- Press Release -

A recently revamped Fact.MR study on the car DVR market forecasts that the industry is projected to surge at a CAGR of 5.2% from 2022 to 2032, reaching US$ 2.49 Bn by the end of the said assessment period. Increasing need to monitor traffic movement and avoid accidents is a prime factor governing market growth.

From 2017 to 2021, car DVR sales flourished at a CAGR of 7.3%. During the COVID-19 pandemic, prospects dipped significantly, particularly in 2020. Imposition of lockdowns across all countries stymied automotive industry output, leading to contracting sales. Eventually, this was offset as the restrictions lifted.

As the world continues to progress, urbanization and establishment of public transportation infrastructure, including roadways, is leading to an increase in the number of automobile sales. This is also providing traction to automotive safety components, including car DVRs.

Key Takeaways from the Market Study

• By vehicle, passenger cars to accumulate 63% of car DVR market revenue
• China to be an opportunistic investment hub, expected to flourish at a CAGR of 7%
• Japan to account for a revenue share of US$ 125 Mn by the end of 2022
• Germany is forecast to emerge as the fastest growing market, registering a CAGR of 8%
• Global car DVR market is expected to be valued at US$ 1.5 Bn by the end of 2022

Increasing vehicle ownership amid rapid urbanization has heightened the need to install adequate safety features to avoid accidents, which has boded extremely well for car DVR sales, says a Fact.MR analyst.

Competitive Landscape

Prominent car DVR manufacturers are emphasizing on introducing highly advanced product lines, complete with high definition imaging and videography capabilities to provide crystal clear vision. Moreover, approaches such as acquisitions and partnerships are also relied upon. Some significant developments are as follows:

• In January 2020 – Garmin International Inc. introduced the Garmin Dash Cam Tandem, the company's first dual-lens dashcams, which provide drivers with complete video coverage of their surroundings by using two 180-degree fields of view lenses that record in tandem day and night, as well as other features such as its exclusive NightGlo technology, which improves video capture in low light conditions.
• In February 2019 – Panasonic Corporation, as part of its expanding Public Safety Solutions portfolio in North America, introduced the AS-1 Arbitrator, a new compact in-vehicle camera designed to provide law enforcement agencies with enhanced video evidence capture capabilities.

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global car DVR market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study indulges essential insights on the market on the basis of product type (single channel and dual channel), price range (low, mid and high), vehicle type (passenger car and commercial vehicle) and sales channel (OEM and aftermarket) across six major regions (North America, Latin America, Europe, Japan, APEJ and Middle East & Africa).

About the Automotive Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned automobile team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant - Industrial Goods and Automotive

E-mail: Shubham@factmr.com