Connected Dashcam Market Size (2024 - 2030)

The Global Connected Dashcam Market was valued at USD 5.13 Billion and is projected to reach a market size of USD 20.40 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 21.8%.

A dashboard camera, or simply a dashcam, is a compact-size camera connected to the car and mounted on the dashboard, windshield, or rear-view mirror. It assists in recording the video footage of the road ahead. A dashcam acts as a silent witness in case of any road incidents, such as car theft, rash driving, road rage, road accidents, etc. Some high-end dash cams come with a rear-facing lens, which captures the rear view of the road. Advanced dashboard cameras also come equipped with additional features such as motion sensors, GPS tracking, and Wi-Fi connectivity for remote access to footage. The compact nature of the dashcam makes it easy to mount on a dashboard, and a simple operating mechanism makes it easy to use as well. In a nutshell, a dashcam is a third-eye, which records everything in front, or sometimes back of the car, whenever someone goes on a drive. 

A connected dashcam is an advanced version of a typical dashboard camera that utilizes Wi-Fi or cellular network connectivity to offer advanced features. These dashcams can connect to the internet, which allows drivers to upload and download recorded video from anywhere and at any time. Some connected dashcams provide real-time notifications and alerts, such as collision warnings, speed limit alerts, and traffic updates, which can assist drivers in maintaining road safety. Additionally, some connected dashcams have the capability to integrate with smartphones or other smart devices. As a result, drivers can control the camera, view footage, and receive alerts from the device directly. New advancements in connected dashcams include 4G connectivity, cloud security, AI integration for accurate unusual detections, night vision, etc. 

Global Connected Dashcam Market Drivers:

The rising number of road incidents is driving the demand for connected dashcams.

Car owners, who have dashcams, have the ability to record video of any attempted or actual theft, which can assist in locating and prosecuting the culprits. Additionally, some dashcams have motion detection and a parking mode that allows them to record footage even when the vehicle is parked and turned off and helps to notify owners of any suspicious activity. Owners of automobiles may be more likely to make an investment in a dashcam to safeguard their vehicles as a result of this increased level of safety. Moreover, dashcams assist in recording untoward incidents, such as rash driving, road rage, and even road accidents. Such recorded footage can further act as concrete evidence during the time to prove. The video evidence may also assist fellow road users, in case of any misfortunes. 

The increasing disposable income of consumers is also fueling the growth of the global connected dashcams market.

As disposable income increases, consumers generally have more money to spend on advanced technologies. This results in an increasing demand for advanced dashboard cameras, which come with internet connectivity, cloud storage, AI-powered sensors, etc. This factor helps fuelling the growth of the global connected dashcams market.

Global Connected Dashcam Market Challenges:

The global connected dashcams market is encountering challenges, primarily in terms of the high price and cybersecurity. 
Connected dashcams, in comparison to conventional dashcams, are more expensive due to the advanced technologies integrated with them. Thus, this makes it difficult for price-sensitive consumers to purchase the advanced versions of dashcams. 
Moreover, most connected dashcam manufacturers collect and share sensitive data, such as recorded footage, and use GPS location, with third-party companies that invent new technologies for better user experience. However, this practice can lead to major privacy and security concerns regarding user data, which may result in potential misuse of data and serious cyber-attacks. 

Global Connected Dashcam Market Opportunities:

The growing demand for fleet management solutions and the increasing awareness of safety and security among consumers are major opportunities in the global connected dashcam market.
Connected dashcams, which offer real-time data and analytics on driver behaviour and safety compliance, are becoming increasingly popular as the transportation industry grows. Thus, this can act as an opportunity for connected dashcam companies to create and utilize dashcams as a fleet management tool.
Consumers are looking for ways to safeguard themselves and their vehicles as they become more aware of the dangers of driving, such as theft and accidents. Connected dashcam companies can seize this opportunity to market and sell connected dashcams as an advanced safety and security solution for such events.

