Market Trends of North America Dashboard Camera Industry
This section covers the major market trends shaping the North America Dashboard Camera Market according to our research experts:
Dual-channel Dashboard Camera to Drive the Market Growth
- Multi-lens dashboard cameras serve a lucrative segment to invest in, majorly for dashboard camera manufacturers, thereby driving an increasing preference for dual-channel dashboard cameras over single-channel dashboard cameras. Demand for multi-channel dashboard cameras was restricted in the past due to the complication of processing, as video streaming of the two views was captured and recorded simultaneously.
- The Dashboard Camera market is expected to gain high traction due to private taxi services like Uber, Lyft, and Bookmycab. The devices are energy efficient and provide recording features of vehicles' internal and external environments.
- Furthermore, the Devices' built-in GPS and Wi-Fi support the live location tracking feature, allowing the owner to access the device using smartphone applications. The availability of impact and motion detection features aids in speed detection and vehicle accidents, further providing alerts to drivers.
- In addition, the current lack of direct discounts from insurance companies for the installation of dashcams is estimated to have an impact on the low interest of US consumers. However, stringent regulations mandated by the government, due to the growing number of accidents in the United States, are expected to propel the growth.
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United States is Expected to Hold Major Share
- Various companies and startups made significant investments to increase the regional presence and the adoption rate. The existing companies are innovating new products to expand the product portfolio, gain market traction and increase their market share.
- Similarly, a group of startups in the United States have developed an innovative business model wherein the drivers are offered monetary rewards for installing dashboard cameras in their vehicles. As a result, more ride service providers across North America, such as Lyft and Uber, have started deploying in-car DVRs to record their rides.
- Dash cams are now equipped with a 3-axis G-sensor due to technology improvements. It has expanded the capabilities of dash cams beyond only recording video. It's also capable of detecting unexpected movements like emergency braking or crashes. It takes specific procedures in such emergencies to ensure that the film is kept and transferred to the cloud or to lock it to prevent tampering or erasure.
- In September 2021, the American motor vehicle fleet traveled around 267 billion vehicle miles. Traffic declined by almost seven billion vehicle miles in August of that year compared to August of the previous year. Between January and July of this year, the total number of vehicle kilometers traveled was roughly 3.3 trillion. Because of the increased traffic in cities and rural regions, there are increasing incidents of accidents and road rage. Having a good video can lessen the chance of an owner being involved in an unfavorable legal action.
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