Dashboard Camera Market Size
The global dashboard camera market was valued at USD 2245 million in 2017, and it is expected to reach USD 5148 million by 2023, registering a CAGR of 15.4%, during the forecast period of 2018-2023.
The dashboard camera market has developed rapidly over the last few years, due to the rise in number of accidents & thefts along with mandatory installation of dash cams in some countries. The dashboard camera are different from the first cameras found on police cars in the late 1980’s. Those cameras were analog cameras that did not have memory cards and recorded on VHS cassettes. The tables turned in the early 90’s when everyday citizens began to install them and use them to record driving instances. The advancements of technology had led to better and cheaper dash cameras. The important benefits of vehicle dash cameras are its accident recording capabilities. It helps to capture vehicle collations on video which insures that there is always a witness around. Besides, many people have used accident footage to prove that they were not wrong. Dashcams are also placed on truck’ dashboard which help to record front facing videos. Besides, advanced dash cams can record rear views and some are equipped with specialized sensors to support more effective nigh time recordings. The decreasing prices of dashcam worldwide has enabled the rapid growth of the market.