DUBLIN--(BUSINESS WIRE)--Mar 20, 2019--The "North America Dashboard Camera Market - Growth, Trends, and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The North America Dashboard Camera Market is expected to register a CAGR of over 15.41% during the forecast period 2019-2024
The market studied has expanded rapidly over the last few years, due to a considerable rise in the number of accidents and thefts, which have led to government mandating the installation of dashcams. Driving assistance systems have gained popularity recently, owing to the drastic rise in the number of accidental fatalities that have been reported in the last decade. The demand for better assistance systems to categorically judge imminent dangers, and guide drivers, has emerged as viable product in the automotive sector.
There is a drastic increase in automobiles sales, worldwide. As more and more users are growing conscious about safety, dash cam installations are expected to witness an all-time high, over the forecast period. Many car manufacturers are providing built-in dash cams in their cars, to fulfill customers' requirements for road safety. For instance, automobile manufacturer Citroen, has launched its first car to be sold in Australia, with a factory-fitted dash cam. It is integrated into the rearview mirror and records footage continuously, unless the driver switches it off.
There is a significant demand for driver assistance features in cars, which would help the drivers in navigation. Safety-conscious drivers also need smart dash cams that are innovative and have a better quality. Dash cams are also incorporating the ADAS functionality that takes driver safety to the next level, with its safety features, such as lane departure warnings, detection of front car movement, forward collision warnings, etc.
The rising number of automobile sales and increasing number of safety-conscious drivers are expected to increase the demand for dashboard cameras in cars, thus leading to its growth.
The problems of legality issues of dash cams are related to - obstructing the view through windshield and using electronic surveillance. Besides, these issues are dealt differently from one country to the other country, and can also differ within the jurisdictions of the same country.
There are privacy obligations for dash cam users, which have to be fulfilled. If people operate shared vehicles, they must inform the other person that a dash cam has been installed. This also holds true for those operating in the taxi industry. Minicab drivers, coach drivers, etc., who choose to use a dash cam, must inform every passenger who enters their vehicle that a dash cam is in use.
Scope of the Report
Dashboard Cameras are onboard cameras that continuously record the view through a vehicle's front windscreen and sometimes rear or other windows. The important benefits of vehicle dash cameras are its accident recording capabilities. It helps to capture vehicle collations on video which ensures that there is always a witness around. Besides, many people have used accident footage to prove that they were not wrong. Dashcams are also placed on truck' dashboard which help to record front facing videos. Besides, advanced dash cams can record rear views and some are equipped with specialized sensors to support more effective nigh time recordings.
Key Market Trends
Single-channel is expected to register a Significant Growth
The dashboard cameras are available in every conceivable configuration, ranging from a single lens to multiple lenses that allow simultaneous front and rear recording. The demand for single channel dashboard cameras is growing rapidly, due to the rising demand for dashboard cameras among motorists, owing to its usefulness in filing insurance claims, procurement of evidence for civil and criminal lawsuits, and other safety concerns.
Voxx International, one of the players, showcased its new 360Fly single lens 360 action camera. The ability of this system to provide mobility without a processor can be further extended to automotive applications, to obtain better-processed images. Further, the usage of wide-angle lenses in automotive camera modules is witnessing increasing adoption, due to a wide field-coverage and enhanced picture quality.
OEMs are exploring safety solutions that capture blind spots on the road. Thus, this technology is being adopted rapidly, on a large-scale. Single-channel dashboard cameras are relatively cheaper in comparison to the dual-channel dash cams, which further plays a vital role in influencing the consumers' purchasing opinion.
Basic Technology is Expected to Hold Major Share
Basic dashboard cameras are affordable (ranging from USD 20 to USD 100) and usually have limited features, compared to other dashboard cameras. This segment has witnessed rapid adoption of full HD dashboard cameras, which are fast replacing SD dashboard cameras. Basic dashboard cameras are in-vehicle cameras with built-in or removable storage media, which continually record driving, with no additional feature. Dashboard cameras are being installed with the intention of gathering evidence, in the event of a road traffic accident.
Major taxi service provider companies install dash cams in their taxis, to film the passenger area, for example, to increase taxi drivers' safety or to combat theft and vandalism. The basic dashcams are in-car cameras with built-in/removable storage media that constantly record driving, with no additional feature. In addition to basic practices of dash cams, advanced cameras offer much smarter features, such as audio recording, GPS logging, speed sensors, accelerometers, and uninterrupted power supply.
Also, benefiting from the trend of these dashboard cameras, a group of startups in the United States have developed an innovative business model, wherein they offer monetary rewards to drivers for installing dashboard cameras in their vehicles. The aim is to collect dash cam, recorded data, and ultimately aid technology companies in building maps for self-driving cars. As a result, an increasing number of ride-hailing service providers across North America, such as Lyft and Uber, have begun deploying in-car DVRs to record their rides.
The North America Dashboard Camera Market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability.
The companies operating in the market are also acquiring start-ups working on North America Dashboard Camera technologies to strengthen their product capabilities. In October 2017, Garmin acquired Navionics SpA, a provider of electronic navigational charts and mobile applications for the marine industry. Through this acquisition, the company aims to offer the best available breadth and depth coverage to it's marine customers.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase In Automobile Sales
4.3.2 Favorable Dashboard Camera Installation Mandates
4.3.3 Increase In The Number Of Road Accidents And Thefts
4.4 Market Restraints
4.4.1 Laws Restricting The Use Of Dash Cams In Some Areas
4.4.2 Reliability And Privacy Issues
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness Porters Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Technology
5.2 By Product
5.3.1 North America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Garmin Ltd
6.1.2 LG Electronics
6.1.3 Panasonic Corporation
6.1.4 Harman International Industries Inc
6.1.5 Transcend Information Inc.
6.1.6 Pittasoft Co. Ltd (BlackVue)
6.1.7 YI Technology
6.1.8 Papago Inc.
6.1.9 Mondo Systems Inc.
6.1.10 Steelmate Co. Ltd
6.1.11 Waylens Inc.
6.1.12 Rand McNally
6.1.13 Cobra Electronics Corporation.
6.1.14 HP Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/research/hm8wkb/north—america?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190320005381/en/
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Related Topics:Cameras and Camera Equipment,Car Electronics and GPS
INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO AUTOMOTIVE GENERAL AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 03/20/2019 08:19 AM/DISC: 03/20/2019 08:19 AM