Market Size and Overview:

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, commonly referred to as a dashcam, is a small-sized camera affixed to a vehicle and positioned on the dashboard, windshield, or rear-view mirror. Its primary function is to capture video footage of the road ahead. Acting as a silent observer, a dashcam plays a crucial role in documenting various road incidents such as theft, reckless driving, road rage, and accidents. Some advanced models of dashcams include a rear-facing lens to record the view behind the vehicle. Furthermore, modern dashboard cameras boast additional features like motion sensors, GPS tracking, and Wi-Fi connectivity for remote access to recordings. The compact design of dashcams facilitates easy installation on the dashboard, coupled with user-friendly operation.

A connected dashcam represents an evolved iteration of the traditional dashboard camera, leveraging Wi-Fi or cellular connectivity to offer enhanced functionality. These connected dashcams enable users to access recorded footage from anywhere and at any time via internet connectivity. They often provide real-time alerts and notifications such as collision warnings, speed limit alerts, and traffic updates, thereby contributing to road safety. Additionally, some connected dashcams can integrate with smartphones and other smart devices, granting users direct control over the camera and access to alerts. Recent advancements in connected dashcams include features like 4G connectivity, cloud-based security, AI integration for precise anomaly detection, and night vision capabilities.

Market Drivers for Global Connected Dashcams:

The escalating number of road incidents fuels the demand for connected dashcams. Vehicle owners equipped with dashcams possess the capability to record attempted or actual theft incidents, aiding in the identification and prosecution of offenders. Furthermore, dashcams featuring motion detection and parking mode ensure continuous recording even when the vehicle is parked, thereby alerting owners to suspicious activities. Consequently, automobile owners are more inclined to invest in dashcams to safeguard their vehicles, thereby bolstering market growth. Moreover, dashcams serve as vital tools in recording and providing evidence of reckless driving, road rage, and accidents, thereby enhancing road safety.

The increasing disposable income of consumers contributes to the expansion of the global connected dashcams market. As disposable income rises, consumers exhibit a greater propensity to invest in advanced technologies. This translates to a surge in demand for sophisticated dashboard cameras offering internet connectivity, cloud storage, AI-powered sensors, and other advanced features, thereby propelling market growth.

Challenges Facing the Global Connected Dashcams Market:

The global connected dashcams market faces challenges primarily concerning high pricing and cybersecurity risks. Connected dashcams, being more technologically advanced than conventional models, command higher prices. This poses a barrier for price-sensitive consumers looking to purchase these advanced versions. Moreover, most connected dashcam manufacturers engage in the collection and sharing of sensitive data, including recorded footage and GPS location information, with third-party entities. While this practice aims to enhance user experience, it raises significant privacy and security concerns, potentially leading to misuse of data and cyber-attacks.

Opportunities in the Global Connected Dashcams Market:

The increasing demand for fleet management solutions and growing awareness of safety and security present significant opportunities in the global connected dashcams market. Connected dashcams offering real-time data and analytics on driver behavior and safety compliance are gaining traction, particularly in the transportation sector. This presents an opportunity for connected dashcam companies to position their products as integral tools for fleet management. Additionally, as consumers become more cognizant of driving hazards such as theft and accidents, there is a growing demand for advanced safety and security solutions like connected dashcams, creating a lucrative market opportunity for manufacturers.

Impact of COVID-19 on the Global Connected Dashcam Market:

The outbreak of the COVID-19 pandemic has had a notable impact on the global connected dashcam market. Strict lockdowns and travel restrictions implemented across various regions disrupted the manufacturing capacities of major automotive companies. Consequently, supply chain disruptions and distribution challenges led to slowdowns and shutdowns in automotive production, adversely affecting demand for automobiles and related components, including connected dashcams. Despite these challenges, the global connected dashcam market is expected to rebound and register growth in the post-pandemic period.

Recent Developments in the Global Connected Dashcam Market:

In January 2023, Nextbase unveiled its next-generation iQ series of smart dash cams at the CES 2023 event, featuring 4G LTE connectivity for enhanced safety and security. In May 2022, Qubo, Hero Electronix’s consumer technology brand, launched its smart dash cam in India, boasting 1080p 30FPS HD video quality for recording and live viewing. In June 2021, Garmin introduced four new dash cams with cloud-connected storage capabilities. The Dash Cam Mini 2, 47, 57, and 67W models enable remote monitoring of parked vehicles and offer free online video storage for up to 24 hours post-incident.

Segmentation of the Global Connected Dashcam Market by Technology:

• Basic
• Advanced
• Smart

The global connected dashcam market is categorized into basic, advanced, and smart segments based on technology. As of 2022, the basic technology sector dominated the market. Basic technology dashcams are entry-level devices that offer fundamental features such as automatic recording, loop recording, a 140-degree field-of-view, and audio capture. These dashcams are cost-effective and can be easily installed within minutes. They cater to the needs of a majority of customers and are particularly popular in developing countries due to their straightforward manufacturing process and affordability.

Segmentation of the Global Connected Dashcam Market by Product Type:

• 1-Channel
• 2-Channel
• Rear View

The global connected dashcam market is segmented into 1-channel, 2-channel, and rear view products. In 2022, the 1-channel product category held the largest market share. 1-channel dashcams record video from a single direction, offering an economical solution with limited memory storage and battery life. While basic models provide only one lens, some advanced 1-channel dashcams incorporate features like GPS tracking, motion detection, and parking mode. They are widely regarded as the most budget-friendly options available.

Segmentation of the Global Connected Dashcam Market by Video Quality:

• SD & HD
• Full HD & 4K

The global connected dashcam market is divided into SD & HD, and Full HD & 4K video quality segments. As of 2022, SD & HD video quality dashcams dominated the market. These devices, while offering lower video quality compared to Full HD and 4K counterparts, capture sufficient details such as license plates and road signs. They are affordable options that help conserve memory storage.

Segmentation of the Global Connected Dashcam Market by Application:

• Personal Vehicles
• Commercial Vehicles

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 increasing concerns of personal vehicle owners regarding safety and security issues such as theft, accidents, and insurance fraud are driving the demand for connected dashcams. Personal vehicle owners have the flexibility to choose and install dashcams based on their specific requirements and preferences.

Segmentation of the Global Connected Dashcam Market by Region:

• North America
• Europe
• Asia-Pacific
• The Middle East & Africa
• South America

In 2022, North America led the global connected dashcam market. Dashcam usage has been enforced by law enforcement agencies in the United States to provide corroborative evidence of crimes. Rideshare drivers are among the primary users of dashcams in this region. Legislators in the United States are advocating for the mandatory installation of dashcams in all vehicles.

Europe held the second-largest share in the global connected dashcam market. Russia was the earliest adopter of dashcams, followed by the United Kingdom and Germany. In Russia, the mandatory adoption of dashcams was driven by factors such as aggressive driving, insurance fraud, and high rates of road accidents. However, growth in the region has been hampered by the Russia-Ukraine conflict.

Key Players in the Global Connected Dashcam Market:

Garmin Ltd. (United States)

Nextbase (United Kingdom)

Thinkware Corporation (South Korea)

Xiaomi Corporation (China)

Pioneer Corporation (Japan)

LG Innotek (South Korea)

BlackVue (South Korea)

Transcend Information, Inc. (Taiwan)

Aptiv PLC (Ireland)

Kenwood Corporation (Japan)