Market Trends of Dashboard Camera Industry
This section covers the major market trends shaping the Dashboard Camera Market according to our research experts:
Dual-channel Cameras to Witness Significant Growth
- Multi-lens dashboard cameras represent a lucrative segment to invest in for dashboard camera manufacturers. There has been an increasing preference for dual-channel dashboard cameras over single-channel dashboard cameras.
- These cameras are gaining popularity among private and commercial vehicle owners. Dual-channel dashcam systems comprise two cameras with high-resolution feed for front and rear video recording.
- For instance, in August 2022, DPPAI launched the Z50 dash cams model, As in Z-series, continuing the preview screen and sleek design but upgraded details with powerful performance. This is a 4K Dual Dash Cam. Compared with Z40, Z50 is more powerful in image processing and resolution. With advanced color boost algorithms and NightVIS technology, Z50 records with sharper details, balanced lighting, and vivid color even in dark conditions.
- Further, the introduction of innovative technology applications by the companies is driving the growth of the market. For instance, Thinkware launched its dual-channel Dash Cam F800 Pro, which has improved features over the F800 model. The new dashcam offers enhancements, such as better power management for hard -wired installations and a different color scheme, while retaining the best -in -the - business night capture
- With the increasing traffic-related fatalities across the globe, the market is expected to witness positive growth. The adoption rate of dash cams can be affected by several concerns regarding privacy issues, such as recording others involved in accidents without their permission, which is a breach of privacy. In countries, such as Belgium, Portugal, and Austria, privacy laws ban recording people without their consent with a dash cam.
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North America to Witness Significant Growth
- North America is expected to witness significant growth led by various companies and startups in the United States starting to make substantial investments to increase their presence and aid the region's adoption rate. Moreover, the existing companies are innovating new products to expand the product portfolio to gain market traction and increase their market share.
- For instance, Garmin International Inc. launched the new Dash Cam 46/56/66W and the Dash Cam Mini, the latest additions to its popular dashboard camera lineup. The new series includes an ultra-compact design, high-resolution video, an extra-wide view, GPS, and voice control; the drivers can easily find a Garmin dash cam that is tailored to their specific needs.
- Similarly, a group of startups in the United States have developed an innovative business model wherein the drivers are offered monetary rewards for installing dashboard cameras in their vehicles. As a result, an increasing number of ride service providers across North America, such as Lyft and Uber, have started deploying in-car DVRs to record their rides.
- Besides, the current lack of direct discounts from insurance companies for the installation of dashcams is estimated to impact the low interest of US consumers. However, stringent regulations mandated by the government, due to the growing number of accidents in the United States, are expected to propel the growth.
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