The market for automotive dashcams is expanding as a result of an increase in traffic accidents and growing safety concerns. The World Health Organisation (WHO) estimates that there are 1.3 million traffic accidents globally each year, with low- and middle-income countries accounting for 93% of all fatalities. As a result, governments around the world are enforcing safety regulations and accident prevention measures by requiring the installation of rear-view cameras in automobiles. For instance, the National Highway Traffic Safety Administration (NHTSA) published a new regulation in 2014 mandating the installation of backup cameras in all buses and trucks and other vehicles weighing less than 10,000 pounds by the year 2018. The survey states that annually, back over accidents while driving in reverse result in an average of 210 fatalities and 15,000 injuries. This is because poor back visibility results in a significant number of injuries and fatalities among pedestrians each year. These are a few of the key variables propelling the growth of the global automobile dashcam market.
According to Coherent Market Insights, The Global Dash Cam Market had a value of about USD 3,541.3 million in 2021 and is projected to increase to nearly USD 7,027.4 million by 2028, with a CAGR of roughly 12.1% during the forecast period.
Prominent Players in the Car Dashcam Industry:
1. Panasonic Corporation
The firm was founded in 1918 and is located in Osaka, Japan. Rechargeable batteries, automotive and avionics systems, industrial systems, as well as home renovation and building, are just a few of the many goods and services that Panasonic provides. According to reports, Panasonic will purchase Blue Yonder for US$6.45 billion in March 2021 after purchasing a 20% ownership in the company for 86 billion yen in 2020.
2. Hewlett-Packard Company
The company was founded in 2015 and is located in Texas, United States. The company provides computers, printer hardware, cameras, scanners, and personal computing solutions including consumer notebooks, desktops, workstations, handheld devices, and internet appliances. It also provides printing and image solutions.
3. Aiptek Inc.
The firm was established in 1986 and has its main office in Taiwan. The company makes and sells electronic products, including tablets with handwriting recognition, video phones, digital video camcorders, and digital cameras. The business makes consumer electronics, specialising in the production of pico projectors, camcorders, graphic tablets, digitizers, photo frames, and 3D items.
4. Garmin
The firm was founded in 1989 and is located in Kansas, U.S. The company also provides watches, navigational communications, and sportswear items in addition to designing, developing, manufacturing, and marketing global positioning systems. In March 2023, Garmin will release its Forerunner 265 and Forerunner 965 GPS running watches with AMOLED displays. In February 2023, Garmin announced that several Commander and Cessna aircraft have been certified for the GFC 500 autopilot.
5. LG Corporation
The business was started in 1947 and has its headquarters Seoul, South Korea. The business produces and sells household appliances and digital display devices. The company manufactures and sells flat-panel televisions, audiovisual items, washing machines, air conditioners, refrigerators, and telecommunications devices like tablets and smart phones.
6. Pittasoft Co. Ltd.
The company was founded in 2007 and is located in Seoul, South Korea. Offering computer programming services is one of the company's business divisions.In terms of linked car dashboard cameras (dashcams), Pittasoft is a world leader in design and production. Pittasoft Co. Ltd. is a well-known manufacturer and exporter of CCTV, IP cameras, and surveillance cameras.
7. Satechi Baravon
The business was started in 2005 and is based in San Diego, California. Innovative tech goods and accessories are available from the award-winning consumer electronics company Satechi. Satechi released a new portable power bank in December 2022 that can simultaneously charge three devices while travelling.
*Definition: Small video cameras known as dashcams are mounted on the dashboard of a car. As a form of entertainment or as a way to gather proof in the event of an accident, they are increasingly being used to record the road in front of or behind a moving vehicle.
