New York, Sept. 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Dashboard Camera Market Size, Share & Trends Analysis Report By Technology, By Product, By Application, By Video Quality, By Distribution Channel And Forecast sectors, 2022 – 2030” – https://www.reportlinker.com/p06318485/?utm_source=GNW
Dashboard Camera Market Growth and Trends
The global dash cam market size is expected to reach USD 7.64 billion by 2030, registering a CAGR of 9.5% from 2022 to 2030. Dash cams are hardware devices used to record the front and back view of vehicles. The primary use case for this hardware device is for insurance claims, vehicle theft security, hazardous road conditions, and more. The world’s leading manufacturers are focusing their efforts on developing innovative dash cams that can be connected to various complementary technologies, such as telematics and vehicle data monitoring. Commercial users, such as taxi operators, delivery companies, and trucking companies, purchase dash cams with the 2-channel (dual-channel) variant as they also capture images inside the vehicle .
In March 2020, Waylens, Inc. entered into a partnership with Hygealeo, an Internet of Things (IoT) solution provider, to provide a Secure360 dashcam security solution for cold chain transportation, which includes vehicle location and data monitoring. and the ability to record front, rear and cabin footage. The industry is growing as automobile traffic increases around the world, which has caused an increase in accidents, false insurance claims, scams, and more. Since these cameras are turned on in driving mode, they also have a feature to record instances that occur in parking mode. The camera starts recording video after detecting motion in its vicinity to capture as much evidence as possible. Manufacturers provide several features in their products such as GPS, night vision, real-time alert notifications, live streaming, etc. to increase product sales.
As high quality video recording hardware becomes widely available and more affordable, technologically advanced dash cams with high resolution video recording capabilities have become popular. Most devices are programmed to start recording as soon as the ignition is turned on.
This technology allows dash cams to remain in continuous recording mode, which may be a requirement for insurance companies. These devices help fleet owners monitor the driving behavior of their drivers.
These cameras are also used by car rental companies to monitor customer driving habits. Moreover, viewing its driving images can help improve driving skills, which propels the demand for products in personal vehicle applications.
Dashboard Camera Market Report Highlights
• Core technology segment accounted for the maximum revenue share in 2021 due to increased demand for dash cams with core functionality for personal vehicles
• The personal vehicle segment is expected to witness the fastest growth rate during the forecast period as a direct result of low prices and ease of installation
• Single-channel segment accounted for the largest share of revenue in 2021 and is expected to continue dominating the industry during the forecast period
• The Asia-Pacific region is expected to register the fastest CAGR from 2022 to 2030 due to increased automobile traffic and complex insurance claims procedures
Read the full report: https://www.reportlinker.com/p06318485/?utm_source=GNW
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