A dashboard camera, popularly known as a dash camera, films and retains road activities or driver behavior. Instead of relying exclusively on eye-witnesses, vehicle insurance companies can fetch the recorded footage as direct evidence to know the cause of a road accident. These camera systems are typically positioned on the dashboard or windshield. Many systems have a bidirectional recording feature that captures both the vehicle's interiors and the external environment with a dual interior and exterior camera. The footage from the dashcam also works as evidence for resolving lawsuits. Having access to the dashcam footage helps drivers, insurance companies, and authorities analyze the situation. Furthermore, dash cams can also function as a second line of defense against scammers. They serve as a visible deterrent and reduce the possibility of fraudsters attacking the car if they notice the equipment installed. A victim of car insurance fraud can show that the fraudster waved their vehicle into moving traffic or backed into the vehicle at a stop signal to fake a rear-end crash. Thus, simplicity aided by dashcam recordings in the resolution of accident cases and insurance claim verifications is boosting the dashcam camera market
According to our new research study on “Dashboard Camera Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Technology, Product Type, Video Quality, Application, and Geography,” the market is projected to reach US$ 7,260.97 million by 2028 from US$ 2,018.69 million in 2021; it is estimated to grow at a CAGR of 20.1% from 2021 to 2028.
In road accidents, a dashboard camera market and recording systems can help fleets and regular motorists prove liability and protect innocent drivers. The footage captured by dash cams acts as a vital source of high-quality evidence for resource-strapped law enforcement authorities. The police can't be everywhere, but CCTV and in-vehicle cameras provide thousands of extra eyes on the streets. While police’s attitude and the legislation differ from country to country, many law enforcement agencies consider footage from citizen cameras a valuable tool in investigating and prosecuting crimes. Users are being encouraged to submit recordings of their dash cameras, whenever required. The Metropolitan Police Service in London introduced an online portal in October 2016; each year, the ~7,000 recordings are collected through this service, with contributed material being used to support over 300 prosecutions.
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ABEO Technology CO., Ltd, Garmin Ltd., Pittasoft Co. Ltd., Falcon Electronics LLC, Panasonic Corporation, Cobra Electronics Corporation, SAFE CAMS, THINKWARE, Harman International, and LG Innotek are among the key players that are profiled during the dashboard camera market study. In addition to these players, several other essential market players were studied and analyzed to get a holistic view of the dashboard camra market and its ecosystem.
Based on application, the dashboard camera market is segmented into commercial vehicle and personal vehicle. The personal vehicle segment led the dashboard camera market in 2020. As personal vehicle dashboard cameras are preferably located to watch the complete road ahead, every accident that customers witness or are engaged in is recorded. Dashcams or in-car cameras are fixed on the dashboard or the vehicle's windscreen. It starts recording as soon as a user switches on the car’s ignition. So, the customer will have the recordings of every drive, and upon getting involved in any incident, they might use the video proof to understand the complete incidence. Wi-Fi connectivity is a standard feature on several luxury automobiles. Hence, customers require a high-tech dashboard camera that would add an advantage to the safety concerns. Audi Connect is available in the Audi RS 4 Avant, and the BMW 5 Series features a Wi-Fi hotspot that allows customers to access the internet while on the road.
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