Single and Dual Channel Dashboard Cameras Market Report Overview
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global single and dual channel dashboard cameras market size was USD 2367.1 million in 2022 and market is projected to touch 4538.35 Million By 2031, exhibiting a CAGR of 7.5% during the forecast period.
Single and dual channel dashboard cameras refer to the number of video recording channels or perspectives captured by the dash cam. A single channel dash cam records video footage from a single perspective, typically the front of the vehicle. It captures the view through the front windshield and is useful for documenting incidents that occur in front of the vehicle, such as accidents, road conditions, or traffic violations. A dual channel dash cam has two separate camera units that record video footage from two different perspectives simultaneously. One camera is usually mounted on the front windshield, capturing the front view, while the other camera is installed on the rear windshield or the rear bumper, recording the rear view.
The market for single and dual channel dashboard cameras has experienced significant growth in recent years. Factors such as increasing concerns about road safety, insurance fraud, and the desire for video evidence in case of accidents or disputes have contributed to the growing demand for these devices.
COVID-19 Impact: Pandemic Hampered the Demand for Market
The pandemic has disrupted global supply chains, leading to manufacturing and logistical challenges. Restrictions on international trade, factory closures, and shortages of raw materials have affected the production and availability of dashboard cameras, including single and dual channel models. Many people have faced financial difficulties, causing them to postpone non-essential purchases like dashboard cameras. This decline in demand has impacted the market. The pandemic has changed people's priorities, with health and safety becoming paramount. As a result, consumers may have diverted their spending towards essential items such as personal protective equipment, healthcare, and household supplies, rather than discretionary products like dashboard cameras. Lockdowns, travel restrictions, and remote working arrangements have resulted in a significant reduction in daily commuting and long-distance travel. Since dashboard cameras are commonly used for capturing road incidents and recording journeys, the decline in travel has likely affected the demand for both single and dual channel dashboard cameras.
Latest Trends
"High Quality Video Recording to Fuel Market Growth"
Single and dual channel dashboard cameras, also known as dashcams, have gained popularity in recent years due to their ability to record high-quality video footage while driving. Single channel dashcams typically record the view through the front windshield, while dual channel dashcams can record both the front and rear views simultaneously. There has been a trend towards higher video resolutions in dashcams, with many models now offering Full HD (1080p) or even 4K resolution for capturing clear and detailed footage. Dashcams often feature a wide-angle lens to capture a broader field of view. This helps to record a larger area in front of the vehicle, increasing the chances of capturing important details during an incident. Some dashcams come equipped with GPS technology, which allows them to record the location and speed of the vehicle. This feature can be useful for providing additional context in the event of an accident or other incidents.
Single and Dual Channel Dashboard Cameras Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into single channel dashcam, multi-channel dashcam.
- By Application Analysis
Based on application, the market can be divided into passenger vehicle, commercial vehicle.
Driving Factors
"Increasing Awareness of Road Safety to Stimulate Market Growth"
With the growing awareness of road safety, consumers are becoming more concerned about capturing evidence in case of accidents or other incidents on the road. Dashboard cameras provide a reliable and objective record of events, which can be used for insurance claims and legal purposes. This increased awareness and demand for road safety contribute to the growth of the dashboard camera market. Many insurance companies now offer discounts on premiums for vehicles equipped with dashboard cameras. These cameras provide visual evidence in case of accidents, helping insurance companies to accurately assess fault and liability. As a result, vehicle owners are incentivized to install dashboard cameras, driving the market growth.
"Rapid Development in Technology to Fuel Market Growth "
The advancement of technology has led to the development of high-quality dashboard cameras with advanced features. These cameras now offer higher resolution, wider viewing angles, improved night vision capabilities, and additional functionalities such as GPS tracking and Wi-Fi connectivity. The availability of feature-rich and user-friendly dashboard cameras attracts consumers, driving single and dual channel dashboard cameras market growth.
Restraining Factors
"High Cost and Limited Awareness to Restrict Market Growth "
Dashboard cameras with advanced features, such as dual-channel recording or built-in GPS, can be relatively expensive. The high cost of these cameras may deter price-sensitive consumers from purchasing them, limiting market growth. Many consumers may not be fully aware of the benefits and functionalities of single and dual channel dashboard cameras. They may perceive them as unnecessary or too complex to install and operate. Limited awareness and understanding can hinder market penetration and adoption.
Single and Dual Channel Dashboard Cameras Market Regional Insights
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"Consumer Awareness about Road Safety in North America to Drive Market Expansion"
North America holds the leading position in single and dual channel dashboard cameras market share due to high level of consumer awareness and the presence of several key manufacturers. The demand for dashboard cameras in this region is driven by factors such as increasing awareness of road safety, rising adoption of advanced driver assistance systems (ADAS), and the presence of key market players.
Key Industry Players
"Adoption Innovative Strategies by Key Players Influencing Market Growth"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.
The top key players in the market are DOME Technology, 360 (QIHU), Philips, Garmin, First Scene, JADO, SAST, REXing, DOD Tech, Pittasoft, Cobra Electronics, Fine Digital, HP, PAPAGO, Nextbase UK, HUNYDON, Qrontech, DAZA, Thinkware, YI Technology. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.
List of Market Players Profiled
- DOME Technology
- 360 (QIHU)
- Philips
- Garmin
- First Scene
- JADO
- SAST
- REXing
- DOD Tech
- Pittasoft
- Cobra Electronics
- Fine Digital
- HP
- PAPAGO
- Nextbase UK
- HUNYDON
- Qrontech
- DAZA
- Thinkware
- YI Technology
Report Coverage
This report examines an understanding of the Single and dual channel dashboard cameras market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2367.1 Million in 2022 |
Market Size Value By |
US$ 4538.35 Million by 2031 |
Growth Rate |
CAGR of 7.5% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global Single and dual channel dashboard cameras market expected to touch by 2031?
The global single and dual channel dashboard cameras market is expected to touch USD 4538.35 Million By 2031.
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What CAGR is the Single and dual channel dashboard cameras market expected to exhibit during 2024-2031?
The single and dual channel dashboard cameras market is expected to exhibit a CAGR of 7.5% over 2024-2031.
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Which are the driving factors of the market?
Increasing concerns about road safety and the desire for video evidence in case of accidents are the driving factors of the market.
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Which are the top companies operating in the market?
DOME Technology, 360 (QIHU), Philips, Garmin, First Scene, JADO, SAST, REXing, DOD Tech, Pittasoft, Cobra Electronics, Fine Digital, HP, PAPAGO, Nextbase UK, HUNYDON, Qrontech, DAZA, Thinkware, YI Technology