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Automotive Dash Cam Market
Automotive dash cam are small video cameras mounted on the dashboard of a vehicle. These cameras are progressively being used to film the road at behind or front of a vehicle, either as a source of evidence in the event of an accident or as a source of entertainment. Furthermore, automotive dash cams are beneficial for capturing un-expected movement of cosmic bodies visible in the atmosphere. For instance, automotive dash cam footage was the most common footage of the 2013 Chelyabinsk meteor, which was a super bolide that enters into Earth’s atmosphere over Russia on February 2013. Hundreds of videos was documented from at least a dozen angles by automotive dash cams
Most of the prominent automotive dash cam manufacturers are located across South Korea, China, ASEAN, Australia and the U.S. automotive dash cams are easily available in the after-market at significantly lower cost than OEM-fitted automotive dash cam cameras. Thus, consumers are preferring dash cam cameras available in the aftermarket. Currently, many vehicle manufacturers are offering dash cam cameras as standard or as option.
Owing to the factors such as increase in rise in accident rates, discounts from insurance companies, upsurge in demand for vehicle security, acceptance of automotive dash cam footage as evidence, expansion of ride sharing and ride hailing activities, increased on-road recreational activities, and affordable procurement prices of dash cam cameras altogether are fuelling the demand for automotive dash cam cameras across the globe. Bad driving conditions across several nations, such as Russia, have resulted in heavy adoption of dash cam cameras. Furthermore, increase in product awareness amongst end users is going to augment the sales of automotive dash cams. Growing usage of automotive dash cams as recorded proof in settlement of vehicle accident related insurance claims is also gaining traction in the current subscribers.
Recently (in 2018), the Central Court of Germany has approved the automotive dash cam footage as a legal proof, which is expected to boost the demand for dash cam cameras across Germany. The U.K. is witnessing a rise in demand for automotive dash cam cameras. Europe accounted for a major share of the global market, in terms of revenue, in 2017, which is attributed to significantly large number of dash cams in U.K. and Russia. Similar to Russia, China and South Korea witnessed higher adoption of dash cam cameras. Prices of dash cam cameras are considerably lower in Asia Pacific, as a large number of dash cam camera manufacturers are located in the region. Expected mandate to have dash cam camera in vehicles across the U.S. is anticipated to boost the demand for dash cam cameras. The automotive dash cam camera market in the U.S. is anticipated to expand at a significant CAGR during the forecast period
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The global market of Automotive Dash Cam market used for various application is comparatively fragmented and manufacturers see the potential to increase the pace of the growth by the way of product launches and sales through new channels. Some of the market manufacturers identified in the Automotive Dash Cam market across the globe are:
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The Automotive Dash Cam report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Automotive Dash Cam provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Automotive Dash Cam also maps the qualitative impact of various market factors on market segments and geographies.