Passenger Vehicle Dashboard Camera Market Outlook – 2027
Dashboard cameras are specialised, compact and portable onboard video recording cameras which are placed inside of the vehicle & are always switched on to record the view through the front windscreen. The demand for these cameras has grown significantly owed to seeking legal protection in case of vehicle collisions and increasing number of car thefts. Furthermore, 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 and hence has a positive effect on the demand for dashboard cameras. Therefore, the high acceptance for latest technology and discounts on insurance premiums is expected to drive the market growth for the passenger vehicle dashboard camera market growth.
COVID-19 scenario Analysis:
- Coronavirus has disrupted operations for the passenger vehicle dashboard camera manufacturers due tolockdowns across the affected countries which in turn will affect the passenger car dashboard camera industryand has experienced a majordemand disruptions and factory closure owing to the pandemic.
- Absenteeism of workforce in manufacturing units is on the rise due to the reluctant behavior of employees towards the production process during the coronavirus pandemic and also the productivity level of the passenger car dashboard camera manufacturer has been hampered.
- The vendors in passenger car dashboard camera industry across the globe are suffering due to the market disruptions in the supply chain networkowing to the government declared lockdowns which in turn further affects the global passenger car dashboard camera manufacturers worldwide.
- The rapidly changing demand has substantially disrupted the production process during the coronavirus pandemic, which will impact severely on the passenger car dashboard camera market by deviating the manufacturing process due to government declared shutdown.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Rising number of road accidents & car thefts, favourable initiatives pertaining to the usage of dashboard cameras and benefits for vehicle owners & motoristsare driving the growth of the market. However, reliability & privacy issues and laws restricting the use of dashcams in countries such as Austria and Luxembourg are expected to hamper the growth of the market. Contrarily, increasing adoption of dashboard cameras in passenger 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 passenger car dashboard camera market trends are as follows:
Increase in adoption of dashboard cameras in passenger vehicles
The increasing preference for the installation of the safety systems such as dashboard cameras majorly owing to the persistence and discounts provided by the insurance companies on premiums. Thereby, avoiding insurance fraud & ensuring the safety of the passengers as well as the pedestrians on road is an opportunity for the adoption of dashboard cameras in the passenger vehicles. Furthermore, dashboard camera protects against the potential security compromises & prove to be reducing the legitimate insurance claim cost by over 50 percent in the year 2019. Various passenger vehicle owners are promoting the usage of dashboard cameras to maintain the discount on the insurance premium to the maximum amount. Therefore, increase in adoption of dashboard cameras in passenger vehicles is anticipated to boost the market growth for the passenger vehicle dashboard camera market.
Key benefits of the report:
- This study presents the analytical depiction of the passenger 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 passenger vehicle dashboard camera market.
- The current market is quantitatively analyzed to highlight the passenger vehicle dashboard camera market growth scenario.
- We can also determine dashboard cameras will remain a significant revenue shareholder in the global passenger vehicle dashboard camera market through the predictable future.
Questions answered in the global passenger vehicle dashboard cameramarket research report:
- Which are the leading market players active in passenger 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?
Passenger Vehicle Dashboard Camera Market Report Highlights
Key Market Players
Satechi Baravon., ABEO Company, Qrontech Co. Ltd., Panasonic Corp, Garmin, Hewlett-Packard, Aiptek Inc., DOD-Tech Co. Ltd., Pittasoft, LG Corp