID-19 crisis had a domino effect on the global automotive sector since its inception in China, where sales of vehicles dropped by 71% in February 2020. Subsequently, sales declined by 47% in the US and 80% in Europe by April 2020. However, as the supply chain regained some strength from the third quarter of 2020 to the second quarter of 2021, automakers witnessed a steady rise in production levels. Furthermore, the crisis has brought rapid transformation across the mobility value chain and accelerated the digitization process. Although the pandemic-related restrictions led to prolonged or periodic shutdowns of production lines, non-manufacturing operations continued with secure connections through work-from-home or remote work models. Hence, the dashboard camera market growth was affected to a greater extent during the pandemic.
ABEO Technology CO., Ltd, Garmin Ltd., Pittasoft Co. Ltd., Falcon Electronics LLC, Panasonic Corporation, Cobra Electronics Corporation, SAFE CAMS, THINKWARE, Harman International, and LG Innotek are among the major companies operating in the dashboard camera market.
