Europe Dashboard Camera Market Size

Europe Dashboard Camera Market Analysis

Europe Dashboard Camera Market is expected to register a CAGR of 10.9% over the forecast period. The increasing number of road accidents and thefts in the region and the growing use of camera clips for insurance policies are some of the major factors driving the adoption of dashboard cameras in Europe over the forecast period.

• The market expanded rapidly across Europe in the past few years due to a considerable number of accidents and thefts, resulting in governments mandating the installation of dash cams. For instance, a recent report named "Crime in England and Wales," published by the Office of National Statistics, indicated about 77,309 theft or unauthorized taking of pedal cycle incidents in 2020/2021 in the United Kingdom. Furthermore, according to the preliminary figures published by the European Commission, an estimated 19,800 people were killed on the road fatalities for 2021. This was an increase of 1,000 deaths (+5%) compared to 2020, representing almost 3,000 (-13%) fewer fatalities than in 2019.
• A notable trend in the market studied is vendors engaging in product innovation of AI dual dashboard cameras. Garmin recently launched the Dash Cam Tandem, which offers 180-degree views on front and rear-facing lenses that can be controlled by voice. The incorporation of AI into dashboard cameras augmented technological advancements in the market. Several vendors offer smart dashboard cameras that can be used for fleet management.
• The implementation of favorable policies by the insurance companies which offer discounts on insurance to the cars equipped with these cameras that could later serve as evidence in case of any claims for insurance for the companies with increasing road accidents and car thefts is also expected to drive the market for the dashcams industry.
• However, the differences in the opinions of regional governments regarding dashboard camera usage could hinder market growth over the forecast period. The laws for dashcams within Europe are very diverse; such as in Austria, Luxembourg, and Portugal, the usage of recording devices in public has been declared illegal. In contrast, nations such as Belgium and France allow for use only in private spaces and prevent people from uploading footage on media platforms. The use of dashcams in the UK and Spain is entirely legal. Hence, the various laws on the use of dashcams could be the biggest challenge to the market's growth.
• The pandemic has significantly impacted the market, with the operations, production, and sales in the automotive industry to almost a halt globally with the imposing of strict lockdowns and travel restrictions by most European countries. The demand for data and AI-related skills is expected to be in higher order, as the COVID-19 pandemic exposed gaps in AI and data analysis capabilities. This can also lead to the adoption of AI technologies in intelligent dashcams, aiding technological advancements in the market.