Global Dashboard Camera Market to Rise at 16.5%
Transparency Market Research has recently published a research report to offer definitive insight into the global dashboard camera market. The research report evaluates the strengths, weaknesses, opportunities, and threats faced by the market segments in the overall dashboard camera market with the help of a SWOT analysis. Furthermore, research analysts have also examined the historical data and compared it with the present market scenario to determine the trajectory of this market for the coming years.
According to the research report, the global dashboard camera market was valued at US$1,458.2 mn in 2013 and is anticipated to rise at a CAGR of 15.3% between 2014 and 2020. Dashboard cameras are seen in private cars, rental vehicles, commercial vehicles, and law enforcement vehicles amongst others. These are real-time video recording devices that are installed on vehicle dashboards to capture the surroundings of the vehicles in order to monitor driving behavior, help the driver to park correctly, and to maintain video evidence in the event of an accident.
The primary growth drivers for the global dashboard camera market are strict road safety regulations, dropping prices of dashboard cameras, and growing awareness about advantages of using dashboard cameras. Furthermore, the growth of the automotive industry and the increasing installations of these cameras by car manufacturers, especially in the newer cars, are also expected to drive this market in the coming years. The only major factor restraining the growth of this market is the implementation of the Privacy Act in countries such as Austria, Portugal, and Belgium where cases of video recording of public places are liable to be reported.
The global dashboard camera market has been segmented on the basis of type, technology, and geography. The type of dashboard cameras in the market are advanced dashboard cameras, basic dashboard cameras, and smart dashboard cameras. The technologies used in this market are multi lens, single lens, and rear view dashboard camera. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.