COVID-19 Impact on the Global Connected Dashcam Market:

The outbreak of the COVID-19 pandemic substantially impacted the global connected dashcam market. The implementation of strict lockdowns and travelling restrictions across several nations hampered major automotive companies manufacturing capacities. The pandemic caused disruptions in supply chains and the distribution of automobiles and automotive components, which resulted in manufacturing slowdowns and production shutdowns as well. This factor negatively impacted the demand for automobiles and automotive components, including connected dashcams. Despite these challenges, the global connected dashcams market is projected to recover and grow in the coming years.

Global Connected Dashcam Market Recent Developments:

• In January 2023, Nextbase announced its next-generation iQ series of smart dash cams at the CES 2023 event. These new iQ models come equipped with 4G LTE connectivity, which enhances safety and security features. 

• In May 2022, Qubo, Hero Electronix’s consumer technology brand, launched its smart dash cam in India. The dash cam is equipped with 1080p 30FPS HD video quality for recording and live viewing. 

• In June 2021, Garmin announced four new dash cams with cloud-connected storage. The Dash Cam Mini 2, 47, 57, and 67W can remotely monitor parked vehicles and provide free online video storage for up to 24 hours following an incident.

GLOBAL CONNECTED DASHCAM MARKET REPORT COVERAGE:

Global Connected Dashcam Market Segmentation: By Technology

• Basic

• Advanced

• Smart

Based on the technology, the global connected dashcam market is segmented into basic, advanced, and smart. In 2022, the basic technology segment held the largest market share. Basic technology dashcams are entry-level dashcams that comprise essential features, such as auto-recording, loop recording, 140-degree field-of-view, and audio recording. These dashcams are affordable and take only a few minutes to install. The majority of customers are happy with the basic features. Dash cams with basic technology are popular in developing countries due to their simple manufacturing process and low cost.

Global Connected Dashcam Market Segmentation: By Product Type

• 1-Channel

• 2-Channel

• Rear View

Based on the product type, the global connected dashcam market is segmented into 1-channel, 2-channel, and rear view. In 2022, the 1-channel product segment held the largest market share. 1-channel (or single recording) dashcams record video from only one direction. These dashcams are inexpensive, have only one lens, have limited memory storage, and have short battery life. Some 1-channel dashcams with advanced technology come with GPS tracking, motion detection, and parking mode. Dashcams with one channel are the most affordable options on the market.

Global Connected Dashcam Market Segmentation: By Video Quality

• SD & HD

• Full HD & 4K

Based on the video quality, the global connected dashcam market is segmented into SD & HD, Full HD & 4K. In 2022, the SD & HD video quality segment held the largest market share. Standard Definition (SD) and High Definition (HD) video quality dashcams produce low-quality videos as compared to Full HD and 4K quality dashcams but they capture enough details, such as number plates, road signs, etc. These dashcams are affordable and help in saving memory storage.

Global Connected Dashcam Market Segmentation: By Application

• Personal Vehicles
• Commercial Vehicles

Based on the application, the global connected dashcam market is segmented into personal vehicles and commercial vehicles. In 2022, the personal vehicle application segment held the largest market share. The growing concern of personal car owners related to safety and security issues such as car theft, road accidents, and insurance fraud, is driving the demand for connected dashcams. Personal car owners have greater freedom to select and install dashcams based on their individual needs and preferences. 

Global Connected Dashcam Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• The Middle East & Africa

• South America

In 2022, the North American region held the largest share in the global connected dashcams market. The United States police enforced the use of dashcams to provide corroborating evidence of crimes. The major users of dashcams in this region are rideshare drivers. Legislators in the United States are urging to make dashcams mandatory in every vehicle.
The Europe region held the second-largest share in the global connected dashcams market. Russia was the first nation to adopt dashcams, followed by the United Kingdom and Germany. Dashcams became mandatory in Russia due to the presence of aggressive drivers, insurance frauds, and the high rate of road accidents. However, the growth slowed down due to the Russia-Ukraine war.

Global Connected Dashcam Market Key Players:

1. Garmin Ltd. (United States)

2. Nextbase (United Kingdom)

3. Thinkware Corporation (South Korea)

4. Xiaomi Corporation (China)

5. Pioneer Corporation (Japan)

6. LG Innotek (South Korea)

7. BlackVue (South Korea)

8. Transcend Information. Inc. (Taiwan)

9. Aptiv PLC (Ireland)

10. Kenwood Corporation (Japan)