Light Commercial Vehicle Dashboard Camera Market Outlook- 2027
Light commercial vehicle dashboard camera is a portable onboard video recorder which is placed inside the vehicle and hence continuously recording the view though the vehicle’s front windscreen. Dashboard cameras can also monitor a 360-degree view of the car which can further send the recording over a 4G connection. Furthermore, the demand for dashboard cameras in a light commercial vehicle has significantly increased owing to the legal protection in case of vehicle collisions and increasing number of car thefts. The recording from the camera is used for presenting evidence for insurance claims and thereby, preventing majority of insurance fraud. Moreover, discounts on insurance premiums are provided by the companies to the vehicles which are equipped with dashboard cameras. Therefore, the high acceptance for latest technology and discounts on insurance premiums is expected to drive the market growth for the light commercial vehicle dashboard camera market growth.
COVID-19 scenario Analysis:
- Majority of light commercial vehicle dashboard camera manufacturers are facing major issues such as closure of factories and unavailability of workforce due to the lockdowns which further affects the production of the light commercial vehicle dashboard cameras.
- As the governments across the affected countries have declared lockdowns over the past few months, a major decline in the demand and supply cycle network for the global light commercial vehicle dashboard camera manufacturers was experienced.
- The vendors in light commercial vehicle dashboard camera industry across the globe are suffering due to the market disruptions in the demand network owing to the government declared lockdowns which in turn further affects the global light commercial vehicle dashboard camera manufacturers worldwide.
- The pandemic has experienced a negative impact for the light commercial vehicle dashboard camera market size for the year 2020, an estimated of 3-5% of deviation is noticed in the growth of dashboard camera manufacturers due to coronavirus.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in number of road accidents & car thefts, favourable initiatives pertaining to the usage of dashboard cameras and benefits for vehicle owners & motorists are driving the growth of the market. However, reliability & privacy issues and laws restricting the use of dashcams in countries such as Austria & Luxembourg are expected to hamper the growth of the market. Contrarily, increasing adoption of dashboard cameras in light commercial vehicles and government initiatives encouraging the use of these cameras creates a favourable condition for the implementation of dashboard cameras which can be an opportunity for the market investments.
The light commercial vehicle dashboard camera market trends are as follows:
Increase in number of road accidents
A significant increase in the number of road accidents were witnessed majorly in low & middle economical countries such as Bangladesh, Indonesia and others. For instance, according to the world health organization (WHO), around 1.25 billion people die every year due to the road accidents. Furthermore, 90 percent of the road fatalities in the world occur in low & middle economical countries due to lack of appropriate infrastructure for the construction of roads and highways. Owing to the various mentioned factors, an increase in demand for dashboard cameras in the light commercial vehicles for safety & security of the passenger as well as the pedestrians is experienced worldwide. Therefore, the increase in number of road accidents is anticipated to boost the market growth for the light commercial vehicle dashboard camera market.
Key benefits of the report:
- This study presents the analytical depiction of the light commercial vehicle dashboard camera industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the light commercial vehicle dashboard camera market.
- The current market is quantitatively analyzed to highlight the light commercial vehicle dashboard camera market growth scenario.
- We can also determine dashboard cameras will remain a significant revenue shareholder in the global light commercial vehicle dashboard camera market through the predictable future.
Questions answered in the global light commercial vehicle dashboard camera market research report:
- Which are the leading market players active in light commercial vehicle dashboard camera market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Light Commercial Vehicle Dashboard Camera Market Report Highlights
Key Market Players
Garmin, Satechi Baravon., Hewlett-Packard, LG Corp, ABEO Company, Qrontech Co. Ltd, DOD-Tech Co. Ltd., Pittasoft, Panasonic Corp, Aiptek Inc.