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Car DVR is a portable digital video recorder with a 120° wide-angle lens connected to the windshield or dashboard that captures high-definition (HD) videos & stores them. Car DVR is commonly known as a dashcam. The increase in incidences of accidents and car thefts globally is expected to promote DVR products to provide a close watch during parking mode or when the driver is away from the vehicle. These cameras are the primary drivers in the police patrol cars. Dashcams are becoming increasingly prevalent in Asia, Europe, Australia, & the U.S. for their usage in passenger and business automobiles as they capture video evidence of unplanned events. Furthermore, built-in DVR cameras with GPS, G-sensors, and Wi-Fi connectivity add value to the vehicle security. Further, owing to developments in wireless technology, the market for new car DVR installation and advancement in vehicle DVR or dashcams would steadily rise throughout the forecast period.
COVID-19 Impact Analysis
The outbreak of pandemic has emphasized the need for a cautious approach from the automotive companies. The disruptions in the rise in economic insecurity, and halt in the production line & supply chain led to uncertainty across many critical areas. Most manufacturers of electronic components market depend on the parts sourced from China which is problematic, especially for lower-level companies. However, the market for drive recorders is expanding, particularly in the developing economies, which has become a key area for market players. Manufacturers are likely to divert their capital in technological advancement initiatives such as expanding dashcam storage capacities, improving video quality, and driving the market even in unfavorable situations.
Top Impacting Factors
The Car DVR Market Trends are as follows:
Increase in Security Threats & Hacking:
Law enforcement agencies primarily use car DVRs across the globe. Features such as motion sensors, and smartphones & Wi-Fi access to the DVR make vehicle cameras vulnerable to security concerns like hacking and illegally recording car interior footage & confidential chats. As a result, numerous countries have strictly prohibited car DVRs in vehicles regarding safety & owner’s privacy. For instance, the government strongly discouraged the use of DVR in Switzerland and is not permitted by the law in Austria, where the user carries a heavy fine. Hence, privacy protection protocols in various countries hinder the market's growth.
Key Benefits of the Report:
Questions Answered in the Car DVR Market Research Report:
Key Market Segments
Key Market Players